Climate Camp 2009 – Stopping carbon markets – Because nature doesn’t do bailouts
First the city traders speculated with our homes, jobs and money – with disastrous results. Now they are speculating with our climate and the very future of life on earth – and once again our governments are cheering them on.
By creating a brain-bending system of carbon pollution licenses, fossil fuel companies and trading firms have found a way to keep on churning out global warming gases and to reap huge windfall profits at the same time. Meanwhile, the UK government is justifying a third runway at Heathrow and a coal-fired power station at Kingsnorth by saying that these new “carbon trading” schemes will magically make all their emissions vanish.
They are handing control of our climate over to the same people and systems that caused the financial collapse. All the workable and fair alternatives aren’t getting a look-in.
Leading climate scientist arrested in coal protests
“I am not a politician; I am a scientist and a citizen,” said Dr. James Hansen. “Politicians may have to advocate for halfway measures if they choose. But it is our responsibility to make sure our representatives feel the full force of citizens who speak for what is right, not what is politically expedient. Mountaintop removal, providing only a small fraction of our energy, should be abolished.”
Democratic process is undermined by lobbying of corporations — direct action and protest the only solution
Protest and direct action could be the only way to tackle soaring carbon emissions, a leading climate scientist has said.
James Hansen, a climate modeller with NASA, told the Guardian today that corporate lobbying has undermined democratic attempts to curb carbon pollution. “The democratic process doesn’t quite seem to be working,” he said.
Source: James Hansen, The Guardian
James E. Hansen (born March 29, 1941 in Denison, Iowa) heads the NASA Goddard Institute for Space Studies in New York City, a part of the Goddard Space Flight Center in Greenbelt, Maryland, Earth Sciences Division. He has held this position since 1981. He is also an adjunct professor in the Department of Earth and Environmental Sciences at Columbia University.
G20 Climate protests – European Carbon Exchange
First the city traders speculated with our homes, jobs and money – with disastrous results. Now they are speculating with our climate and the very future of life on earth – and once again our governments are cheering them on.
By creating a brain-bending system of carbon pollution licenses, fossil fuel companies and trading firms have found a way to keep on churning out global warming gases and to reap huge windfall profits at the same time. Meanwhile, the UK government is justifying a third runway at Heathrow and a coal-fired power station at Kingsnorth by saying that these new “carbon trading” schemes will magically make all their emissions vanish.
They are handing control of our climate over to the same people and systems that caused the financial collapse. All the workable and fair alternatives aren’t getting a look-in.
Michelle Chan, Friends of the Earth: Rethinking the World’s Largest Derivative Market Source: Friends of the Earth
The newest climate lobby — and potentially one of the most powerful in years to come — is the financial industry. If ACES is signed into law, the global carbon market could become the largest commodity market in the world. According to Bart Chilton, Commissioner of the U.S. Commodities Futures Trading Commission (CFTC), “The potential size and scope of a structured carbon emissions market in the US is unequivocally vast. It is certainly possible that the emissions markets could overtake all other commodity markets.”
A growing number of analysts are expressing concerns about the emergence of a new financial climate lobby and the potential for gaming in a new U.S. carbon market. A recent report by Friends of Earth (FOE), “Subprime Carbon,” argued that cap and trade proposals like ACES could create a system with similar financial and political interests to the housing market bubble. Just as financial practices during the housing bubble caused deteriorating standards in mortgages, cap and trade could create “subprime” carbon offsets — offsets that do not represent actual emission reductions and carbon derivatives based on future carbon reductions with high risk of not being fulfilled.
Meanwhile, following an indigenous uprising in Chiapas in January, 1994, set for the first day of the implementation of the North American Free Trade Agreement. the anti-globalization movement erupted in world-wide protest against market capitalism and corporate depredation, including the despoiling of the environment. Within five years the movement had grown in cohesion, numbers, momentum and militancy and coalesced in designated “global days of action” around the world, particularly in direct actions at G8 summits and meetings of the World Bank, the International Monetary Fund and the new World Trade Organization, reaching its peak in shutting down the WTO meetings in Seattle in November, 1999.
The movement, which consisted of a wide range of diverse grass-roots organizations united in opposition to the global “corporate agenda,” shook the elite globalization campaign to its roots. It was in this charged context that the signatories of the UN Framework Convention on Climate Change. which had been formulated by representatives from 155 nations at the Rio Earth Summit in 1992, met at the end of 1997 In Kyoto and established the so-called Kyoto Protocol to reduce greenhouse gas emissions through carbon targets and trading. The Kyoto treaty, belatedly ratified only in late 2004, was the sole international agreement on climate change and immediately became the bellwether of political debate about global warming.
The first campaign, which took shape in the late 1980’s as part of the triumphalist “globalization” offensive, sought to confront speculation about climate change head-on by denying, doubting, deriding, and dismissing distressing scientific claims which might put a damper on enthusiasm for expansive capitalist enterprise. It was modelled after and … Read Moreto some extent built upon the earlier campaign by the tobacco industry to sow skepticism about mounting evidence of the deleterious health-effects of smoking. In the wake of this “negative” propaganda effort, any and all critics of climate change and global warming have been immediately identified with this side of the debate.
The second positive campaign, which emerged a decade later, in the wake of Kyoto and at the height of the anti-globalization movement, sought to get out ahead of the environmental issue by affirming it only to hijack it and turn it to corporate advantage. Modelled on a century of corporate liberal cooptation of popular reform movements and regulatory regimes, it aimed to appropriate the issue in order to moderate its political implications, thereby rendering it compatible with corporate economic, geopolitical, and ideological interests. The corporate climate campaign thus emphasized the primacy of “market-based” solutions while insisting upon uniformity and predictability in mandated rules and regulations.
At the same time it hyped the global climate issue into an obsession, a totalistic preoccupation with which to divert attention from the radical challenges of the global justice movement. In the wake of this campaign, any and all opponents of the “deniers” have been identified – and, most importantly, have wittingly or unwittingly identified themselves – with the corporate climate crusaders.
If President Barack Obama wants to stop the descent toward dangerous global climate change, and avoid the trade anarchy that current approaches to this problem will invite, he should take Al Gore’s proposal for a carbon tax and make it global. A tax on CO2 emissions — not a cap-and-trade system — offers the best prospect of meaningfully engaging China and the U.S., while avoiding the prospect of unhinged environmental protectionism
The row over the working of the European Union’s emissions trading scheme intensified last night when EDF Energy warned that speculators risked turning carbon into a new category of sub-prime investment.
Vincent de Rivaz, the chief executive of the UK arm of the French-owned gas and electricity group, said politicians and regulators needed to revisit the way the ETS was working and whether it was bringing the results they wanted. “We like certainty about a carbon price,” he said. “[But] the carbon price has to become simple and not become a new type of sub-prime tool which will be diverted from what is its initial purpose: to encourage real investment in real low-carbon technology.”
Green campaigners have long been critical of the way the emissions trading scheme was set up, but it is unusual for a leading industry figure to cast doubt on it, as power companies lobbied hard for a market mechanism to deal with global warming.
Europe’s carbon trading scheme has proved to be “disastrous” and a “scam” in which companies have profited with no effect on emissions, a leading politician and a scientist said yesterday.
The environmentalist James Lovelock — who developed the Gaia theory of the planet as a “living organism” — and the former environment minister, Michael Meacher, said that market approaches to green issues, such as the EU Emissions Trading Scheme (ETS), were destined to be distorted by business pressures. Lovelock described similar market mechanisms that attempt to put a price on “services” provided by the natural world as akin to “slavery”.
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