It is not clear how much support there is for such a proposal, but
the EU Commission is to bring forward a proposal to ban most forms of carbon offsets:
European Union member states may oppose new rules on how far their factories and power plants can offset their carbon emissions, to be proposed by the European Commission, environment ministries told Reuters.
The EU executive is expected to propose in the next two weeks curbs or an outright ban from 2013 on the most common types of offsets.
Europe's emissions trading scheme caps planet-warming gases emitted by industry, but allows companies to offset emissions by paying for carbon cuts in developing countries, as a cheaper alternative to cutting their own.
Shutting the main supply of offsets could push up carbon prices, if agreed by a majority of member states at a meeting of Commission officials and environment ministers later this month.
Any such ban would represent a step towards a more transparent form of carbon pricing, along the lines of a straight up tax. Offsets are of course one reason why there is no such thing as a "cap" in cap and trade.
7 comments:
Oil producers' mood begins to shift over carbon tax
Some oil companies are calling for pricing mechanisms for carbon emissions and even carbon taxes after years of resisting such moves.
So far, the most fervent supporters of carbon pricing are based in Europe but there are signs the movement could spread. "Carbon pricing is essential," Hege Marie Norheim, the senior vice president of Norway's Statoil, told the ADIPEC oil conference in Abu Dhabi last week.
"The Norwegian carbon dioxide tax shows that it works. This has been quite a revelation." Ms Norheim not only defends Oslo's policy of taxing carbon emissions but also argues the tax should be substantial. Statoil supports a high government price on carbon because it enables the company to compete for carbon capture and storage (CCS) projects, with the aim of becoming a leader in the emerging carbon management sector. "For business, it must pay to be green," Ms Norheim said. ...
http://www.thenational.ae/news/uae-news/environment/oil-producers-mood-begins-to-shift-over-carbon-tax
Good news!
Ron Broberg said...
"Ms Norheim not only defends Oslo's policy of taxing carbon emissions but also argues the tax should be substantial."
StatOil is 65% Norwegian Government Owned. So an employee of the Norwegian Government Defended Norwegian Government Policy.
Better news from the USA.
Carbon Trade Ends on Quiet Death of Chicago Climate Exchange
Collapse is Personal Setback for U.S. President
Barack Obama was a board member of the Joyce Foundation that funded the fledgling CCX. Professor Richard Sandor, of Northwestern University had started the business with $1.1 million in grants from the Chicago-based left-wing Joyce Foundation enthusiastically endorsed by Obama. When founded in November 2000, CCX’s carbon trading market was predicted to grow anywhere between $500 billion and $10 trillion. Fortunately before its collapse Sandor was able to net $98.5 million for his 16.5%
http://www.suite101.com/content/carbon-trade-ends-on-quiet-death-of-chicago-climate-exchange-a305704#ixzz14iNUVGwK
President Obama was in at the beginning of carbon trading. What a cool green dude he is. Not that there was any conflict of interest.
The Germans and Poles scuppered the EU climate conference, maybe they will do the same here.
I'd put my money on icicles in Hades before the chance of this happening. Europeans NEVER leave themselves with no loophole.
-4- Eric#
Indeed, more good news! I am not an offsets fan, nor a cap-and-trade fan, but I do believe in taxing behaviors that are exacting social costs, even if they are future costs. So now emissions fee-and-rebate, or carbon tax-and-refund will have more of a long-term chance than when cap-and-trade was preferred. Thanks for pointing out the additional good news!
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