Carbon Trading not working

From The Corner House:

The world’s dominant approach to dealing with the climate crisis –- carbon trading, the
centrepiece of the Kyoto Protocol and the European Union Emissions Trading
Scheme –- isn’t working.

Yet, as if sleepwalking, international agencies and government authorities
around the world continue to squander millions of taxpayer dollars trying
to build or repair carbon markets.

As country after country undertakes its own complicated efforts to
partition the world’s carbon cycling capacity into saleable commodities,
and entrepreneurs flood news media with unverifiable claims that they are
increasing that capacity, fossil-fuelled industries are getting a new
lease on life.

As speculators seek quick profits in a fast-growing ‘wild west’
marketplace, the need to find reliable ways to promote the structural
change that would allow fossil fuels to be kept in the ground is being
ignored or forgotten.

Why is this happening? What lies behind the belief that carbon markets can
somehow be ‘fixed’ or ‘regulated’? What can be done to move climate
politics onto a saner path?

The Corner House has recently posted nearly a dozen new items on its
website that shed light on these and related questions. We hope you find
them useful and informative.

Best wishes from all at The Corner House

‘Carbon Trading: Solution or Obstacle?’

More and more commentators now recognise that carbon markets are not
helping to address the climate crisis. But more discussion is needed of:
how carbon markets damage more effective approaches; whether carbon
markets could ever work at all; and why carbon trading has been successful
in political terms despite failing in climatic terms.

‘Carbon Trading, Climate Justice and the Production of Ignorance:
Ten Examples’

Carbon trading schemes have helped mobilize neoclassical economics and
development planning in new projects of dispossession, speculation,
rent-seeking and the redistribution of wealth from poor to rich and from
the future to the present. A central part of this process has been
creating new domains of ignorance. What does the quest for climate justice
become when it is incorporated into a development or carbon market


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