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President Barack Obama and Chinese President Xi Jinping, right, walk from the West Wing of the White House in Washington, Thursday, Sept. 24, 2015, for a private dinner at the Blair House, across the street from the White House.(Photo: Manuel Balce Ceneta/Associated Press)
China Cap-and-Trade Program Not What the Climate Needs
The reported move by China to enact a cap-and-trade program for carbon emissions will not begin to solve our climate crisis. Pollution trading signifies a dangerous reliance on the market to address a problem that only a decisive move away from fossil fuels and to renewables can truly solve.
Through a system of 'credits' and dubious and unverifiable offsets, cap-and-trade programs essentially create a commodity out of pollution, allowing for financial corporations to profit from polluting industries.
Sep 25, 2015
The reported move by China to enact a cap-and-trade program for carbon emissions will not begin to solve our climate crisis. Pollution trading signifies a dangerous reliance on the market to address a problem that only a decisive move away from fossil fuels and to renewables can truly solve.
Through a system of 'credits' and dubious and unverifiable offsets, cap-and-trade programs essentially create a commodity out of pollution, allowing for financial corporations to profit from polluting industries.
Furthermore, scrutiny of such programs show they don't work. A recent analysis of the Joint Implementation (JI) program enacted under the Kyoto Protocol in Europe found that only 14 percent of the claimed greenhouse gas reduction offsets under the program were even 'plausible.' The offset program resulted in the equivalent of about 600 million additional metric tons of carbon dioxide into our atmosphere.
It's ironic this announcement comes as Pope Francis visits the United States. In his encyclical earlier this year, the Pope called carbon trading programs a form of speculation, cautioning they 'may simply become a ploy which permits maintaining the excessive consumption of some countries and sectors'.
If we truly want to reduce carbon emissions, we must enact policies that truly move our world into a renewable energy future. We must start by banning fracking and extreme energy extraction.
The Paris talks must center around policies that will move us decisively away from fossil fuels, not schemes to allow the financial industry to continue profiting from our climate crisis.
An Unconstitutional Rampage
Trump and Musk are on an unconstitutional rampage, aiming for virtually every corner of the federal government. These two right-wing billionaires are targeting nurses, scientists, teachers, daycare providers, judges, veterans, air traffic controllers, and nuclear safety inspectors. No one is safe. The food stamps program, Social Security, Medicare, and Medicaid are next. It’s an unprecedented disaster and a five-alarm fire, but there will be a reckoning. The people did not vote for this. The American people do not want this dystopian hellscape that hides behind claims of “efficiency.” Still, in reality, it is all a giveaway to corporate interests and the libertarian dreams of far-right oligarchs like Musk. Common Dreams is playing a vital role by reporting day and night on this orgy of corruption and greed, as well as what everyday people can do to organize and fight back. As a people-powered nonprofit news outlet, we cover issues the corporate media never will, but we can only continue with our readers’ support. |
© 2021 Food & Water Watch
Wenonah Hauter
Wenonah Hauter is the executive director of the consumer advocacy group Food & Water Action. She has worked extensively on energy, food, water and environmental issues at the national, state and local level. Experienced in developing policy positions and legislative strategies, she is also a skilled and accomplished organizer, having lobbied and developed grassroots field strategy and action plans.
The reported move by China to enact a cap-and-trade program for carbon emissions will not begin to solve our climate crisis. Pollution trading signifies a dangerous reliance on the market to address a problem that only a decisive move away from fossil fuels and to renewables can truly solve.
Through a system of 'credits' and dubious and unverifiable offsets, cap-and-trade programs essentially create a commodity out of pollution, allowing for financial corporations to profit from polluting industries.
Furthermore, scrutiny of such programs show they don't work. A recent analysis of the Joint Implementation (JI) program enacted under the Kyoto Protocol in Europe found that only 14 percent of the claimed greenhouse gas reduction offsets under the program were even 'plausible.' The offset program resulted in the equivalent of about 600 million additional metric tons of carbon dioxide into our atmosphere.
It's ironic this announcement comes as Pope Francis visits the United States. In his encyclical earlier this year, the Pope called carbon trading programs a form of speculation, cautioning they 'may simply become a ploy which permits maintaining the excessive consumption of some countries and sectors'.
If we truly want to reduce carbon emissions, we must enact policies that truly move our world into a renewable energy future. We must start by banning fracking and extreme energy extraction.
The Paris talks must center around policies that will move us decisively away from fossil fuels, not schemes to allow the financial industry to continue profiting from our climate crisis.
Wenonah Hauter
Wenonah Hauter is the executive director of the consumer advocacy group Food & Water Action. She has worked extensively on energy, food, water and environmental issues at the national, state and local level. Experienced in developing policy positions and legislative strategies, she is also a skilled and accomplished organizer, having lobbied and developed grassroots field strategy and action plans.
The reported move by China to enact a cap-and-trade program for carbon emissions will not begin to solve our climate crisis. Pollution trading signifies a dangerous reliance on the market to address a problem that only a decisive move away from fossil fuels and to renewables can truly solve.
Through a system of 'credits' and dubious and unverifiable offsets, cap-and-trade programs essentially create a commodity out of pollution, allowing for financial corporations to profit from polluting industries.
Furthermore, scrutiny of such programs show they don't work. A recent analysis of the Joint Implementation (JI) program enacted under the Kyoto Protocol in Europe found that only 14 percent of the claimed greenhouse gas reduction offsets under the program were even 'plausible.' The offset program resulted in the equivalent of about 600 million additional metric tons of carbon dioxide into our atmosphere.
It's ironic this announcement comes as Pope Francis visits the United States. In his encyclical earlier this year, the Pope called carbon trading programs a form of speculation, cautioning they 'may simply become a ploy which permits maintaining the excessive consumption of some countries and sectors'.
If we truly want to reduce carbon emissions, we must enact policies that truly move our world into a renewable energy future. We must start by banning fracking and extreme energy extraction.
The Paris talks must center around policies that will move us decisively away from fossil fuels, not schemes to allow the financial industry to continue profiting from our climate crisis.
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