Rethinking Dominant Approaches to Climate change
Publisher: Climate & Capitalism
Date Written: 24/03/2019
Year Published: 2019
Resource Type: Article
Cx Number: CX23570
Market-based attempts to curb climate change are inadequate since they further enable its root cause, capitalism.
Carbon pricing is the key "pillar" and it takes two forms:
1. A carbon tax, gradually increased over time to encourage households and industries to reduce carbon consumption.... Major exemptions are provided for strategic industries, including oil and gas, to protect "competitiveness."
Both the UN Environment Program and the OECD have noted the inadequacy of Canadas emissions reduction targets.
2. Carbon offset schemes.... An example is "cap-and-trade." The government sets a cap (limit) on the amount of GHG emissions various industries can emit into the atmosphere. The limit is gradually reduced over time to decrease total pollution levels.
That's the theory. What it amounts to is issuing permits to pollute, which can be traded on carbon markets like stocks on the stock market.