The Baptist and the Bootlegger

An unlikely coalition for climate control

Ronald Bailey | November 16, 2006

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p class="MsoNormal c2"> span class="c1">One Green "Baptist," Matthias Duwe, from the Climate Action Network , explained his group's support for carbon markets by saying, "Environmental effectiveness is what counts. What we want is absolute reductions in emissions. Sending signals to business is secondary." In other words, they are against environmental sin and they think that carbon markets will help stamp out the sin of emitting noxious greenhouse gases. Right beside him on the panel sat an earnest climate Bootlegger, Kate Hampton, a policy advisor to a British merchant bank that has established the $1 billion Climate Change Capital fund that invests in carbon markets. She thinks there's plenty of money to be made if the politicians and bureaucrats set stringent limits on how much carbon companies can emit. Hampton aptly described the European Union's Emissions Trading Scheme (EU ETS) as a "policy-driven market." o:p> /o:p> /span> /p> p class="MsoNormal c2"> span class= "c1"> o:p>  /o:p> /span>