I think this sums up my thoughts: “Nature does not fall for accounting schemes,” as Anja S. Kollmuss, outreach coordinator of the Tufts Climate Initiative, an advocacy group affiliated with Tufts University said, as quoted in a Bloomberg Business Week article. (Another Inconvenient Truth) I came into this research not knowing anything about cap and […]
The most obvious controversy is determining just how much GHG emission reduction is actually required to slow or prevent global warming. This is still theoretical and science is not capable of generating hard numbers for this due to the complexity and still unknown aspects of anthropogenic global warming. Also, as mentioned before, globally accepted and […]
Offset credits are created when a project is implemented that reduces or sequesters emissions at an uncapped source not related to the polluting entity. The amount of GHG reduction is calculated based on the level of emissions that would have been produced (the baseline) had the project not been initiated. Types of projects range from […]
Although the theory of cap and trade could work, it’s the design details that determine its effectiveness and who will, or won’t, profit from it. In order to help design the cap and trade scheme, the Economic and Allocation Advisory Committee (EAAC) was formed, in part, to make recommendations for the allocation of GHG allowances. […]
Cap and Trade as Designed by California’s CARB Some of the facts: AB32 made the California Air Resources Board (CARB) responsible for ongoing administration of the cap and trade scheme. With the cap and trade scheme eventually estimated to be worth billions of dollars, this makes CARB one of the most powerful agencies in California. […]
How Cap and Trade was Implemented in Europe and Lessons Learned The European Union (EU) began their “Emissions Trading Scheme” (ETS) in 2005 and it only included CO2 emissions. Although phase one from 2005-7 was a deemed the “learning phase,” billions of Euros changed hands and some entities made windfall profits. (A Euro is currently […]
GHG Cap and Trade Theory A cap and trade system is intended to embed a carbon price in the generation and use of electricity, natural gas, gasoline, manufactured goods, and possibly water. This has the effect of making things more expensive, especially electricity and gasoline. “Allowing prices of emissions-intensive goods and services to rise over […]
There is a great deal of controversy about how to mitigate global warming. It has become a major international political and economic issue. In 2006 California Assembly Bill 32 (AB32) “California Global Warming Solutions Act of 2006” was signed into law. The goal of AB32 is to reduce California’s Green House Gas (GHG) emissions to […]
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