Resources: Power Point

The approach to climate change that came to grief in Copenhagen in December 2009 is based on fetishism about molecules, numbers and targets. By trying to stuff politics, uncertainty, and history into a black box that is then set to one side, it has ensured its own demise. Tackling global warming effectively requires facing, rather than evading, the realities of inequality, conflict, exploitation, context and uncertainty.

Carbon trading proponents often assert that trading is merely a way of finding the most cost-effective means of reaching an emissions goal and a source of funding that leaves everything else exactly as it is. In fact, carbon trading undermines a number of existing and proposed positive measures for tackling climate change.

Emissions trading constitutes one part of carbon trading schemes such as those associated with the European Union Emissions Trading Scheme and the Kyoto Protocol. Emissions trading delays structural transition away from fossil fuels, hands out large assets to the biggest polluters, and cannot be enforced globally.