To effectively address the climate problem, progress will be needed on all four of the aforementioned fronts. Successors to the Kyoto Protocol will need to be more flexible to accommodate the diversity that will inevitably arise as each country formulates its own approach while at the same time creating strong incentives for countries to implement policies that actually yield substantial reductions in greenhouse gas emissions. Although we need to get the science and engineering right, the biggest danger in the area of global climate change lies in the difficult task of crafting human institutions that are up to the job.
More To Explore
Program on Energy and Sustainable Development, Climate Change Research Platform: pesd.stanford.edu/climate/
Architectures for Agreement: Addressing Global Climate Change in the Post-Kyoto World. Joseph E. Aldy and Robert N. Stavins (editors). Cambridge University Press, 2007.
Is the Global Carbon Market Working? Michael Wara. Nature, Vol 445, pages 595-596; 8 February 2007.
Design of a Cap and Trade System for California. Market Advisory Committee to the California Air Resources Board, May 23,2007. http://www.climatechange.ca.gov/policies/market_advisory.html
Promoting Low-Carbon Electricity Production. Jay Apt, David W. Keith and M. Granger Morgan, Issues in Science and Technology, Spring 2007: www.issues.org/23.3/apt.html
ILLUSTRATIONS
FIGURE 1: Carbon Dioxide Emissions from Fossil Fuel and the Kyoto Challenge
Carbon dioxide emissions from fossil fuels have risen over time but at rates that vary by region and circumstances. These patterns help explain why the United States left the Kyoto treaty, while the European Union and Japan remain committed to complying with their treaty obligations. The U.S. saw a period of rapid economic growth and increased consumption of fossil fuels over the last few decades, leading to a corresponding large increase in carbon dioxide emissions. For the E.U. and Japan, national emissions grew at a much slower rate, due in part to slower economic expansion, fortuitous changes in their energy systems and societal choices to use energy more efficiently. Even though their Kyoto targets are in sight, both the E.U. and Japan will need to purchase international carbon credits, notably from developing countries through the clean development mechanism, to augment their domestic efforts to reduce emissions.
Kyoto regulates all sources of carbon dioxide as well as other greenhouse gases, but reliable long-term data by country are available only for carbon dioxide from burning fossil fuels (which accounts for about two-thirds of the human contribution to global warming). Emissions from the E.U. are shown for the 15 members that negotiated as a block when the Kyoto agreement was finalized in 1997, although since then another 12 countries have joined the E.U.—D.G.V. and D.C.
Data on emissions comes from the Oak Ridge National Laboratory's Carbon Dioxide Information Analysis Center, and the U.S. Energy Information Administration. Kyoto targets and baselines are from the United Nations Framework Convention on Climate Change.
FIGURE 2: Carbon Markets, Prices and Volume
Initially, nascent carbon markets traded independently of one another and at different price levels. As clean development mechanism credits have been applied to the European Union’s emissions trading scheme, prices in these two markets are beginning to converge. Prices and trading volumes reflect many factors, including differences in the rigor of emission caps, enforcement standards, project monitoring and auditing. Like money, the paper itself is worthless: carbon credits are only as valuable as the credibility of the organizations that back them. [In this figure the area of the circles represent the volume of trading in the world’s five largest carbon markets, with prices on the vertical axis.]
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10 Comments
Add CommentThis type of system will just make undeveloped countries more competitive, now if the credits are only within a country or group it might be OK. In addition positive action to reduce our impact on the environment and to mitigate the effects are required. These credits do nothing in these areas.
Reply | Report Abuse | Link to thisQuestion: To mesh a carbon tax with cap-and-trade, should the government not put a MINIMUM price on carbon, not a ceiling, as the article asserts? (Ref. 3rd para. under 'A Four-Step Plan.')
Reply | Report Abuse | Link to thisE.D.
Ottawa
Canada
Clicking on the links to the Figures brings one to a slide show on endangered birds!
Reply | Report Abuse | Link to thisDeleted and replaced with revised version
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Edited by Duane Pendergast at 12/21/2007 10:36 AM
This is an excellent discussion and review of carbon trading concepts and initiatives.
Reply | Report Abuse | Link to thisThere is, however, no discussion of market possibilities to encourage removal of carbon dioxide from the atmosphere. Perhaps this is a consequence of the common assumption that it is better to capture emissions at source rather than try to deal with them after release.
The sidebar on "The Carbon Trade" focuses on cap and trade and so-called "offset exchange" in connection with the Clean Development Mechanism (CDM). I find the use of "offset" in that context somewhat of a misnomer as the carbon emissions discussed may not be offset in the usual sense. In the example discussed, it is implied that emissions from the developed countries will be compensated by reductions in emissions in developing countries. I suspect the reality in practice will be that increasing emissions from the developed countries will support projects in developing countries which will have somewhat lower emissions than might have occurred without CDM. The total net result will be increased carbon dioxide emissions.
