Carbon cap-and-trade opportunities in governors’ agreement

Posted on November 21, 2007. Filed under: Carbon, Global Warming |

Though a bit of self-promotion, an Environment/Energy Alert from the Madison law firm of Godfrey & Kahn focuses on the call for a carbon cap-and-trade system:

Wisconsin recently joined five other states in entering the Midwest Greenhouse Gas Reduction Accord, a copy of which is attached to this news alert. The most important element of this pact is the commitment to develop a cap-and-trade system for carbon emissions. This cap-and-trade system is to be set up over the next year and to be implemented by 2010.

Wisconsin businesses that become more energy efficient or pursue green energy projects may see significant financial gains under the terms of the accord, as the accord calls for the development of credits for those who work to reduce greenhouse gas emissions. Because these credits apply to past and present actions, Wisconsin businesses that act now may substantially generate valuable credits. Taking early action is especially important in light of the governor’s pact, because the pact essentially assures that there will be a robust market for any carbon reductions through energy efficiency or green energy projects. In addition, it is highly likely that there will be credit for early action under the cap-andtrade system. This means that actions taken now will allow our clients to accumulate credits that may be sold for higher value as the cap-and-trade market matures.

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One Response to “Carbon cap-and-trade opportunities in governors’ agreement”

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I hope that the Governors task force on GW endorses carbon taxing over cap and trade. Carbon tax is simpler, more immediate,less likely to be corrupted than cap and trade. With a shift off other more regressive taxes or with a per capita rebate it is also more fair.

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