By Mathew Carr – PRESS SUMMARY PLUS COMMENT
Problem: It’s not fair if rich countries still make money from new fossil fuel projects.
Solution: Let’s trade carbon for climate justice.
See this from the Times:
Nicola Sturgeon has refused to condemn plans to drill in the controversial Cambo oil field after warning about the knock-on effect of rejecting the plan.
In a question-and-answer session after giving a Ted Talk to an audience in Edinburgh on the impact that small countries can have on climate change, the first minister was pushed on her position about the project off Shetland.
She has been accused of sitting on the fence after urging Boris Johnson, the prime minister, to reconsider the drilling licence for the field but refusing to oppose it outright….
So in this case the UK (or companies) would potentially use money from Cambo field to pay emerging countries for climate damage…or buy emission credits from emerging countries.
This is how carbon trading might work under Paris, for those willing to participate in it.
(Updated to improve explanation)