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Green capitalism: negative carbon and the green power fund

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  • Graciela Chichilnisky

Abstract

This paper discusses the challenges and opportunities created for the world by the Kyoto protocol and the creation based on international law of a global market for carbon emissions trading, in particular, the significance of the clean development mechanism (CDM). The projects funded by CDM and paid for from the carbon market's funds have already achieved a real impact, they have decreased carbon emissions by the equivalent of 37% of EU emissions. The CDM projects should be expanded and improved. Carbon negative technology is available. Global Thermostat (GT) technology was formed in 2006 to develop and commercialise a unique technology for the direct capture of carbon dioxide from the atmosphere and other sources. It has been successfully trialled and has the capability of transforming power plants into net carbon sinks. This, together with the green power fund, first proposed by the author in 2009 at Copenhagen COP15 could make a significant difference to the amount of emissions being reduced by involving Latin America, Africa and the Small Island States (relatively low polluters). The green power fund, a private fund of $200 Bn per year for 15 years.

Suggested Citation

  • Graciela Chichilnisky, 2011. "Green capitalism: negative carbon and the green power fund," International Journal of Green Economics, Inderscience Enterprises Ltd, vol. 5(4), pages 321-333.
    • Handle: RePEc:ids:ijgrec:v:5:y:2011:i:4:p:321-333
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    Cited by:

    1. Chichilnisky, Graciela & Hammond, Peter J., 2016. "The Kyoto Protocol and Beyond: Pareto Improvements to Policies that Mitigate Climate Change," CAGE Online Working Paper Series 287, Competitive Advantage in the Global Economy (CAGE).
    2. Graciela Chichilnisky & Peter J. Hammond & Nicholas Stern, 2020. "Fundamental utilitarianism and intergenerational equity with extinction discounting," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 54(2), pages 397-427, March.

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