The Wall Street Journal has an article on climate change (Cap and Charade) which looked at the issue of businesses getting sucked into the climate change debate. See previous blog from 27 January for the first mention of this. It focuses on the artificial scarcity in CO2 emissions caused by a cap-and-trade system, and the perverse incentives a plan to introduce such a system creates for businesses. Efficient (“green”) businesses which already have low carbon emissions are seeking to get their allowances set as high as possible so they can make big windfall profits from selling their CO2 rights.
A nasty cynicism on the part of businesses has crept in around climate change – whereas they used to fight the climate change agenda on the basis that it would force them into changes in practices that would be detrimental for their businesses, they are now embracing it at least in some cases because they see a way to make a quick buck. But of course this lends additional false legitimacy to the whole campaign and it could end up coming back to bite them if it adds further to the “the debate is over” trend we’re seeing.
Comments are closed
Comments are currently closed on this entry.