[Tr51] Carbon Trading

AUTHOR: Matthew Halsall

Carbon trading
Carbon/time graph    Local trade    Scenario for localised trading    Proposed localised trading scheme_________________________________________________________________________________________

[Tr 52]
Scenario Games: Action Plan:

ODPM, Kyoto treaty member states, Local industries and residents, recycling industries
The GLA have recently acknowledged that the carbon credit scheme, currently being tested on heavy emitting industries is likely to extend to all U.K. residents and businesses in the coming years. In such a scheme, we would all be issued with a carbon quota or [Teq] stating how much carbon we are allowed to produce per year. In order to produce further carbon, we would be forced to buy credit from entities who have not used their entire quota. The project predicts that the poorest, heaviest emitting industrial areas of the Thames Gateway may be badly hit financially by this new scheme, and must take drastic action in order to prevent decline. At the same time, it is likely that the population of the area will increase dramatically in the next 10 years, greatly increasing the strain on carbon emissions in the area.The widely accepted model for carbon trading is that advanced nations with large carbon footprints can buy unused carbon credit from less developed nations, who are not yet using their full carbon quota. The system is flawed in that money is constantly transferred abroad, producing no discernable difference to the locality.
The proposed system encourages local trading of [Teqs], land and recycled materials, with benefits felt locally: both financial and in the urban fabric. A ‘mutual trading zone’ is set up, with [Teq]s traded within its borders, producing local results on the environment.