One of the world's top climate scientists, Prof. James Hansen, head of Nasa's Goddard Institute for Space Studies, says cap and trade programs are not up to the task of dealing with climate change. Hansen says the current focus on carbon reduction targets along with carbon trading schemes make it too easy for countries to wriggle out of their commitments to curb climate change, the Guardian reports.
Hansen and his wife Anniek wrote a personal plea to Barack Obama and his wife Michelle, urging the incoming president to use policies to curb climate change. The letter contains a wish list of three policy measures to tackle climate change.
First, he wants a freeze and phase-out of coal-fired power stations that do not use carbon capture and storage.
Second, he proposes a mechanism for penalizing high carbon users while rewarding low carbon users. The idea is to tax carbon at source, then redistribute the revenue equally among taxpayers.
Finally, he wants more research into so-called fourth generation nuclear plants, which can use nuclear waste as fuel.
President-elect Barack Obama confirmed his green team last December. Some industry executives say Obama's presidency may signal good times for the sustainability industry.
