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Can Climate Change be Cured by Carbon Trading

Patrick Bond

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Abstract

The carbon market and Clean Development Mechanism projects are dubious ways Pretoria aims to mitigage emissions. One problem is the ‘additionality’ dilemma, of what kinds of emissions reductions are considered legitimate. This leads to concerns about market failure and human corruption in carbon trading, in a context of self-reporting by industry and doubts over the accuracy of emissions measurement. The essential question that is being posed by South Africa’s intensive greenhouse gas emissions and carbon trading is: Has pollution-free air become a private commodity?

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What this paper is about

The carbon market and Clean Development Mechanism projects are dubious ways Pretoria aims to mitigage emissions. One problem is the ‘additionality’ dilemma, of what kinds of emissions reductions are considered legitimate. This leads to concerns about market failure and human corruption in carbon trading, in a context of self-reporting by industry and doubts over the accuracy of emissions measurement. The essential question that is being posed by South Africa’s intensive greenhouse gas emissions and carbon trading is: Has pollution-free air become a private commodity?

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Available abstract

The carbon market and Clean Development Mechanism projects are dubious ways Pretoria aims to mitigage emissions. One problem is the ‘additionality’ dilemma, of what kinds of emissions reductions are considered legitimate. This leads to concerns about market failure and human corruption in carbon trading, in a context of self-reporting by industry and doubts over the accuracy of emissions measurement. The essential question that is being posed by South Africa’s intensive greenhouse gas emissions and carbon trading is: Has pollution-free air become a private commodity?

Key concepts: Additionality, Clean Development Mechanism, Carbon offset, Greenhouse gas, Emissions trading, Dilemma, Natural resource economics, Carbon market

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