A Dangerous Obsession: The Evidence against Carbon Trading and for Real Solutions to Avoid a Climate Crunch
Source: Friends of the Earth, UK
From Executive Summary:

Tackling greenhouse gas emissions to prevent dangerous climate change is one of the most pressing challenges facing humanity. The chance of keeping global average temperature increase below the critical threshold is fast slipping away. It requires a peak and decline in global emissions by 2015. Rich developed countries are responsible for three quarters of emissions historically despite representing only 15 per cent of the world’s population. They have a legal and moral obligation to make the biggest reductions and provide finance and technology to developing countries to compensate for climate impacts and support clean development. But developed countries have largely failed to take sufficient action to reduce greenhouse gas emissions or provide this much-needed finance to the developing world.

In this context carbon trading is increasingly being put forward as a tool for tackling climate change. Proponents of carbon trading argue that it helps to reduce emissions, and that it does this at the lowest cost, stimulates investment in low-carbon infrastructure and can help generate finance for developing countries to tackle climate change.

This report evaluates whether carbon trading can deliver these emissions reductions quickly, strategically, and in a just and equitable way. It also looks at what alternative tools are available to governments.

+ Direct link to document (PDF; 5.9 MB)
+ Executive Summary (PDF; 2.5 MB)

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