Carbon Trading: An Ecosocialist Critique
Despite its popularity among advocates of market solutions to global warming, carbon trading cannot produce the quantitative and qualitative changes that the world needs Daniel Tanuro is the ecological correspondent of La Gauche, newspaper of the Belgian Socialist Workers Party. This is the text of his talk at the Conference on the future of Greenhouse Gas Emissions Trading in the EU organized by the Slovenski E-forum, Focus and the National Council of the Republic of Slovenia, Ljubljana, on March 21, 2008 Fundamental Inadequacies of Carbon Trading for the Struggle Against Climate Change By Daniel Tanuro This contribution identifies 5 fundamental reasons why carbon trading is inadequate for the struggle against Climate Change. It focuses in particular on the European Emission Trading System (EU-ETS) but most of the conclusions are generally applicable. 1. Carbon trading is a source of windfall profits for polluting sectors. They invest little or none of that profit in low carbon