Cameron Hepburn

9 May 2013

The Voice of Russia (American Edition) – What’s the future of carbon credits?

Cameron Hepburn

It was seen as the perfect fusion of capitalism and environmentalism. With the difficulty of getting international agreements to curb the rising level of carbon dioxide, it was hoped market credits would do the trick.

One carbon credit gives a firm the right to emit one ton of carbon dioxide, and this could be traded for money.

They were designed to combat climate change, but the carbon credits market, once seen as big a commodity as oil, is suffering the fate of any sector in the economic downturn. Now the price appears to have collapsed entirely, falling below $4, as bickering European nations fail to agree on measures to shore up the program.

The Voice of Russia American Edition hosted an international panel to discuss the topic.


Rob Sachs, host of the Voice of Russia American Edition

Ashley Lawson, a senior analyst at Thomson Reuters Point Carbon

William Yeatman, an energy policy analyst at the Competitive Enterprise Institute

Brendan Cole, host of the Voice of Russia UK Edition

Dr. Cameron Hepburn, a senior research fellow at the Grantham Research Institute on Climate Change at the London School of Economics

Damien Morris, a senior policy adviser at the Sandbag Climate Campaign