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Dickinson to Durban » Entries tagged with "cap-and-trade"

What America Can (and should) Learn from Europe

By Timothy Damon ’12 America has a long and proud history of firsts – the first airplane, the first man on the moon, and so forth. This heritage makes it all the more surprising that the United States would give up its leadership in innovation when it comes to the world’s greatest problem: climate change. One of the largest examples is allowing Europe to establish the first-ever market mechanism for reducing greenhouse gas (GHG) emissions. In 2005, the European Union (EU) implemented the Emissions Trading System (ETS), a cap-and-trade system aimed at reducing its GHG emissions. The principle of cap-and-trade (C&T) is relatively simple, and the idea actually came from a previous program the US EPA used to fight acid rain pollution. Basically the government sets an annual limit on GHG emissions … Read entire article »

Filed under: Carbon Markets, Climate Change, Summer Reading Responses

Climate Policy for Dummies

By Dani Thompson ’12 climate change lingo The “Lingo” All definitions below are based on usage in terms of U.S. climate change policy… Market-based approach: A way to control and/or regulate carbon emissions via the economic system. This approach is used in contrast to traditional regulations such as those imposed by the Environmental Protection Agency. Cap-and-trade: A market-based approach to lower CO2 emissions by distributing carbon “pollution permits”. These permits can be bought, traded, and sold among all parties involved. The number of permits available will be limited so that a “cap” of total carbon emissions will be established. This cap can be lowered to further minimize emissions in the future. In this approach amount of emissions is certain, but cost of permits is not. (Keohane) Safety valve: An optional addition to the cap-and-trade approach which would … Read entire article »

Filed under: Summer Reading Responses

The Key To International Negotiations?

by Claire Tighe ’13 In order to maintain a livable atmosphere for life on Earth, big polluters such as the United States, need to significantly reduce their greenhouse gas (ghg) emissions. Without either a carbon cap-and-trade system or a carbon tax imposed by the federal government, the future of climate change looks bleak, particularly in relation to the pending international climate change agreements (For a great introduction of the dynamics and concerns of the cap-and-trade system, see Holme Hummel’s slideshow). As economist Nat Keohane presents in his video about cap-and-trade here, a concrete, comprehensive domestic emissions restriction will encourage other international states to create their own policies, or even sign onto a post-Kyoto agreement. If competing countries, such as China, see that the United States has made a commitment to cut carbon, … Read entire article »

Filed under: Carbon Markets, Climate Change, Key COP17 Issues, Summer Reading Responses

Stop! Don’t Offset… Carbon Offsets the Snake Oil of CO2 Mitigation

by Sam Parker, ’12 In 2009, there was a bill, called the Waxman-Markey Climate Bill, that has passed through the House and was killed in the Senate.  This bill was potentially one of the most significant climate laws to have ever been seen in the U.S.  It would instate a Cap and Trade system of carbon trading on U.S. coal power plants .  This bill came under much scrutiny from many different places. Possibly the biggest criticism was the effects Cap and Trade may have had on the economy.  I wish to criticize a different aspect of this bill, offsets.  As noted by Laurie Williams and Allen Zabel in there video The Huge Mistake, the bill would have allowed for the companies to purchase carbon offsets to mitigate there CO2 emissions for 20 years … Read entire article »

Filed under: Carbon Markets, Climate Change, Key COP17 Issues, Mosaic Action