2010

Strange smells and dodgy dealing
1 December 2010

I've only been in Cancun a few days, but the wind has already become a preoccupation of mine - mostly as salvation from the sticky weather.

There is one drawback - strong gusts have an unfortunate side effect of blowing in some of the more pungent odors from the lagoon behind the hotel where Friends of the Earth is staying.

So one thing we're not short of in tropical Cancun - not least because of a big extra dose which is inevitable with any UN summit - is hot air, or indeed air full stop.

It seems apt then, that trading it is top of the agenda as we enter day three of the talks here.

Or, more accurately, trading the right to emit carbon dioxide.

The EU already has a carbon trading scheme in place and is pushing hard here in Cancun for the world to accept a massively expanded carbon trading scheme to finance tackling climate change.

They want the carbon trade to provide much of the $100 billion pledged for developing countries in Copenhagen last year.

Yet there are already numerous problems with the European market - which could be multiplied if this was expanded globally.

Friends of the Earth is launching a new report today showing that over four times this amount could be generated through other more reliable and fair sources.

These include a tax on global financial transactions - hitting speculators and bankers - and cracking down on tax evasion by the very rich and big business.

Redirecting government subsidies away from supporting fossil fuels companies is another proposal - and all have been designed not to affect ordinary people in countries like the UK.

You can't say fairer than that.

So I'll be hoping the winds of change blow through Cancun - or I'll be left wondering how the stench drifting through my window could be the new global cash cow.

Henry Rummins is a communications and media officer at Friends of the Earth. He's travelling to the climate talks in Cancun to report as part of the Friends of the Earth International delegation.