There is developing recognition of a concept that would actually remove carbon dioxide from the atmosphere and convert it to durable char or charcoal, which could then be used to sequester carbon in soil. Some researchers believe the sequestered carbon will play an additional role by significantly improving soil fertility. Interested readers can find information on this concept by searching for "terra preta" on the WWW.
Perhaps policy makers should relax their dogged focus on reducing CO2 emissions and consider the possibility they may constitute an opportunity to enhance the environment for life on earth.
Duane Pendergast
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Edited by Duane Pendergast at 12/21/2007 10:29 AM
Sorry for double post
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Edited by erichj at 12/22/2007 10:28 AM
I thought this ubiquitous carbon sink might interest you. Here's the current news and links on Terra Preta (TP)soils and closed-loop pyrolysis of Biomass, this integrated virtuous cycle could sequester 100s of Billions of tons of carbon to the soils.
Reply | Report Abuse | Link to thisTerra Preta Soils Technology To Master the Carbon Cycle
This technology represents the most comprehensive, low cost, and productive approach to long term stewardship and sustainability.Terra Preta Soils a process for Carbon Negative Bio fuels, massive Carbon sequestration, 1/3 Lower CH4 & N2O soil emissions, and 3X Fertility Too.
UN Climate Change Conference: Biochar present at the Bali Conference
http://terrapreta.bioenergylists.org/steinerbalinov2107
SCIAM Article May 15 07;
http://www.sciam.com/article.cfm?articleID=5670236C-E7F2-99DF-3E2163B9FB144E40
After many years of reviewing solutions to anthropogenic global warming (AGW) I believe this technology can manage Carbon for the greatest collective benefit at the lowest economic price, on vast scales. It just needs to be seen by ethical globally minded companies.
Could you please consider looking for a champion for this orphaned Terra Preta Carbon Soil Technology.
The main hurtle now is to change the current perspective held by the IPCC that the soil carbon cycle is a wash, to one in which soil can be used as a massive and ubiquitous Carbon sink via Charcoal. Below are the first concrete steps in that direction;
S.1884 The Salazar Harvesting Energy Act of 2007
A Summary of Biochar Provisions in S.1884:
Carbon-Negative Biomass Energy and Soil Quality Initiative
for the 2007 Farm Bill
http://www.biochar-international.org/newinformationevents/newlegislation.html
If you have any other questions please feel free to call me or visit the TP web site I've been drafted to co-administer. http://terrapreta.bioenergylists.org/?q=node
It has been immensely gratifying to see all the major players join the mail list , Cornell folks, T. Beer of Kings Ford Charcoal (Clorox), Novozyne the M-Roots guys(fungus), chemical engineers, Dr. Danny Day of EPRIDA , Dr. Antal of U. of H., Virginia Tech folks and probably many others who's back round I don't know have joined.
If pre-Columbian Kayopo Indians could produce these soils up to 6 feet deep over 15% of the Amazon basin using "Slash & CHAR" verses "Slash & Burn", it seems that our energy and agricultural industries could also product them at scale.
Harnessing the work of this vast number of microbes and fungi changes the whole equation of energy return over energy input (EROEI) for food and Bio fuels. I see this as the only sustainable agricultural strategy if we no longer have cheap fossil fuels for fertilizer.
We need this super community of wee beasties to work in concert with us by populating them into their proper Soil horizon Carbon Condos.
Erich J. Knight
Shenandoah Gardens
1047 Dave Berry Rd.
McGaheysville, VA. 22840
(540) 289-9750
shengar@aol.com
who can deny the politics behind the science of climate ,and how some thinktanks with funding support from north influence policies .is the finding of IPCC on glcier melts the tip of the iceberg of the science hoodo act to serve the interests of the developed world. why not the north show the lead in changing life styles and social systems to suit the ethics and economics of sustainable resource use and development.
Reply | Report Abuse | Link to thisno one can deny the economic advantage to the west in carbon trade while continuing to pollute.the advantage to the less developed is inflated and projected while the cost benefit in real terms favours the more developed .the developing world is increasingly being depicted as more responsible for future pollution. the science behind the future scenarios are highly dubious and influenced by vested intersts through funding support and peer pressure.
china and india are being shown as villains through data manipulation and GCM computer dta are being used for this jugglery. the world bodies are being hijacked partly for this ,and pachauri is suitably awarded. the very architects of the carbon trading have finally backed out of the protocol so that their interests are best served both ways,and scuttling that of competitors and potential growth centers.the credits are loaded in favour of the west through science and technology fixes . the world bodies are toeing the line for funds. what is needed is not more of the same but a drastic relook at the western model of growth and development through resource exploitation and depletion ,and focus on economics at the cost of ecology ,in real terms ,while making it appear as if the south is more obsessed with growth than environment through a game of data manipulation and jugglery of all sorts.it is high time that the politics of climate is called off through more transparent science. the developing world needs to be equipped and oriented towards this through support structures and a process of relearning
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