Commons publishes report on personal carbon trading
June 9, 2008
The House of Commons Select Committee on Environmental Audit has published a report on personal carbon trading, which urges the Government not to abandon its work in the area and claims that personal carbon trading has the potential to be a more effective means of cutting carbon emissions in the household sector than green taxes.
The committee's report, entitled Personal Carbon Trading, looks at the concept of allocating individuals an allowance of marketable carbon credits, and urges the Government to lead and co-ordinate further research into personal carbon trading.
The MPs also express disappointment with the Government's decision, following a recent pre-feasibility study into personal carbon trading, to wind down work on developing and assessing the practicality of such a scheme.
The committee says radical measures must be considered if the personal and household sector is ever to make a meaningful contribution to UK targets.
The report argues that personal carbon trading has the potential to be more engaging, more effective and more progressive than green taxation, provided it is carefully developed and sensitively implemented.
The MPs also argue that personal carbon trading could be essential if the UK is to meet its emissions targets.
The committee acknowledges the obstacles facing the successful development of personal carbon trading, not least the cost of implementation, the issue of dealing with vulnerable groups, and the extent of public resistance to the concept.
However, the report urges the Government to meet these challenges "head on".
Tim Yeo MP, Chairman of the Committee, said, "We found that personal carbon trading has real potential to engage the population in the fight against climate change and to achieve significant emissions reductions in a progressive way."
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