TFF Proposes Localized Carbon Trading and Mitigation Program
Voluntary carbon trading and mitigation programs have recently been established within the European Union with trading offices in London and in Chicago, and carbon offset businesses, such as Terrapass and Native Energy, are growing rapidly across the U.S. The New England States have created a regional, climate trading pact, though implementation is still in negotiation. In North Carolina, NC GreenPower is offsetting emissions by promoting investments in alternative energy, and CleanEnergy Durham is reducing our County and City’s carbon footprint one home at a time by promoting solar heated water, electricity and compact fluorescent usage as well as weatherization of homes. Duke University’s Pratt School of Engineering, Nicholas School of the Environment and Fuqua Business School have led the nation in universities committing to the purchase of wind energy through the national Green Power programs. Though Federal leadership has been lacking on this front, more investment organizations and insurance companies are looking to find market mechanisms to efficiently affect positive change to reduce human impact on the our climate and avert what are likely to be expensive and catastrophic effects of fossil fuel consumption.
It is certain that carbon trading and mitigation are coming fast and furious from the private sector and State levels, offering an opportunity for local systems to eventually link up. Using voluntary systems of private-public sector programs, a local system could be developed that may be as effective as any system offered to date and possibly more tenable to manage. Local businesses, organizations and government could develop a voluntary system of trading and mitigation that would directly benefit area communities, keeping resources local. In this way, local organizations can instead of offsetting their carbon emissions by buying wind energy in say, Texas, government, businesses and organizations could offset carbon by investing in alternative energy projects locally.
Investments could include: biodiesel and ethanol production; solar water heater and electricity installations; or subsidizing compact flourescent lighting or weatherization for low income Durham citizens; or supporting local, open space land acquisition for carbon sequestration, etc. A list of energy and carbon mitigation equivalents can be calculated and used, along with simple web-based calculators, to begin the process of moving our community towards carbon neutrality. A minimal fee may be charged to manage the overhead. The use of a non-profit may allow the mitigation and trading to be tax deductible, or can be expensed off annual budgets as a cost of doing business. Numerous grants and tax incentives are available as well for taking advantage of energy conservation and efficiency. Organizations such as the new Nicholas Institute at Duke, the certificate program in Energy and Environment or a graduate program might be able to help design this system and house it within a non-profit, like CleanEnergy Durham or The Forest Foundation.
Why not start the revolution and get going locally and link up with a state or national system when they come? Lets do it for our kids, and do it now!
Contact: The Forest Foundation, CleanEnergy Durham (www.cleanenergydurham.org) or the Durham Healthy Environment Working Group for more information or to get involved.