why the CPRS is a *maximum* abatement target

19 02 2009

Richard Denniss nails the CPRS with this piece. Absolutely correct: the whole Green Power scheme, for instance, will become totally meaningless in terms of reducing overall emissions. I suppose the best it does it work towards building the infrastructure momentum we ultimately need, but no abatement is realistically going to occur with such a criminally low target operating under standard energy demand growth.

Personally, I used to think emission trading was a wonderful idea. Now I think it’s just so open to gaming, manipulation, and fraud (‘offsets’ anyone?) that the reality is hopelessly compromised…