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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.
We are at a crossroads
This country and this world are at a monumental crossroads. US voters have an opportunity to beat back the forces of fascism and confront the billionaires who are rigging the economy, our media system, and our democracy, making it increasingly impossible for ordinary people to get by. We’re not just talking about the election. We’re talking about what must be done once these fascist elements are vanquished from power. We need a bolder set of solutions than what either major party has so far been willing to offer and a working-class movement ready to fight like hell for it. Trump didn't emerge from nowhere. The conditions that fueled MAGA authoritarianism were created by decades of radical neoliberal economic policies and a corrupt political system dominated by corporate interests. They slashed taxes on the super-rich, promising that the benefits would trickle down. They said giveaways to the corporate titans would make life more affordable for the rest of us. It was all bullshit. And when a bitter, betrayed populace searches for someone to blame, right-wing demagogues have little trouble finding scapegoats. People know when they're being lied to, but you won't hear any of this from the corporate media. Only independent journalism—powered and funded by people who believe in building a better world—can deliver truly trustworthy daily news. If you share our vision, please contribute whatever you can to sustain our work. |
© 2021 Food & Water Watch
Wenonah Hauter
Wenonah Hauter is the founder and executive director of Food & Water Watch. 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 founder and executive director of Food & Water Watch. 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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