Cap and Share
12 November 2007
Contact - Will Howard - 07854 239099 - info@capandshare.org
New scheme would pay people to combat climate change
Interview dates
London: Monday 19, Tuesday 20 and Wednesday 21 November during the day.
Called cap-and-share in Europe or cap-and-rebate in the US, social entrepreneur and writer Peter Barnes will outline details of a scheme that would pay people to combat climate change at meetings in London, Oxford and Cambridge next week and in a newly published booklet on the internet.
"When you cap greenhouse gas emissions," observes Barnes, "the value of the emission permits can either go to the polluters, the government or to citizens."
‘‘From a political perspective, a carbon cap with rebates.... would lock in popular support for emission reductions no matter how high fuel prices rise,” says Barnes. ‘‘On top of that, it would take politicians off the hook for rising prices. Politicians can say ‘the market sets prices and you determine by your own energy use whether you gain or lose’.”
With cap-and-share, a yearly declining cap is placed on emissions and an equal allocation of permits given to all individuals which they can then either destroy - to cut emissions - or sell to the primary fossil fuel supplying companies.
The scheme caps emissions, increases the price of carbon-based energy in all goods and services and automatically compensates or rewards the majority of people using the average or less fossil fuel.
Europe's Emissions Trading Scheme gives most of the permits to big polluters and has so far failed. It is predicted to only level out the 45% of CO2 emissions it covers by 2012 while passing increased energy costs on to consumers.
The UK Climate Change Bill aims to cap and cut greenhouse gas emissions but the Government has yet to decide on the mechanisms to deliver the cuts.
In Ireland, cap-and-share is being studied as a leading option by Comhar, the Irish Sustainable Development Council, and by the Minister for the Environment John Gormley.
Governments can use cap-and-share to prepare their economies 'ahead of the curve' for a low carbon future and to start building an eventual international agreement from the ground up.
Contact
Will Howard - 07854 239099 - info@capandshare.org
Meetings
London, Monday 19th November 2007, 7.30 - 9 pm
London School of Economics, Hong Kong Theatre, Clement House, Aldwych
Chaired by Andrew Simms, Policy Director new economics foundation
Hosted by LSE Public Lectures and Events, This event is free and open to all.
Oxford, Tuesday 20th November 2007, 7 - 9 pm
Oxford Council Chamber, Town Hall, St. Aldate’s
Chaired by Dr Nick Eyre, Leader of Lower Carbon Futures group, Environmental Change Institute
Hosted by Oxford City Council, this event is free
Cambridge, Wednesday 21 November 2007, 6.00 to 7.15 pm
Judge Business School, University of Cambridge, Trumpington Street
Hosted by the Judge Business School, this event is free
Note: cap-and-rebate and cap-and share
Cap-and-rebate (USA) would sell emission permits on behalf of people and rebate money to them.
Cap-and-share (Europe) would give emissions permits to people to sell.
Both schemes would have the same economic effect and are based on the same principle that that "the sky belongs to all of us".
