Simon Linnett, Executive Vice-Chairman of Rothschild, has called for a new international body, the World Environment Agency, to regulate carbon trading.
In Trading Emissions, a provocative paper published on Wednesday, Mr Linnett argues that the International problem of climate change demands an international solution. Unless governments cede some of their sovereignty to a new world body, he says, a global carbon trading scheme cannot be enforced and regulated.
The publication is released on the same day as the European Commission publishes its proposals to extend the Emissions Trading Scheme to new EU countries.
Mr Linnett’s essay, published by the Social Market Foundation think-tank, outlines the framework that governments should create, in order to allow the private sector to effectively to take the lead in combating climate change. It also discusses the steps that must be taken in order to successfully bring the growing economies of India and China into a Carbon Trading scheme, as well as the United States.
Finally, the author suggests a site for the new World Environment Agency:
“London is a world financial centre… With a politician of character and vigour to espouse the principles of emissions trading and to a suitable site – the old County Hall might be the obvious one – London would make a compelling case to house the World Environmental Agency.”
The publication is available for free download via
www.smf.co.uk. For media enquires, please contact Robert Sharp, Communications Officer:
rsharp@smf.co.uk or
020 7227 4411
