Magazine article Public Finance

MPs Push Personal Carbon Allowance Scheme

Magazine article Public Finance

MPs Push Personal Carbon Allowance Scheme

Article excerpt

Introducing personal carbon allowances - with credits that individuals could spend on electricity or petrol - would do more to reduce climate-changing emissions than green taxes, a committee of MPs has claimed.

In a report published on May 26, the Commons environmental audit select committee expressed its 'regret' that the government had 'decided to wind down its work' on a personal carbon trading scheme, following a pre-feasibility study.

Ministers had cited public resistance to the concept and high implementation costs as reasons for dropping the idea.

But the MPs argue that personal carbon trading 'could guarantee a reduction in emissions because it places a ceiling on the carbon available for consumption, rather than seeking to reduce demand'.

A carbon allowance might offer greater incentives for people to change their behaviour and reduce emissions than 'the price signals resulting from green taxation', the report, Personal carbon trading, says. …

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