Academy stresses role of market in climate change
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Royal Academy of Engineering product story
Edited by the Engineeringtalk editorial team
Nov 1, 2006
The Royal Academy of Engineering says that market based instruments and engineers were critical to providing the solutions to the problem of climate change.
The Royal Academy of Engineering says that market based instruments and engineers were critical to providing the solutions to the problem of climate change.
Commenting on Sir Nicholas Stern's Review on the Economics of Climate Change, Philip Greenish, Chief Executive of the Royal Academy of Engineering, said: "Market based instruments have a vital role to play in reducing CO2 emissions".
"Neither an entirely voluntary nor a purely regulatory approach is likely to be effective".
"We need to go with the grain of human nature and give countries, organisations and individuals an incentive to protect the environment".
"Climate change is an international problem requiring international solutions".
"So we support the creation of an effective European emissions trading scheme, with a view to linking it to other countries and states over time".
"Our national tax system should be revised".
"A tax levied on the amount of carbon emitted should be introduced so that the organisations responsible for producing the most CO2 and the drivers of fuel inefficient vehicles pay more".
"Building regulations should be framed to encourage energy efficiency".
"Better insulation and solar panels should be provided for in new domestic properties to help individuals play their part in addressing climate change".
"This could be further encouraged through the planning process".
"The Government should also come to a quick decision on the future of nuclear power and the disposal of nuclear waste".
"Prevarication is no longer an option".
Greenish concluded: "The UK is responsible for just 3% of global CO2 emissions".
"However, we have the opportunity to develop and export to the rest of the world innovative engineering solutions to improve the efficiency of energy use, to reduce energy demand and to capture and store CO2".
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