We have a new book titled Addressing Climate Change in Malaysia: A Critical Perspective on Carbon Pricing
Have you heard about carbon trading and carbon tax? These are market-based carbon pricing policies, which are considered by Malaysia as solutions for climate change. This paper is a critical assessment of these policies from a climate justice perspective.
It discusses why carbon markets will not work and why a carbon tax is not a better alternative. Carbon offsets traded in carbon markets ironically just allow continued emissions; carbon offset projects themselves enable displacement of indigenous peoples and local communities; and carbon markets are vulnerable to financial instability and criminal activity. The carbon tax, meanwhile, will likely have only a limited impact on cutting emissions due to a myriad of loopholes, exemptions, and political constraints in determining the tax rate.
Instead, the paper urges Malaysia and other developing countries to look into real solutions beyond carbon markets and carbon taxes. The real solutions are below:
- To optimise the use of regulatory policies that set product, performance, and technology standards for emission reduction.
- The prioritisation of forests and biodiversity, with financing for these efforts sourced from international climate funds and other non-market approaches.
Climate policies need to move towards real action centred on equity and sustainability, and stay away from false solutions.
You can download the book here or click on the image to save a copy.
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