Government publishes personal carbon trading study

News Article - Friday, May 09, 2008

filed under: Regulatory

The government has published the results of a new study into personal carbon trading that explores new ways of encouraging individuals to take action to tackle global warming.

According to the evaluation, personal carbon trading "has potential to engage individuals in taking action to combat climate change".

However, the Department for Environment, Food and Rural Affairs (Defra) reports that the scheme is "essentially ahead of its time", with high expected costs for implementation.

The government states that it remains committed to the concept of personal carbon trading and will monitor research being carried out in the field.

Personal carbon trading may be introduced by Defra if the value of carbon savings and cost implications change, with individuals issued with a number of carbon credits, which can then be traded with others.

Reducing carbon footprints is becoming increasingly important to British businesses and carbon accounting software can help firms to assess and reduce their impact on the environment.

Retail giant Tesco recently launched new carbon labelling for 20 of its products as part of scheme to give consumers more choice and information about the environmental impact of the items they purchase.

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