Abstract
This article responds to criticisms of “Left Clouds Over Climate Change Policy” ( RRPE vol. 44 no. 2) made by Gar Lipow in “Shutting Down the Fog Machine” ( RRPE vol. 47 no. 2). It explains (a) why Lipow’s criticisms are either beside the point or invalid; (b) why once national emissions are capped fairly for all countries, trading emission reduction credits cannot possibly undermine global reductions if countries meet their treaty obligations; and (c) why if national caps are set fairly – i.e. according to differential responsibility and capability – carbon trading would not only reduce political resistance in advanced economies to deeper global reductions, but generate annual flows of payments from MDCs to LDCs far in excess of any “climate reparation payments” that could be expected.
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