Just a year ago, ‘cap and trade’ was the basis for a national climate change bill. Today it is widely discredited. Lawmakers felt they had to give away so many pollution allowances to get passage, it became known as ‘cap and tax’. Today, ‘cap and dividend’ would auction allowances, simply, to all.
The dust has settled at COP27, the 27th United Nations Climate Conference at Sharm El-Sheikh in Egypt where a record 45,000 people registered to attend. The longest running summit of all the conferences, agreements made in the final moments has left us all with hope but also doubts.