Grumpy Climate Change Commentator: Emissions Targets - Do They Add Up?
Another weird day in Climate Change, where I just cant quite get things to add up.
LONDON, Feb 18 (Reuters) - Britain’s goal of cutting emissions of climate warming carbon dioxide by 60 percent by 2050 will be reviewed by the end of the year and may be raised, Environment Secretary Hilary Benn said on Monday.
Ok. All other arguments aside, there is nothing wrong with ambition. Good for the environment and all that stuff. Although one does wonder just how the UK will ever achieve this based on current performance. The report goes on:
“The scientific evidence has moved rapidly, and as part of a new global climate deal, developed countries may have to cut their emissions by as much as 80 per cent by 2050. That’s why we announced a review of the UK target last year,” Benn said.
I understand that 2050 is far away, but I just don’t understand how countries such as the UK believe that they have even a slight chance of achieving this. Let’s look at a few options:
- Renewable Energy: Umm, no. The UK already has one of the lowest renewable energy production rates in Europe, with very little chance of improving since each proposal gets immediately stonewalled by a different set of environmental groups who obviously don’t seem to need electricity.
- Nuclear Power: Umm, no. Not in my backyard is the usual answer. Or in your backyard either, unless it is several thousand miles away.
- Energy Conservation: Probably not. Our demand for energy is increasing - caused by phenomena called economic growth and population expansion. One of which is hard to argue against, since it pays for everything, and the other since… Since.. Well, we don’t talk about that.
- Use of Public Transportation: Not really. In 90% of the UK, for example, there is no public transportation. At least not in a form that meets most people’s basic transportation needs, such as getting to work on time and without feeling like you’ve just spent an hour in a sewer.
There are probably a few more options, all equally implausible. But, just when I was giving up altogether, I read the next sentence of the Reuters story:
The bill allows Britain to buy carbon emission credits abroad to help towards meeting its national reduction targets, an allowance critics see as a fundamental weakness.
Yep, those good old carbon credits again. Where would we be without them? However, I think I may have spotted a flaw in this strategy - in another story from Reuters:
Monaco said on Thursday it would become the fifth country to commit to carbon neutrality under the UNEP project, joining Costa Rica, Iceland, Norway and New Zealand.
I also noticed this week that Switzerland announced that it too would be using carbon offsets to help meet its emissions reduction targets. That’s a lot of countries, trying to offset a lot of emissions. So just where are all these emissions credits going to come from? I can think of several dubious possibilities:
- The price for emissions credits goes through the roof, but all these countries continue buying them anyway to cleanse themselves of their carbon sins - to hell with the national budget. Unlikely.
- Rich countries buy cheap credits by paying poor countries to stay poor, so that we can keep emitting. This one should probably be the subject of a separate blog post. Still, unlikely.
- Many countries and several industries dramatically reduce their carbon emissions. They sell their carbon credits to countries such as the UK who can’t get their act together on Co2. Rich with the proceeds of all these credits, they thank their lucky stars that they had the foresight to accept the challenge of reducing emissions early, such that they could develop technologies and practices which have now made them world economic leaders. Not impossible, but a huge gamble.
- The proceeds from all of these carbon offsets are invested into developing new, low carbon technologies. The availability of these technologies dramatically reduces world carbon emissions and keeps the price of carbon credits reasonable. Possible - perhaps the Bill Gates of Climate Change has yet to be discovered?
- Governments manipulate the price of carbon credits, by allocating large amounts of them to their own industries for free, or for well below market value. Very likely - it wouldn’t be the first time.
I am perhaps being a little too cynical in this case, but some important facts remain - many nations are way behind on their targets, and purchasing carbon offsets may be their only way out of binding obligations. In this case the price of carbon credits is set to rise enormously, the results of which may be unpredictable.
In such a situation someone stands to make an awful lot of money. With the price of the congestion charge for my Porsche set to increase, I’m open to any offers.
Sources:
 http://www.reutersinteractive.com/Carbon/90374, http://www.reutersinteractive.com/Carbon/90688
More about carbon trading from TalkClimateChange:
The End of Cheap Electricity in Europe-
Is The New EU Climate Plan a Heroic Attempt at Leadership- Or Economic Suicide-



please allow me to vent more skepticism here. i like this carbon trading system.. it means that somewhere, there is a Mecca where all our sins can be deposited albeit for a fee.
then we may dance around the much darkened stone guilt-free.. why hadn’t i thought of that?
and think of all these poor people who now will have ample resources for easy money. this scheme could be applied to nutritional deficiency as well.
all my obese neighbors could purchase food credits which would nourish a third world country, thereby absolving them of gluttony, zowie!
from here the view is dismal.