Filed under: global warming
The system of trading carbon emissions at the heart of the ambitious low-carbon plan announced by the government last week is seriously flawed and close to becoming irrelevant, according to researchers behind a new analysis.
So-called “hot air” carbon credits – those which do not result in any actual emissions cuts – could be so numerous that companies covered by the EU Emissions Trading Scheme would not have to make any cuts to their own emissions until 2015, says the report from climate campaign group, Sandbag. The hot air permits result from the over-allocation of emissions allowances and from those going unused as the recession cuts economic activity.
More here http://www.guardian.co.uk/business/2009/jul/20/carbon-emissions-trading-system-sandbag
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Comment by climatenewsblog July 30, 2009 @ 3:36 am