Friday, October 19, 2012

One step closer to a global carbon market

Australia joins the EU carbon trading program.
Read about it here at Triple Pundit.

3 comments:

Clarke Lynch said...

It seems that in spite of promising valuations for the decrease in carbon emissions in the EU of 21% by 2020 and the addition of Australia, the U.S seems intent on accumulating a significant form of revenue from carbon emissions policies. I think its odd that a policy that originated in the U.S and was successfull in reducing acid rain emissions would work much more inefficiently in a carbon cap and trade market. In my eyes the U.S. interest in proposing a carbon tax of $20 per ton when the identical quantity carbon permits are currently trading for $1.93 a ton is entirely farfetched. Since carbon prices won't increase without U.S. support for closing the leakage, which doesn't seem likely, why focus on this alternative. The U.S. should be viewing this situation more as an environmental issue and less as a potential for fiscal revenue

Riley Andrews said...

This article is definitely bringing up a serious issue that doesn't get enough attention it seems like, especially here in America. It's really encouraging to see organizations such as the European Union stepping up and being a role model for the whole world on how the issue of carbon trading can be better taken care of. It's also really great to see Australia taking the necessary steps to integrate this program on a more global level. If problems like this are ever going to be fully taken care of, it is going to take actions such as this to really make an impact, and to set an example for other countries to follow. The tax that was discussed for America also seems to be like a great step forward on this issue, especially since it can help to decrease a significant amount of our deficit over the next ten years. Taxes such as this, along with many other similar taxes, are an extremely good way to handle two problems at once. If America can lower our debt, while at the same time bettering the planet as a whole, it will help us to continue to be the model for world leadership like we have always tried to maintain. With that being said, America definitely needs to get on board with such programs, and linking up our carbon trading to the EU in a similar fashion as Australia already has certainly seems like a great way to do so.
- Riley Andrews

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