The DOI matches its Crossref record; 27 of the 27 references it cites were found in a registry or an index.
The Brave New World of Carbon Trading
Abstract
Human-induced climate change has become a prominent political issue, at both national and international levels, leading to the search for regulatory ‘solutions’. Emissions trading has risen in popularity to become the most broadly favoured government strategy. Carbon permits have then quickly been developed as a serious financial instrument in markets turning over billions of dollars a year. In this article, I show how the reality of permit market operation is far removed from the assumptions of economic theory and the promise of saving resources by efficiently allocating emission reductions. The pervasiveness of Greenhouse Gas emissions, strong uncertainty and complexity combine to prevent economists from substantiating their theoretical claims of cost-effectiveness. Corporate power is shown to be a major force affecting emissions market operation and design. The potential for manipulation to achieve financial gain, while showing little regard for environmental or social consequences, is evident as markets have extended internationally and via trading offsets. At the individual level, there is the potential for emissions trading to have undesirable ethical and psychological impacts and to crowd out voluntary actions. I conclude that the focus on such markets is creating a distraction from the need for changing human behaviour, institutions and infrastructure.
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Cites
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Weak Northern and Strong Tropical Land Carbon Uptake from Vertical Profiles of Atmospheric CO 2
Stephens, B. B., Gurney, K. R., Tans, P. P., Sweeney, C., Peters, W., Bruhwiler, L., Ciais, P., Ramonet, M., Bousquet, P., Nakazawa, T., et al. (2007) · Science · doi:10.1126/science.1137004 · Cited by 789
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Kallis, G. (2011) · Ecological Economics · doi:10.1016/j.ecolecon.2010.12.007 · Cited by 931
Economic valuation and the commodification of ecosystem services
Gómez-Baggethun, E., & Ruiz-Pérez, M. (2011) · Progress in Physical Geography: Earth and Environment · doi:10.1177/0309133311421708 · Cited by 666
Three Decades of Climate Mitigation: Why Haven't We Bent the Global Emissions Curve?
Stoddard, I., Anderson, K., Capstick, S., Carton, W., Depledge, J., Facer, K., Gough, C., Hache, F., Hoolohan, C., Hultman, M., et al. (2021) · Annual Review of Environment and Resources · doi:10.1146/annurev-environ-012220-011104 · Cited by 574
Self-citationSoil “ecosystem” services and natural capital: critical appraisal of research on uncertain ground
Baveye, P. C., Baveye, J., & Gowdy, J. (2016) · Frontiers in Environmental Science · doi:10.3389/fenvs.2016.00041 · Cited by 446
A Review of Carbon Footprint Reduction in Construction Industry, from Design to Operation
Sizirici, B., Fseha, Y., Cho, C.-S., Yildiz, I., & Byon, Y.-J. (2021) · Materials · doi:10.3390/ma14206094 · Cited by 316
Metadata
- Authors
- Spash, C. L.
- Venue
- New Political Economy
- Publisher
- Informa UK Limited
- Published
- 2010-06
- Volume
- 15
- Issue
- 2
- Pages
- 169-195
- ISSN
- 1356-3467 (ISSN-L)
- 1469-9923
- OpenAlex
- W1536605276
- Cited by
- 327
- References
- 27
- FWCI
- 50.06
- Type
- journal article
- Language
- en
- Open access
- closed
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
