Office for National Statistics
Voluntary Carbon Markets
Book

Voluntary Carbon Markets

An International Business Guide to What They Are and How They Work

Ricardo Bayon, Amanda Hawn and Katherine Hamilton
Earthscan, 2007

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Editorial Rating

8

Qualities

  • Innovative
  • Applicable

Recommendation

This book is dense and technical, yet worth the time of any reader with a serious interest in climate policy. Ricardo Bayon, Amanda Hawn and Katherine Hamilton do a good job of explaining how the carbon markets work and how they relate to other important markets, such as that for renewable energy certificates (RECs) in the U.S. They offer a sampling of expert opinions on the role and the future of these markets. The authors openly express their view that climate change is a reality and that the markets can help solve it. Yet, at the same time, they are dispassionate, reasonably objective and fair in their presentation of dissenting views. getAbstract recommends this book to corporate leaders who wish to become more socially responsible and to anyone interested in sustainable practices.

Summary

The Change in the Climate-Change Debate

The hurricanes of 2004 and 2005 caused enormous damage, and added evidence to the case for global warming. Although some skeptics still contend that the trend toward a warmer planet is part of a natural cycle, most scientists concur that it is a result of human activities. Thus, the debate over climate change is no longer about whether it is happening but rather about what to do. Dealing with climate change is not simply a political challenge – it is a moral imperative. It’s an opportunity to make a better world.

How Markets Can Reduce Greenhouse Gases

Dealing with global warming is not a job only for research scientists and technology innovators. It is also a job for markets. To keep the level of greenhouse gases (GHGs), including carbon dioxide, in the atmosphere stable, businesses that emit less than a certain amount of these gases receive credits, or offsets, while those that emit more must pay. In Europe, for example, polluters must pay between seven and 30 euros for each ton of carbon dioxide they emit. Without this system of credits and fines, industries would always choose to pollute, since that choice does not...

About the Authors

Ricardo Bayon is director of a leading ecosystem and environmental markets Web site. Amanda Hawn is the Web sites’s managing editor and Katherine Hamilton is head of carbon programs.

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