Carbon trading is the process of buying and selling permits and credits to emit carbon dioxide.
All carbon trading systems have been beset with problems and corruption, and yet some countries and industries (such as the aviation industry) continue to suggest carbon trading can tackle rising emissions.
Scientists have defined the amount of carbon dioxide we can release globally and still meet the Paris Agreement goal of keeping global warming below two degrees, and aspiring for 1.5 degrees. This “carbon budget” has no wiggle room. It requires us to shift to a low carbon energy, agriculture, transport and industrial world now, whilst at the same time removing some carbon dioxide from the air with restoration of forests. The best way to do this is through direct regulation.
Carbon trading is seen as a holy grail for those who believe it could be a source of finance for efforts to plant trees and protect forests. But this does not add up in climate terms. Trees can never offset the permanent release of fossil carbon into the atmosphere, and there is no evidence that carbon trading is providing anywhere near enough money to incentivise forest protection.
Fern’s work has blocked EU plans to include forests in its Emissions Trading System (EU ETS) and stopped the UK and the EU from engaging in biodiversity offsetting.
Fern believes that carbon trading, forest offsets and biodiversity offsetting are dangerous distractions which allow people, organisations and countries to continue emitting or destroying when it would otherwise be forbidden.
Carbon trading related resources
Que sont les puits de carbone?
Un puits de carbone est un élément qui absorbe plus de carbone qu’il n’en rejette, tandis qu’une source d’émission de carbone est un élément qui rejette plus de carbone qu’il n’en absorbe. Les forêts, les sols, les océans et...
What are offsets?
Environmental offsetting enables a company, country or individual to be legally or morally allowed to pollute or otherwise damage the environment as long as they pay someone else somewhere else to attempt to compensate for some or...