The Corporate Climate Coup: Carbon Colonialism

In January, 2007, USCAP issued “A Call for Action," a “non-partisan effort driven by the top executives from member organizations.” The "Call” declared the "urgent need for a policy framework on climate change;" stressing that "a mandatory system is needed that sets clear, predictable, market-based requirements to reduce greenhouse gas emissions.” USCAP laved out a “blueprint for a mandatory economy-wide market-driven approach to climate protection,” which recommended a "cap and trade" program as its "cornerstone,” combining the setting of targets with a global carbon market for trading emission allowances and credits. Long condemned by developing countries as “carbon colonialism,” carbon trading had become the new orthodoxy.