![]() ![]() ![]() As a consequence, PCAs have good prospects to raise the level of cognitive awareness of carbon emissions, change prevailing social norms around emissions and help educate societies on pro-environmental choices and behavior.Īdditionally, PCAs offer a way out of the classic collective action problem, wherein people may be demotivated to act against climate change if they are surrounded by others who are not making a similar or greater effort to address the problem. With a limit on carbon allowances, people must think carefully about their consumption choices. PCAs are also likely to have non-economic advantages. By contrast, with a carbon tax, a wealthy person may be able to maintain profligate levels of carbon heavy consumption, whereas a poor person may struggle to cope with increased taxes on their consumption. However, PCAs are more equitable than carbon taxes in that everyone gets the same initial allocation–something that is conspicuously absent in most markets. Like a carbon tax, PCAs put a price on carbon. How effective are PCAs in curbing emissions? Various voluntary schemes and small-scale schemes for PCAs have also been proposed. PCAs have been referred to as electronic tradable energy quotas (TEQs) in the United Kingdom (UK), cap and share certificates in Ireland, household carbon trading in California, centrally managed tradable transport carbon permits in France and European Union (EU) emissions trading for households and transport embedded within a larger EU emission trading scheme. Substantial proposals for PCAs have already been made in a number of countries, though they vary in their details as well as in name. Tracking carbon allowances as well as trading them could be done relatively easily via a smartphone or similar device. PCAs possess a level of flexibility that is not present in a simple rationing system, namely that additional carbon allowances can be purchased from those who are willing to part with excess credits. The allowances might initially only apply to domestic gas, electricity and personal travel, but over time a PCA scheme could potentially be expanded to cover most goods and services that have a significant carbon footprint. What are Personal Carbon Allowances (PCAs)?Ī PCA issues all adults with an equal carbon allowance that reduces over time in line with national targets and international commitments. Given this, are there any innovative policy instruments that could be utilized to quicken the curbing of emissions?Ī personal carbon allowance (PCA) is one such possibility with the potential to mitigate emissions and address climate change. Note: Emissions data include carbon dioxide and other greenhouse gases converted to carbon equivalents. ![]() ![]() As illustrated in Figure 1, there is a large gap between global emissions with current national policies and the emissions level needed to achieve the target 1.5⁰ temperature rise relative to pre-industrial levels.įigure 1: Global Greenhouse Gas Emissions Under Alternative Scenarios Source: Climate Action Tracker. However, the international community is not currently on a sufficiently ambitious carbon emissions reduction trajectory to avoid non-catastrophic global warming. In recent decades, addressing climate change has gained increased attention as climate disasters have become more widespread. Are Personal Carbon Allowances the Missing Policy for Addressing Climate Change? Zurich, Switzerland. ![]()
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