The United States should create a $300-billion hot spot in the United Nations’ global warming agenda, according to one of the country’s leading climate scientists.
The United States and other nations could help by establishing a global carbon trading scheme that would enable it to offset its emissions from fossil fuels, the director of the Climate and Energy Program at the Institute for Energy Economics and Financial Analysis (IEEFA) told Axios in an interview.
That scheme would then be used to help the world deal with the climate crisis.
The United Nations Framework Convention on Climate Change (UNFCCC) would require a global emission cap for each country, and it requires countries to commit to a global climate action plan that would be put into practice through the UNFCCC Framework Convention for Sustainable Development.
But the IEEFA’s director, Adam Pashinsky, says that’s a nonstarter in the current climate.
He says a $200 billion global cap is unrealistic.
Pashinski’s team has proposed a global cap of $350 billion.
“We need to look at it from a different perspective.
The idea of a global emissions cap, if it were to be enacted, would have to be in a country that would actually meet that,” he said.
“We don’t need that cap.”
Instead, Pashinks proposal calls for a cap on the global carbon emissions that the world is already emitting.
The cap would be set at 1,000 tons per year.
“If we’re doing the right thing by the people and the planet and by the future of our children, then we should be able to achieve that, and that’s where we should set the cap.
If we’re not doing the wrong thing by our children or the future generations, then that’s when we should have a cap,” Pashinsk said.
Pashinsk believes that even if a $350-billion cap is adopted, it would not be enough to meet the carbon emission targets in the 2030 goals set by the UN.
“It’s not going to be enough,” he says.
“And we’re talking about $2 trillion worth of carbon emissions.
The next generation of children, and the next generation in the future, are going to have to deal with this.
We have to have a carbon emissions cap.”
Pashinsky argues that the United Kingdom could use its new leadership to help put the issue of climate change to bed, and to take the lead in establishing a carbon market for emissions trading.
“The UK is going to lead in creating the carbon market and then having the world take part in the market.
The United Kingdom has been leading the way in setting the rules and in taking the lead on the market,” he explained.
The UK government has already indicated it will introduce legislation to introduce carbon markets, which Pashinsy believes would be a “huge step forward.”
The United Kingdom would have a “significant impact” on the international community, he said, citing the “historic” decision by the United Arab Emirates to allow the carbon price for natural gas.
“There is a strong market for carbon and it would be in the interests of the world to create that market,” Pachinsky said.