The World Bank reports that about 20 percent of global greenhouse gas emissions are subject to carbon pricing mechanisms. The governments of countries around the World are responding in different ways. What works for the United States may be very different than that of other countries.It is about economics, knowledge and politics.
Carbon cap and trade programs support environmental goals with market incentives. These conventional regulatory approaches “cannot guarantee success of reaching emissions targets and create unintended consequences, together with being very slow and very costly.
However, at New Carbon Economics we link the economic environment with that of our planetary needs,” says one of the top Carbon Venture Capitalists Ian Adlington, CEO of New Carbon Economics and Newport Capital Group.
Carbon taxes are being proposed internationally as a safe solution for budget and environmental problems intertwined in a single government policy. The experience to date is that taxing really doesn’t work.
Ian Adlington recalls his meeting with Gloria Arroyo, the former President of the Philippines, who was known for rejecting any emissions reduction proposals that would have caused her Government to spend money. The conversation was short and inconclusive. Changes in the government thinking have brought the focus onto a strict definition of black carbon, a short-lived climate forcer, which stands outside the Kyoto protocol. The solution was then found to challenge the accepted wisdom of the carbon markets and find a way to monetize black carbon within the voluntary emissions reduction market.
Even the Bush administration knew it needed to act on global warming – it just chose not to. The Bush EPA administrator, Johnson revealed in his letter dated January 31, 2008 that “the latest science of climate change requires the Agency to propose a positive endangerment finding.” The letter clearly stated that “carbon emissions are a serious threat to our nation’s welfare”, as so clearly evidenced in the Philippines and China
Ian Adlington has felt the impact of black carbon pollution in the Philippines, when he had to stop as he collapsed after running just 3 miles in the streets of Manila. Suffocated in soot, Ian realized that the World has a choice to breathe or die. No Government initiative, taxation, or complex regulatory frameworks, will be in time to help that choice.
New Carbon Economics balances economics with the planetary needs.