The U.S. Senate is currently debating a climate change bill that would put limits on the amount of greenhouse gases that businesses can emit, but what about individuals.
Tim Yeo, chair of the UK’s Environmental Audit Committee, suggested a personal carbon allowance might be the best way to cut carbon dioxide emissions without hurting the poor. See our article on the subject.
"We found that personal carbon trading has real potential to engage the population in the fight against climate change and to achieve significant emissions reductions in a progressive way," Yeo said. "The idea is a radical one. As such it inevitably faces some significant challenges in its development. It is important to meet these challenges."
If a carbon market was created for individuals, similar to the European Trading Scheme for companies, each person would have the right to emit a certain amount of carbon dioxide by driving their vehicles, heating their homes or leaving their lights on. If they wanted to go beyond their quota, they would buy credits from someone who lives beneath their quota.
Environmental Minister Hilary Benn said the idea had "potential" but would have to overcome practical problems.
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