Selling CO2 permits

Selling CO2 permits

Summary: There's a coalition of American states and Canandian provinces that are in the carbon-trading market. Among the ten eastern states in this coalition New York has the largest population and thus has raised the most money: almost $42-million dollars.

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TOPICS: Emerging Tech
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There's a coalition of American states and Canandian provinces that are in the carbon-trading market. Among the ten eastern states in this coalition New York has the largest population and thus has raised the most money: almost $42-million dollars. Second is Maryland with over $34-million in revenue. Here's the full list of sales to date. More than 31.5 million carbon allowances were sold in 2008 at a price of $3.38 per ton. In the past CO2 producing industries did not have to pay for the right to dump that gas into the atmosphere. Similar carbon auctions are being used now in Europe as well. There the economic recession has curtailed CO2 emissions with little regulatory action needed. Raises the question: would a full-blown global depression reverse increasing CO2 levels in the atmosphere?

This carbon coalition is called Environment Northeast. Here's how they describe themselves: "ENE's mission is to address large-scale environmental challenges that threaten regional ecosystems, human health, or the management of significant natural resources. We use policy analysis, collaborative problem solving, and advocacy to advance the environmental and economic sustainability of the Northeastern United States and Eastern Canada.... All of ENE’s programs—climate, energy, transportation, and forestry/biofuels— focus on promoting policies that will reduce carbon emissions and help individual states and the region fulfill their climate action plans and goals."

Money raised from selling carbon permits is used for energy efficiency and conservation.

Topic: Emerging Tech

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