Governments are committed to doing something to reduce the amount of greenhouse gases we release into the atmosphere. The UK Government’s White Paper on Energy sets the target of 60% reduction of emissions by 2050.
Researchers at the UK’s Tyndall Centre for Climate Change Prediction have imagined a possible solution.
Their system of personal trading for carbon emissions would imply that instead of being forced to pay a carbon ’tax’, you would each hold an allowance from which units would be deducted. For example, your own annual greenhouse gas allowance would be “spent” each time you fill up with petrol or pay an electric or gas bill.
Welcome to life under Domestic Tradable Quotas!
With DTQs, every adult in the UK would have an equal number of units (can we say ration?) and would be able to choose how they spend those units. High users would be able to buy any available surplus units from low users.
The idea is being seriously considered – it has already had a hearing at the House of Commons and a second reading in the House is scheduled for next month.