Imagine an unpopular, impotent, and fragile UK Government, trying to make political capital out of a looming crisis. To avoid being embarrassed by criticism of its shallow policies, it appoints an independent panel of experts, to which it defers controversial decisions. Now imagine that the panel proposes measures from which its members and their associates will directly benefit.
It couldn’t happen here, you may think. Scandal and resignations would surely follow. Who could possibly allow vested interests to profit from the legislation they are instrumental in creating?
This week, an independent panel of experts called the Climate Change Committee (CCC) published the details of its recent advice to Parliament that the UK should reduce its CO2 emissions by 80 per cent by 2050.
There’s no doubt there’s money to be made from this new legislation, which was passed last week. A recent conference, given the title ‘Cashing in on Carbon’ was, in its own words, “aimed squarely at investment banks, investors and major compliance buyers and is focused on how they can profit today from an increasingly diverse range of carbon-related investment opportunities”.
…Read more at The Register.