The Earth has been wrecked by global corporate capitalism and modern industrial consumer society and international finance has been driving this process.
Ever since the counter-revolution of the late 70s and early 80s elites have been working to create markets that benefit the narrow interests of private power.
What is now generally known as Carbon Finance, or Carbon Trading or Emissions Trading, has been developed as a market alongside health care, education, science, and all kinds of public utilties such as information, water, electricty, food etc
Some good starting points
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”.
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.
Edited by Bryan Garcia and Eric Roberts of the Center for Business and the Environment at Yale, this book presents the opinions and trend-setting experiences of leading practitioners in global carbon markets and finance on the business of climate change.