Cap and Trade! 80% by 2050! Carbon Taxes! The polluter pays! Climate change and subsequently lowering GHG emissions is becoming the major topic of discussion; the presidential candidates are talking about it, college and university presidents are doing something about it, students are winning campaigns to get their campuses to embrace clean energy, and Europe already has a large, multinational carbon trading schema set up. In fact, The Chicago Climate Exchange (established in 2003) is the first voluntary, legally binding greenhouse gas trading system in North America with eight campuses participating along with hundreds of businesses running the gamut from manufacturing to financial institutions, to food and agriculture corporations. What incentives are there for companies to voluntarily join such a consortium? What are campuses getting out of the process (a financial return, reducing and managing emissions more effectively, being seen as leaders, perhaps all of these)? Many advocates for a cap and trade system argue that it will only be through such innovations in the financial sector that the United States and world will ever effectively reduce emissions to levels that are necessary for a stable environment. Essentially a "cap" will have to be set on emissions and then companies, organizations, schools etc, will have to stay under their designated cap (and then sell the surplus) and those who go above their allotted emissions will have to buy credits. What that cap should be, how credits are allotted and which industries are involved/exempt are all up for debate. Some advocates argue that a "carbon tax" would be a more effective mechanism for substantially lowering GHG emissions worldwide. Advocates of a tax point to the potential of a cap and trade system to not be stringent enough to make the necessary, substantial reductions necessary for climate stabilization. Most recently, criticism of carbon trading has come from indigenous organizations worldwide including the US based Indigenous Environment Network (IEN),Carbon Trading Blasted by Indigenous Groupswho point out the environmental justice aspects related to carbon trading. I'm not claiming to be an expert of either carbon trading schemes or carbon taxes but I am interested to see what those working in higher ed sustainability think about these different mechanisms and the pros and cons of each. Is there room for both a carbon tax and a cap and trade system? Does one have benefits that greatly outweighs the other? What role will these mitigation strategies have on colleges and universities? ---||---||---||---||---||---||---||---||---||---||---||---||---||---||---||---||---||---||---||---||---||---||---||---|| FYI: Honeywell is sponsoring a webinar for the ACUPCC on "The Future of Carbon Trading" next week. It's free, registration is here: http://event.netbriefings.com/event/honeywell/Live/hbs/register.html The Future of Carbon Trading Webinar May 22nd, 2008 Higher education is under intense pressure to improve environmental stewardship and reduce greenhouse gas emissions. Carbon trading can be an important part of your institution's overall energy and environmental plans. You are invited to attend a special Honeywell webinar that will help demystify the complex issue of carbon trading.