In order to get on with major reductions in carbon dioxide emissions, within both a still functional biosphere and viable capitalistic system, the price of emitting carbon must be set — and quickly and accurately. There are two primary methods of doing so – the establishment of carbon markets [search] and the levying of carbon taxes [search]. The conservative newspaper Financial Times favors carbon taxes, as does Ecological Internet within our Lincoln Plan carbon tax campaign, and today ran an interesting series of articles which essentially find a carbon tax to be easier and more effective in pricing carbon. A recent report likens the individual market in carbon credits to “Offsetting Indulgences for your Climate Sins“. The Financial Times was equally skeptical, as their investigation of carbon credit trading concludes: “Companies and individuals rushing to go green have been spending millions on ‘carbon credit’ projects that yield few if any environmental benefits.” They found some carbon reductions paid for in carbon offset schemes are never carried out, and others would have been made anyway. The European carbon market which has been in existence the longest and is most established has given out so many carbon credits that very little reductions in emissions were necessary by industry. Ecological Internet supports a global carbon market that is well regulated, but not as a replacement for carbon taxes, which we are convinced will address the issue of pricing carbon more quickly, effectively and simply. We concur that “while short-term politics favour markets, taxes would be better in the long term because industry needs certainty for investments… A government committing to painful taxes signals the seriousness of its intentions…”
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