Issue 1 (2009) pp. 9-22 - Saving the planet or selling off the atmosphere? Emissions trading, capital accumulation and the carbon rent / Peter Jones

Abstract

Governments are increasingly implementing emissions trading schemes, ostensibly to reduce greenhouse gas emissions. Karine Matthews and Matthew Paterson argue that the drive to implement emissions trading is primarily driven by the goal of supporting capital accumulation, rather than environmental considerations. This article ultimately agrees, but argues that their approach is not consistent with Marx’s labour theory of value. The concept of the ‘carbon rent’ is used to develop a more consistent approach to understanding how the state can use emissions trading to distribute income away from the poor and working class.