The Hindu Business Line : Now, carbon credit cards to tackle climate change

Carbon credit cards may soon become part of one's wallet in countries like the UK. As Britain grapples with what is touted to be its warmest year yet, its Government is outlining policies to rope in individuals as foot-soldiers to tackle climate change.

So, in addition to laying down green policies for industry, the British Government is rolling up its sleeves and drawing up plans to get the individual involved. And the carbon credit card proposal, that sets out to personalise responsibility and make individuals accountable for the energy they consume is just one of the initiatives on the UK Government's radar.

In his recent pre-budget report earlier this month, the Chancellor, Mr Gordon Brown, increased the price on fuel, doubled air-passenger duties and gave sops to zero-carbon, energy-efficient homes to tackle climate concerns. The economic case for combating climate change at government and individual levels was further nailed recently by the Stern report, commissioned by the UK Government. Sir Nicholas Stern, a former World Bank chief economist, is the architect of the report.

Professor Julian Hunt told Business Line that an expert on climate-modelling at the University College London and member of the House of Lords, pointed out that the Stern report outlined the cost of delaying doing something and the cost of doing nothing.

The UK's carbon credit card proposal is a pet-project of its environment secretary Mr David Milliband. And the aim is to initiate carbon trading among private citizens, as happens already between nations in line with the Kyoto protocol.

Actual process

Explaining how it works, he said, each person would be given a certain number of carbon credits to start with. When he or she buys petrol, uses electricity etc, credits get reduced from the card. So a person who does not own a car, could sell carbon credits in the market to another consumer who may need more to support additional flights that he or she may need.

Carbon credit cards do not penalise everyone like a carbon tax. In fact, carbon rationing is very equitable, Mr Tyrell says. The scheme may be about five years away and there are still resolved issues on whether carbon credit cards would be voluntary etc.

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