The FT trashes the CDM, endorses per capita convergence

by | Dec 3, 2009


The FT’s leader on Copenhagen this morning was exactly right. First it trashed the CDM (see here for CDM-trashing here on Global Dashboard over the last two years):

The CDM inherits the UN’s suffocating bureaucracy, so smaller projects struggle to gain approval. But more important than what it keeps out is what it lets in. The criterion of “additionality” is supposed to rule out projects that would not be undertaken without CDM payments. Not only is this counterfactual approach utterly unverifiable; it is also an ideal target for gaming.

And then it suggests an approach based on a stabilisation target, a safe global emissions budget, and binding targets for all allocated on the basis of ultimate convergence to equal per capita entitlements as what we should be doing instead (ditto):

…the solution to the CDM’s problems is more carbon trading, not less. It matters little for the climate where or what activities greenhouse gas emissions come from. But it matters enormously for the cost of cutting them. That is why the best solution is a global emissions cap and tradeable national quotas (ultimately based on equal per capita amounts) coupled with a scientific mechanism for measuring national emissions.

Bravo, FT. Expect my subscription renewal forthwith.

Author

  • Alex Evans

    Alex Evans is founder of the Collective Psychology Project, which explores how we can use psychology to reduce political tribalism and polarisation, a senior fellow at New York University, and author of The Myth Gap: What Happens When Evidence and Arguments Aren’t Enough? (Penguin, 2017). He is a former Campaign Director of the 50 million member global citizen’s movement Avaaz, special adviser to two UK Cabinet Ministers, climate expert in the UN Secretary-General’s office, and was Research Director for the Business Commission on Sustainable Development. He was part of Ethiopia’s delegation to the Paris climate summit and has consulted for Oxfam, WWF UK, the UK Cabinet Office and US State Department. Alex lives with his wife and two children in Yorkshire.


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