(First a note: I'm thinking of turning this into a series: an environmental diary, maybe biweekly, on Friday nights. And, as this is my first diary, constructive criticism is welcome.)
Emissions trading is a system where countries can trade "emissions units" to each other. This won't solve global warming entirely, but is a step ahead.
How will emissions rights help? Go below the fold.
(Advance warning: no gay white house reporters involved)
First every country gets a certain amount of greenhouse gas emission units. (GGEUs)They're given on a per capita basis, which is essential. Someone in the United States or Europe does not have an inherent right to pollute more than an African or Asian. The GGEUs are given based on the current level of emissions. If any country emits more than it's GGEUs allow, it can buy more on the open market from countries with excess.
The key is that there is a financial incentive to reduce emissions, which is lacking form other plans. Industrialized nations will want to emit less so they don't have to buy as many GGEUs. Poor countries will want to emit less so they can sell more. It will also help redistribute wealth a little more evenly, as the money would flow from the 1st world to the 3rd world. Emissions rights would probably be reissued every decade so as to keep with countries changing populations.
The system isn't completely fair. Poor countries probably deserve more per-capita than rich countries, since they have already done so much damage to the Earth. But there has to be compromise somewhere.
Can emissions-rights work?