MPs condemn govt climb down on carbon trading

MPs say the measure is a 'progressive' way of preventing climate change

Monday, 26, May 2008 12:01

A committee of MPs has condemned the government for winding down its personal carbon trading plans, saying the scheme could be more effective than green taxes.

In a report published today, the environmental audit committee urged the government to lead the way in allocating individuals an allowance of marketable carbon credits.

Tim Yeo, chairman of the committee, said: "The idea is a radical one. As such it inevitably faces some significant challenges in its development.

"It is important to meet these challenges. What we are asking the government to do is to seize the reins on this, leading the debate and coordinating research."

The government recently conducted a feasibility study into the idea but the committee accuse it of winding down its development work in the area.

Individual, or per capita, carbon trading is a popular scheme among left-of-centre environmentalists because it offers poorer households the opportunity to profit from green behaviour by selling on their remaining carbon quota to others.

"We found that personal carbon trading has real potential to engage the population in the fight against climate change and to achieve significant emissions reductions in a progressive way," Mr Yeo continued.