By Justin Dargin
(This article first appeared in Fair Observer)
Global carbon trading could potentially be the most effective economic tool to regulate industrial CO2 emissions in the fight against climate change.
As concern about global climate change and carbon emissions mitigation is becoming ever more important, governments and corporations across the world have introduced innovative strategies to reduce steadily rising carbon emissions. Some of these strategies such as carbon taxes, energy efficiency strategies, command and control policies and market-based pollution trading mechanisms have been around for some time. However, they were previously used for other pollution control purposes, besides that of carbon emissions mitigation, with varying degrees of success. Nonetheless, since their success in the US to reduce domestic sulfur dioxide deposits in the 1990s, market-based instruments have again risen to the forefront in the fight against climate change. Read more