Carbon trading 'essential' to prevent climate change.
July 30, 2009
A report commissioned by the Prime Minister, Gordon Brown, has concluded that a global carbon trading network will be essential in helping to prevent dangerous climate change.
According to the report, the ability of individual countries to tackle and avoid dangerous climate change impacts will be limited without access to a global system for carbon trading.
Mark Lazarowicz MP, the PM’s Special Representative of Carbon Trading has produced the report. In it, he examines the potential role of cap and trade systems in the global response to the threat of climate change. The author also considers what needs to be done to expand and link these trading systems over the coming decade.
The report recognises that, by themselves, markets for carbon trading will not be sufficient to combat climate change successfully. They will need to operate in conjunction with robust domestic action to reduce emissions. The UK is committed to achieving its greenhouse gas emissions reduction target for 2020 through domestic action alone.
Mark Lazarowicz concludes that, for a comprehensive approach, cap and trade should be combined with targeted regulation, taxation and public finance. In his report, he proposes two levels of action in developed countries, namely ambitious national targets and a network of linked cap and trade systems for emitters.
Further details of the report on Global Carbon Trading can be found on the Department of Energy and Climate Change website.
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