The Story of Cap & Trade
Why you can’t solve a problem with the thinking that created it
watch the 9-minute film that makes it clear
on who wins and who loses with the pending
Carbon Cap and Trade legislation.
The Story of Stuff Project and Climate Justice Now!-an international network of climate justice advocates-recently released The Story of Cap & Trade, a 9-minute animated film on carbon trading hosted by Annie Leonard, the creator of the viral video hit The Story of Stuff.
The Story of Cap & Trade takes a provocative but humorous look at cap and trade, the leading climate solution under consideration on Capitol Hill. Employing the same urgent honesty that made The Story of Stuff so successful-and flash animation that makes it clear who wins and who loses-The Story of Cap & Trade points to the 'devils in the details' in current cap and trade proposals: free permits to big polluters, fake carbon offsets and, most importantly, distraction from the significant tasks at hand in tackling the climate crisis.
What Is Cap and Trade?
Cap and trade, also known as carbon trading or emissions trading, is one of the leading proposed solutions to the global climate crisis. The climate legislation currently under consideration in the U.S., for instance, proposes a national cap and trade system for greenhouse gas emissions.
Under cap and trade schemes, individual governments or intergovernmental bodies, like the United Nations, set a limit on greenhouse gas emissions allowed within a given time period—that’s the cap. In order to keep carbon emissions below the set cap, companies are allotted “carbon permits” or “emissions allowances” that allow them to release limited amounts of carbon dioxide into the atmosphere. If a company plans to pollute more than their allotted limit, they can buy permits from companies that haven’t used all of theirs—that’s the trade.
Proponents of cap and trade argue that innovative companies will invest in technologies that lower their pollution levels below their cap, giving them a surplus of permits they can sell to companies that need them because they are exceeding their own pollution limits. The logic is that as long as we stay under the cap, it doesn’t matter who pollutes and who innovates.
"The Story of Cap & Trade helps viewers understand what's on offer from world leaders and argues that we can and must do better," said Annie Leonard, Director of the Story of Stuff Project. "We're releasing the film now to ensure that Americans and others clearly understand the solutions on the table and to inspire them to push our leaders for real solutions to climate change."
The film introduces the people at the heart of cap and trade, including the guys from Enron who designed energy trading, and the Wall Street financiers like Goldman Sachs. Its animated characters walk viewers through both the theory of emissions trading and how it works in the real world, reminding viewers that when this $3 trillion bubble bursts, it could take down everything.
"Current cap and trade proposals hand the future of our planet to the very people who created the problem in the first place. We need effective and just solutions to climate change, not gimmicks and giveaways to polluters," said Daphne Wysham, Co-Director of the Sustainable Energy and Economy Network.
The Story of Cap & Trade also points to more effective ways to tackle the climate crisis. The film's website will serve as an interactive launch pad for information with actions people can take to address the climate change crisis. The site features dozens of organizations working toward real climate solutions, offers viewers a series of ways to get involved and includes downloadable resources and information, including a footnoted script.
For more information to or watch the 9-minute film, visit www.storyofcapandtrade.org.