An international commodity, with no measurable value, is set to become a $ 500 Billion business, within the next 10 years.
Brokers, multinationals, governments and even the World Bank and other parts of the United Nations system are fast establishing their claims in the new Gold Rush of Emissions Trading.
The beauty of the idea lies in its simplicity. Since we all share the same planet and breathe the same air, it is obvious that greenhouse gases emitted in one part of the world have an effect on other parts. Therefore, if polluted air is rising in one country, clean air in another
Brokers, multinationals, governments and even the World Bank and other parts of the United Nations system are fast establishing their claims in the new Gold Rush of Emissions Trading.
The beauty of the idea lies in its simplicity. Since we all share the same planet and breathe the same air, it is obvious that greenhouse gases emitted in one part of the world have an effect on other parts. Therefore, if polluted air is rising in one country, clean air in another
may provide a sort of balance, preserving a certain equilibrium. Such is the basic theory.
The United States Delegation to November’s Climate Change Conference pointed out that an emissions trading system helped reduce the amount of sulfur dioxide in the air. This is one of the reasons for official U.S. support for extension of the theory to cover greenhouse gases.
In principle, one nation, or one company,which is a major producer of greenhouse gases, may purchase certificates from another nation or company that is not a major polluter and apply these certificates to its own emissions, as credits.
The United States Delegation to November’s Climate Change Conference pointed out that an emissions trading system helped reduce the amount of sulfur dioxide in the air. This is one of the reasons for official U.S. support for extension of the theory to cover greenhouse gases.
In principle, one nation, or one company,which is a major producer of greenhouse gases, may purchase certificates from another nation or company that is not a major polluter and apply these certificates to its own emissions, as credits.
This allows the polluter to continue business as usual and enables the non-polluter to gain financially through its certificates. There are predictions that by 2010, 50billion tons of greenhouse gases will be traded annually
Anil Agarwal of New Delhi's Centre for Science and Environment notes that, " at current rates, emissions can be bought for as low as $3 to $20 for each ton of carbon. This, when compared to what it would cost to do the same carbon reduction, by taking measures at home, around $125, is a real steal."
Anil Agarwal of New Delhi's Centre for Science and Environment notes that, " at current rates, emissions can be bought for as low as $3 to $20 for each ton of carbon. This, when compared to what it would cost to do the same carbon reduction, by taking measures at home, around $125, is a real steal."