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We are running out of time — greenhouse gases are accumulating in the atmosphere due to our unprecedented burning of fossil fuels, securing global warming in the short term and theprospect of irreversible climate change in the long term. The overwhelming consensus of the scientific community is that our planet is in trouble, we are living unsustainably and we must change our ways soon, unless humans want to go the way of the Dodo.
And yet, despite living in such environmentally crucial times with every day more critical than the last, there is little our leaders can agree on. In Congress, for example, legislation promoting more stringent carbon emissions regulations is consistently beaten down due to our political system, largely funded by – and thus beholden to – the fossil fuel industry.
And even more alarming is the defining sentiment to emerge from this summer’s 20th annual United Nations Conference on Sustainable Development, Rio+20. Conservation organizations were unanimous in their outrage that no sufficient progress toward sustainable development has been made since the conference started 20 years earlier. This trend of inaction will continue at least until the devastating and, by then, irreversible effects of global warming are realized, or as long as certain powers remain in control.
That said, let us take some time to consider these powers, along with their proposed plan to solve our ongoing climate crisis: a policy called cap and trade.
Cap and trade is best understood in two main parts. First is the “cap,” wherein government regulators set a yearly limit on the amount of carbon emissions companies are allowed to release into the atmosphere. Companies that exceed this limit face hefty fines, while companies that release carbon emissions under the limit (investing in renewable energy or otherwise reducing their emissions) are rewarded with government subsidies. The cap will decrease every year until we eventually reach a safe and ideal level of carbon emissions.
This first step probably sounds pretty good, and that’s because it is – I am strongly in favor of the “cap” portion of cap and trade. The real problem lies in the second part.
The trading aspect involves those aforementioned government subsidies. Subsidies are rewarded to companies that release less than the yearly carbon limit, in the form of tradable credits called carbon credits. Companies that receive carbon credits will be able to sell them via a multi-trillion dollar market in which companies that wish to continue polluting will be required to purchase credits, unless they’d rather pay heavy fines.
The whole idea is to solve the climate crises and build our economy at the same time by implementing a market system that gives companies incentives to innovate and reduce carbon emissions. In theory, the policy sounds like a reasonable way to address our environment. However, when we take a closer look and put our current crisis in an evolutionary context, cap and trade appears to be not only an unnecessarily complex, potentially inefficient solution, but also a policy that undermines our species’ fundamental coexistence with nature and our finite biosphere.
At the heart of cap and trade is a concept called natural capital, which is essentially the practice of putting a price tag on nature by means of protecting it. A questionable notion, it’s what led scientists to determine the worldwide value of insect pollination, mainly bees, at $217 billion in 2008 in an effort to measure the economic vulnerability of pollinator decline.
But by establishing the overall value of a natural process, an invaluable process, we are effectively placing ourselves above nature. Let’s get one thing straight: We, as humans, are not above nature. We are a part of nature. We seem to have forgotten this, trashing our planet and taking it for granted since the dawn of industrialization.
Global warming is an extremely important issue that must be addressed, but we cannot undermine the truly priceless role of nature in the process. Cap and trade policies are seemingly well-intentioned and might, troublingly enough, prove to be the most practical approach to addressing our endangered climate. However, if we were to put a value on any kind of natural process, the price tag should always be infinite.
Because if we fall victim to a inefficient cap and trade system (or if we continue on our track of simple inaction), and our species suffers, eventually succumbing to the grip of a preventable environmental catastrophe, our only certain future will be as another layer in Earth’s fossil record.
As always, though, nature will endure.
Originally printed in The Maneater