The RSA has published an interim report from its CarbonLimited project which finds that personal carbon trading could be up and running by 2013. CarbonLimited was established in 2006 as a 3-year programme to analyse the effectiveness, feasibility and public acceptability of the concept of personal carbon trading (PCT).
The RSA has published an interim report from its CarbonLimited project which finds that personal carbon trading could be up and running by 2013. CarbonLimited was established in 2006 as a 3-year programme to analyse the effectiveness, feasibility and public acceptability of the concept of personal carbon trading (PCT).
Under the RSA's proposals, UK citizens would be allocated a free carbon allowance. If they wanted to emit more than their cap, they would have to buy "carbon credits" from other citizens who had emitted less. The scheme would initially be voluntary and individual caps would be set by the independent Committee on Climate Change proposed in the draft climate change bill.
The report suggess that the IT infrastructure - such as credit cards, loyalty and pre-pay cards - is already in place to develop an effective scheme, and would "cost relatively little to re-use". This would also remove the need for a central government database. The RSA says that PCT would be fairer than carbon taxes "which would disproportionately affect the least wealthy". Concern nevertheless remains over the types of emissions to include, the possibility of "double counting"‚ and the possibility that if the UK took this initiative alone it would end up at a competitive disadvantage.
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