Personal carbon trading

Personal carbon trading
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Green economics
v · emissions trading schemes under which emissions credits are allocated to adult individuals on a (broadly) equal per capita basis, within national carbon budgets.[1] Individuals then surrender these credits when buying fuel or electricity. Individuals wanting or needing to emit at a level above that permitted by their initial allocation would be able to purchase additional credits from those using less, creating a profit for those individuals who emit at a level below that permitted by their initial allocation.[2]

Contents

Proposals

Current proposals include:

  • Personal Carbon Allowances (PCAs) - described in the book “How we can save the planet” by Mayer Hillman and Tina Fawcett. Work on PCAs is ongoing at the Environmental Change Institute,[7] Oxford, UK. The title "PCAs" or "PCA scheme" is sometimes used generically to refer to any proposed form of personal carbon trading.
  • Tradable Personal Pollution Allowances - originally proposed in an article by Dr. Kirk Barrett in 1995[8] and applicable to any form of pollution, including carbon dioxide.

Individuals would most likely hold their emissions credits in electronic accounts, and would surrender them when they make carbon-related purchases, such as electricity, heating fuel and petroleum. PCAs could also require individuals to use credits for public transport. Tradable Energy Quotas would bring all other sectors of society (eg. Industry, Government) within the scope of a single scheme.

Individuals who exceed their allocation (i.e. those who want to use more emissions credits than they have been given) would be able to purchase additional credits from those who use less, so individuals that are under allocation would profit from their small carbon footprint.

Proponents of personal carbon trading claim that it is an equitable way of addressing climate change and peak oil, as it could guarantee that a national economy lives within its agreed carbon budget and ensure fair access to fuel and energy. They also believe it would increase ‘carbon literacy’ among the public, while encouraging more localised economies.[9]

Personal carbon trading has been criticised for its possible complexity and high implementation costs. As yet, there is minimal reliable data on these issues. There is also the fear that personal "rationing" and trading of allowances will be politically unacceptable, especially if those allowances are used to buy from industries who are already passing-on costs from their participation in carbon levy or trading schemes such as the EU ETS.

Research in this area[10][11] has shown that personal carbon trading would be a progressive policy instrument - redistributing money from the rich to the poor - as the rich use more energy than the poor, and so would need to buy allowances from them. This is in contrast to a direct carbon tax, under which all lower income people are worse off, prior to revenue redistribution.

Progress towards implementation

Norfolk Island is trialling the world's first personal carbon trading programme, starting in 2011.[12]

The Climate Change Act 2008 also grants powers allowing the UK Government to introduce a personal carbon trading scheme without further primary legislation.[13]

In May 2008 DEFRA completed a pre-feasibility study into TEQs, with the headline finding that “personal carbon trading has potential to engage individuals in taking action to combat climate change, but is essentially ahead of its time and expected costs for implementation are high”. Based on this DEFRA announced that “the (UK) Government remains interested in the concept of personal carbon trading and, although it will not be continuing its research programme at this stage, it will monitor the wealth of research focusing on this area and may introduce personal carbon trading if the value of carbon savings and cost implications change".[14]

Later that same month the UK Parliament's Environmental Audit Committee produced their report on the subject, which concluded that ”personal carbon trading could be essential in helping to reduce our national carbon footprint" and rebuked the Government for delaying a full feasibility study, stating that "although we commend the Government for its intention to maintain engagement in academic work on the topic, we urge it to undertake a stronger role, leading and shaping debate and coordinating research".[15]

Analysts have noted that to implement any effective carbon rationing system, "the government must convince the public that rationing levels are fair, that the system is administered transparently and fairly, and that evaders are few in number, likely to be detected and liable to stiff penalties if found guilty."[16]

A 2010 paper into attitudes towards personal carbon trading suggests a general ambivalence, however the researchers noted that "In fact, moderate support was the commonest view".[17]

In January 2011, the UK's All Party Parliamentary Group on Peak Oil published a report into TEQs, garnering significant media coverage.[18] This report highlights the significant research from a number of research centres produced since the Government's pre-feasibility study, and argues that these studies demonstrate the benefits of to be far greater than was acknowledged in the Government's research. Accordingly, it urges them to move quickly to fund moves towards potential implementation in the near future.[19]

Related emissions reduction proposals and initiatives

  • Carbon Rationing Action Groups[20] - groups in the UK and US that voluntarily cap their greenhouse gas emissions
  • "Icecaps" - devised by George Monbiot in his book Heat: How to Stop the Planet Burning.

Media

Carbon rationing is considered in the feature film The Age of Stupid[21], released in February 2009.[22]

See also

Crystal energy.svg Energy portal

References

  1. ^ "An introduction to personal carbon trading", Climate Policy journal, Volume 10, Number 4, Sept 2010 , pp. 329-338
  2. ^ How would TEQs work?, on www.teqs.net
  3. ^ Tyndall Centre for Climate Change Research
  4. ^ RSA CarbonLimited Partners and Supporters
  5. ^ UK Government pre-feasibility study into TEQs
  6. ^ All Party Parliamentary report into TEQs
  7. ^ Environmental Change Institute (ECI) - Oxford University
  8. ^ Personal Pollution Allowance Proposal:
  9. ^ David Fleming (2007), Energy and the Common Purpose
  10. ^ Simon Dresner and Paul Ekins, Policy Studies Institute, The Distributional Impacts of Economic Instruments to Limit Greenhouse Gas Emissions from Transport
  11. ^ Joshua Thumim and Vicki White, Centre for Sustainable Energy (2008). Distributional Impacts of Personal Carbon Trading: A report to the Department for Environment, Food and Rural Affairs. Defra, London
  12. ^ Media release: Norfolk Island to trial world first Personal Carbon Trading program - 27/10/2010
  13. ^ "What is the progress towards seeing TEQs implemented in the UK?", from TEQs website - accessed 23 Jan 2011
  14. ^ DEFRA press release - 8th May 2008
  15. ^ Environmental Audit Committee - Personal Carbon Trading: Fifth Report of Session 2007–08
  16. ^ Roodhouse, Mark (March 2007). "Rationing returns: a solution to global warming?" (in English). History & Policy. United Kingdom: History & Policy. http://www.historyandpolicy.org/papers/policy-paper-54.html. Retrieved 9 December 2010. 
  17. ^ Public attitudes to personal carbon allowances: findings from a mixed-method study
  18. ^ Media coverage of All Party Parliamentary report into TEQs, from www.teqs.net, accessed 23 Jan 2011
  19. ^ All Party Parliamentary report into TEQs
  20. ^ Home | CRAGs
  21. ^ Brendan Barrett, "Better than Star Wars: The Age of Stupid", September 25, 2009
  22. ^ Release dates for The Age of Stupid - IMDb

External links

General

TEQs (Tradable Energy Quotas) - formerly known as Domestic Tradable Quotas

v · d · eGlobal warming and climate change

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