Green capitalism: negative carbon and the green power fund

This paper discusses the challenges and opportunities created for the world by the Kyoto Protocol and the creation in 2005 – based on international law – of its global market for carbon emissions trading. In particular, it discusses the significance of the clean development mechanism (CDM). The projects funded by CDM have already achieved a real impact, they have decreased carbon emissions by the equivalent of 37% of EU emissions. The CDM projects should be expanded and improved. Carbon negative technology is available. Global Thermostat (GT) technology was formed in 2006 to develop and commercialise a unique technology for the direct capture of carbon dioxide from the atmosphere and other sources. It has been successfully tested and demostrated and has the capability of transforming power plants into net carbon sinks. This, together with the Green Power Fund, first proposed by the author in 2009 at Copenhagen COP15 could make a significant difference to the amount of emissions being reduced by involving Latin America, Africa and the Small Island States (relatively low polluters). The green power fund is a private fund of $200 Bn per year for 15 years.