Climate change and carbon trading
Climate change and carbon trading
Participants in this round table discussion debated the role of the personal carbon allowance (PCA) in forcing individuals to take some responsibility for their own carbon consumption and its effect on climate change. Round table sponsor Atos Origin is currently working with the RSA on a pilot project examining personal carbon trading (PCT). PCT refers to the act of equally allocating carbon emissions credits to individuals on a per capita basis, within national carbon budgets. Individuals would then have to surrender these credits when buying fuel or electricity. People using less than their share could sell the surplus to people or businesses using more than their allotted share, via a market, just as companies do now within the EU Emissions Trading Scheme (EUETS).
Participants debated the measures that the UK needs to take both upstream (to reduce the emissions that result from the production of energy) and downstream (to change consumer behaviour and reduce demand). Upstream measures require innovation and low-carbon technology, yet how can industry be persuaded to invest in these technologies if it is not assured of consumer demand?
