I have been meaning to write something about emissions trading and the NZ Emissions Trading Scheme for a while.
Instead here is a video by Annie Leonard which describes emissions trading in a fairly simple way.
Leonard's main criticisms are:
- emission permits will be given away free to emitters, in effect, rewarding them for causing the problem. That will certainly be the case in New Zealand, where billions of $NZ worth of permits will be allocated to agriculture and trade exposed and emissions intensive industries over an 80-year period.
- emission offsets (carbon offsets) will be fraudulently obtained, thus undermining the cap on emissions
- caps on emissions are essential to a cap and trade scheme, but there are no internationally agreed caps.
- emissions trading is a distraction from the real measures to decarbonise economies, and as such it encourages 'business as usual'.