Jennifer
Rather than forcing countries, or firms, to reduce their own greenhouse gas emissions, Kyoto Protocol designers created – from thin air – a carbon market and gave countries a minimal reduction target (5% from 1990 emissions levels, to be achieved by 2012). They can either meet that target through their own reductions or by purchasing emissions credits from countries or firms that reduce their own greenhouse gases beyond their target level.
But as Larry Lohmann from the British NGO Cornerhouse and the Durban Group for Climate Justice remarked: “The distribution of carbon allowances [the prerequisite for trading] constitutes one of the largest, if not the largest, projects for creation and regressive distribution of property rights in human history.” Read more, Comment here
