Home > Australia, Climate Change > >Pointless waste of money goes ‘live’

>Pointless waste of money goes ‘live’

>Here’s an article to warm the hearts of all of us skeptical of the proposed carbon trading schemes being the solution to global warming.

Australia’s first carbon trading exchange went live at midday on Monday, setting the bid price of $8.50 a metric tonne.

The exchange is a joint venture between the existing niche bourse – the Australian Pacific Exchange – and a new entity, the Australian Carbon Exchange.

Diversified telecommunications services provider M2 Telecommunications Group Ltd became the first buyer – placing an order to purchase $5,000 worth of carbon offsets on the exchange.

“M2 has made a commitment to social and environmental responsibility within our company charter,” M2 managing director Vaughan Bowen said.

“While the carbon footprint generated by the telco industry is not as substantial as other sectors, every sector should be contributing.”

At 1201 AEST on Monday, 600 metric tonnes of Australian Greenhouse Office – accredited voluntary emission reductions (VERs) – were traded on the exchange at $8.50 each.

Let me work that out. 600 x $8.50 = ……$5,100. So the twat from M2 Telecommunications is the only one to have made a trade. If this exchange lasts then I’ll be quite impressed, especially as it must be starting from a squillion dollars behind in set up costs.

All of the babble over the last six months has been that a price of $30/tonne is needed in order to drive behaviour. I have a huge doubt about the reality of that figure, as the tax on petrol in Europe equates to more than $200/tonne and usage since 1990 is up around 25% while CO2 emissions have also risen. Maybe that’s why industry is pushing so hard for the $30 figure to be adopted – the impact will be minimal.

Still, it’s all about appearances so if enough supercilious ninnies want to spend their money decorating their offices in the latest New Age bling – carbon emission certificates – then who am I to argue?

Categories: Australia, Climate Change
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