Carbon trading for climate justice?

Abstract

Is carbon trading a just policy response to climate change? To answer this question, I begin by proposing necessary conditions for a just emissions trading scheme. It should lower emissions, and distribute burdens fairly. The Australian carbon trading scheme did not meet these conditions. The trading scheme legislated via the Clean Energy Future reforms included a minimal level of emissions reduction and allowed for heavy use of carbon offsets; and industry compensation has increased the wealth of some of the most emissions-intensive fossil fuel companies. While the carbon price legislation has been repealed, these issues remain relevant. Emissions trading is an established policy preference of government and advising experts and is therefore likely to be revived in the future. In conclusion, I offer a further objection to carbon trading on the basis of inappropriate commodification. We should go beyond technical-ethical moral assessment of the legislation and consider the broader social impact of marketised climate policy in Australia Show more