Friends of the Earth have come out with another report on the poor state of Carbon Trading, just in time for the Copenhagen Climate talks where Carbon Trading could become one of the planks on which we will be made to walk :-
https://www.guardian.co.uk/environment/2009/nov/05/friends-of-the-earth-attacks-carbon-trading
“Friends of the Earth attacks carbon trading : An FoE reports says ‘cap and trade’ carbonn markets have done little to reduce emissions but have been plagued by corruption and inefficiency : Ashley Seager : The Guardian, Thursday 5 November 2009 : The world’s carbon trading markets growing complexity threatens another “sub-prime” style financial crisis that could again destabilise the global economy, campaigners warn today. In a new report, Friends of the Earth says that to date “cap and trade” carbon markets have done almost nothing to reduce emissions but have been plagued by inefficiency and corruption that render them unfit for purpose…”
One reply on “Carbon Trading Isn’t Working (3)”
This is what the climate skeptics have been saying for years and we’ve been called holocaust deniers in response. Finally a green group has gotten the message. Cap&Trade must be dropped!
In addition, the UN’s Copenhagen treaty must be examined much more closley. For example, the EU has agreed to pay $150 Billion annually to LDCs or least developed countries. The rest of the developed world is expected to pay the same thing. The money is supposed to be used for wind power and solar projects. But these nations will side track the money for other uses, like arming their military and fulfilling nuclear aspirations. These climate-justice payments are supposed to be for saving the planet, but it will be used to arm it instead. This is an enormous blunder on the part of the UN and emissions trading is part of the problem. I don’t beleive for one minute that the UN is unaware of these alternate uses for the climate debt money, so I feel there is something else going on here. I feel the UN has lost it’s trustworthiness.