Certainly it is a plausible option. One dimension is to develop an appropriate mechanism to effectively operationalize the scheme. The long term effect of this can then be evaluated for lessons.
For me, I don not believe carbon trading can tackle climate change. Carbon trading is just a scheme by industrialized nations to continue their emission without impedance. The monetized aspect of it is just to appease the developing nations and not to see the developed nations as culprits that can not be disciplined. The best way is for every nation, both developed and developing to vehemently reduce their carbon emission not to trade.
There should be a step towards that. If we leave nations to work at it without enforcement it will surely fail. Carbon trading is step in that direction.
It certainly have the potential of compelling countries to identify more humane measures to cut emission
Clement!
I think you mean the practice, not the concept! we can still abuse the best ever approach, but that does not undermine the concept behind it.
Like the Kyoto protocol that some developed nations undermined.
This certainly could be the case when worked out properly on a worldwide scale. For instance the UN and others are developing a trading scheme, REDD (Reducing Emissions from Deforestation and Degradation), in order to reduce emissions from deforestation and degradation; thus helping lowering the rate of net CO2e added into the atmosphere.
We, in the grassroot areas, are hoping this trading scheme would come into fruition. Of course as Clement said, this does not ensure total mitigation of climate change as these rich industries are just like buying their way out from their immense emissions. However, this scheme could encourage the grassroot communities to maintain or enhance forest protection or reforestations as they would receive incentives with these activities. These grassroot communities are usually farming communities and in protecting the forests, their livelihood became limited. And if they can't provide for their families because of limited livelihood, it's inevitable that they would turn into cutting the trees in exchange for food. Some of these communities are protecting the forests for a very long time without incentives, making them mostly the poorest of the poor communities.
In my community, they already started measuring carbon even though the market of it is still not concrete. =/
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