Lovelock labels Europe's carbon trading scheme a 'scam'

[OKIsItJustMe]

http://www.guardian.co.uk/environment/2009/mar/10/lovelock-meacher-slam-carbon-trading

Lovelock labels Europe's carbon trading scheme a 'scam'

Gaia scientist joins former minister Michael Meacher in saying 'disastrous' scheme has profited industry but not helped to reduce emissions

Adam Vaughan
guardian.co.uk, Tuesday 10 March 2009 14.47 GMT

Europe's carbon trading scheme has proved to be "disastrous" and a "scam" in which companies have profited with no effect on emissions, a leading politician and a scientist said yesterday.

The environmentalist James Lovelock — who developed the Gaia theory of the planet as a "living organism" — and the former environment minister, Michael Meacher, said that market approaches to green issues, such as the EU Emissions Trading Scheme (ETS), were destined to be distorted by business pressures. Lovelock described similar market mechanisms that attempt to put a price on "services" provided by the natural world as akin to "slavery".

"In principle is not a bad idea but in operation it's been disastrous. Business has frankly made billions out of artificial reductions of what is called hot air with absolutely no environmental benefit at all," said Meacher, singling out the ETS for being distorted by commerce. "Governments under pressure from industry – the worst example is Germany – gave away far more allowances than industry actually needed."

As a result, he said, the carbon price collapsed and the ability for companies to claim carbon credits by investing in developing world emissions-cutting projects via the Clean Development Mechanism meant western economies had done little to de-carbonise their industries.

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[pscot]

1. Why am I not surprised by this?

n/t

[Nihil]

2. No dissent from this corner.

This was being pointed out right at the start with the classic summary:
"When your doctor tells you to lose weight, there is no point in paying
your neighbour to go on a diet."

:shrug:

[OKIsItJustMe]

3. However, cap and trade semms to have worked with sulfur (which we here in upstate NY appreciate)

http://www.edf.org/page.cfm?tagID=1085

The Cap and Trade Success Story

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