A viable mechanism to reduce fossil fuel CO2 emissions, such as Cap and Share, is a necessary part of any coherent action plan to avoid catastrophic climate change and end fossil fuel dependence.
There are many other aspects to the global economic and ecological crisis, though, which have to be dealt with through complementary and synergistic measures. Any element of a coherent package including Cap and Share could, on its own, be counterproductive. This chapter by Nick Bardsley, a lecturer in climate change economics at Reading University, explores some of the main issues that need to be addressed in tandem with capping fossil fuel CO2. Topics covered include a proposed substitute for the much-criticised Clean Development Mechanism, the displacement of food production by biofuels, the relationship between food and energy use, and the need for two over-arching reforms: monetary reform and a land value tax.
