The Greenhouse gas (GHG) emissions debate is sure to leave the community divided.

In the short term, there are several ethical problems with Jasper’s proposal to sell its carbon offsets. The Alberta plan is widely flawed with a reliance on intensity based targets, many offsets in the program are considered poor and may not offer greenhouse gas savings and the price of the offsets is too low to actually change behaviour. Furthermore, the ethical gymnastics required to justify selling carbon credits  to large emitters so they can continue to pollute are hard to justify. Following the money often leads to murky moral choices. Cutting emissions and slowing climate change shouldn’t be about the money.

However let’s be realistic. The cap and trade program isn’t perfect, but it’s likely the best system Alberta is going to see in the near future. The chances of this government introducing a carbon tax or placing a hard cap on carbon emissions is basically nil due to the heavy reliance upon tar sands development.

By participating in the program, Jasper sends a message that it in principle wants to participate in the reduction of GHG emissions. The legislation is still fluid, so there is the opportunity for tighter controls to be introduced in the trading system and if the town doesn’t like the direction of the program, it can opt out. There is a better chance of influencing the agenda as a participant than as an objector – but the key word is chance.

The town could net $50,000 if it proves to be eligible for the process, which in turn could be used for other green initiatives, or an expansion of the composting program that is producing the revenue. Over the long term, this could grow substantially if its partnered with other GHG cutting programs.

Council should ultimately decide what to do with the revenue generated from the program. The government’s protocol on eligible composting credits could soon change, so now is the  best time for Jasper to realize a return on its composting program.

Other nations have adopted cap and trade systems, and as long as there is a firm commitment to drop the cap over time, ultimately reducing the total amount of GHG emissions, the program appears to work in theory. The Alberta government is claiming to have reduced GHG emissions by 6.3 million tons in 2008 through the program.

A word of warning though, carbon trading systems were developed primarily on Wall Street, by those who saw an opportunity to profit from another trading floor. These are the same architects of the world’s economic woes, so caution is required.

Jasper could also wait to see what plan the federal government will unveil, however there is little chance that will be unveiled in the near future.

Jasper should take advantage of the carbon offset program, but continue to monitor the evolution of the carbon market. There is relatively low risk involved in the program, and if reductions aren’t seen by large emitters, Jasper can pull out of the program. Getting into the market is a scary step, but one that could ultimately cut provincial GHG emissions.