Email   Print

Hey buddy, can you spare some carbon credits?

Personal carbon trading could enable consumers to reduce carbon emissions and make money too.

The number of CRAGs is growing steadily. The UK has 17 groups, each with a membership of between 40 and 230 people. In the U.S., Atlanta and Washington, D.C. are set to host groups. Plans are in the works to start CRAGs in Canada, Australia, France and India.

CRAGs are, in effect, mini-PCTs. Each group sets its own objectives, and trading can take place only between members of the same CRAG. Groups can’t yet trade with one another. Ross’ group was established last year with the aim of capping energy use at an average of 4.5 tons per person, 10 percent less than the British personal average. For 2008, the Stratford-upon-Avon CRAG is striving for an additional 10 percent cut. That represents a significant savings, particularly considering the British government has given itself 40 years to reach its goal of reducing carbon emissions by 60 percent.

Ross exceeded his limit in 2007 and had to pay a fine of about $240. The money was divided up among the group members who’d kept themselves within the consumption limits. “I spent most of the year living in a very drafty house and travelled quite a few kilometres to visit my family,” he explains. “I’ve now moved closer to my family so the number of ‘love miles’ has fallen drastically and my new home is much better insulated.”

The aim of the CRAGS is to provide insight into how—and how much—consumers use energy. More importantly, CRAGs help teach participants how to limit the number of kilometres they fly and drive as well as the fuel and energy they consume. Moore calls the CRAGs a step in the right direction, “particularly when you consider that private consumers in the U.S. are responsible for 30 percent of the world’s CO2 emissions,” she says. “American households would save an average of $1,000 a year if they cut their energy use by 10 percent. And if they did, greenhouse gas emissions worldwide would decline by 1 percent. In the grander scheme of things, that’s significant.”

Interest in private energy credits has increased sharply over the past two years. Carbon Limited, a U.K. trial project to determine to what extent PCT is practical, is one of the forerunners in Europe. “Everyone is allocated the same amount of carbon dioxide,” Carbon Limited’s director, Matt Prescott, explains. “A lot of low-income people are also low-energy users, so they can benefit from this system by selling their surpluses.” So far, more than 3,500 participants have signed up with Carbon Limited. A trading system is expected to be developed within five years that will enable every British citizen to purchase extra carbon credits or sell their surpluses.

<< PREVIOUS   1 2 3 NEXT >>
view as a single page