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Bad for the South, bad for the North, and bad for the climate

New Book Exposes Flaws of Carbon Trading. The book is published by Sweden’s Dag Hammarskjold Foundation together with the international Durban Group for Climate Justice and the UK-based NGO The Corner House.

This is the most absurd and impossible market human civilization has ever seen,’ said Indian activist and researcher Soumitra Ghosh, a contributing author on carbon projects in the South. ‘Carbon trading is bad for the South, bad for the North, and bad for the climate.’ ‘ Claims that carbon credits mitigate climate change have not been verified’, added Jutta Kill of FERN, another contributor to the book. Carbon trading impedes positive investment in the South while thwarting popular movements against subsidies for fossil fuel extraction, she said.

In detailed case studies from nine Third World countries, the book shows how carbon offset projects such as those promoted under the Kyoto Protocol’s Clean Development Mechanism (CDM) have had a detrimental impact on local communities. At the same time, they prolong industrialized countries’ excessive pollution of the atmosphere.

Carbon Trading: A Critical Conversation on Climate Change, Privatisation and Power is available for download at http://www.dhf.uu.se A paper edition will be published by the Dag Hammarskjold Foundation in November 2006.