Climate Justice Now!| IS THE CARBON MARKET WORKING? Why not ask business? (sixth in a series) | Wednesday, December 07, 2005 |
"Industrial gas projects* are the bad boy of the Clean Development Mechanism. But that's what the market delivers -- surprises. It's like the US sulfur dioxide market, which worked only because of railroad deregulation [which happened to make low-sulfur coal delivery cheaper]. A market will always discover unexpected things."
-- Jack Cogen, President, Natsource, speaking in Montreal, 5 December 2005.
*Industrial gas projects generate huge amounts of CO2 emissions rights allowing carbon-intensive industry to continue business as usual. Yet they do nothing to ensure a transition to a lower-carbon future, because they just get rid of non-CO2 greenhouse gases such as HFCs using bolt-on end-of-pipe technological fixes.
by: ProfMKD @ 7:27 PM