The government has axed its research programme into personal carbon trading in light of a study that claims it is ‘ahead of its time' and with implementation costs too high.

The Department for Environment, Food and Rural Affairs (DEFRA) has said that "the government remains interested in the concept of personal carbon trading and, although it will not be continuing its research programme at this stage, it will monitor the wealth of research focusing on this area and may introduce personal carbon trading if the value of carbon savings and cost implications change".

Personal carbon trading requires individuals to manage their own CO2 emissions. The concept suggests a national emissions cap would be set and carbon credits would be allocated across the population. Carbon credits would be used on purchases of commodities such as electricity, gas and transport fuel: those who need more credits than their allowance would be able to trade with those using less.

Source

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