What is Greenpeaces position on carbon trading?
If carbon trading is going to work it must meet some key tests. First, we need to reduce greenhouse gas emissions by more than 40 per cent below 1990 levels by 2020. The cap on greenhouse pollution must reduce emissions in line with this target. Second, the emissions trading scheme must begin in full by no later than 1 July 2010. Slow starts are not acceptable as they compromise the purpose of the scheme. Third, all permits must be auctioned – there must be no handing out of free permits. The purpose of an emissions trading scheme is to price pollution, and make the polluter pay. Giving free permits to polluters is undermining the very purpose of the scheme. Worse, it potentially equates to a handout to polluting industries, if they overestimate their emissions and are able to sell excess permits without actually reducing their emissions. Fourth, the revenue raised from the emissions trading scheme must be used to support renewable energy and energy efficiency solutions to climate chan
