Climate protestors threaten to shut down London’s carbon market

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London, 5 February: After attracting thousands of climate protestors to the Kingsnorth power station and Heathrow airport, the Camp for Climate Action has turned its sights on leading carbon trading platform, the European Climate Exchange (ECX).

The campaign group has called for action on 1 April, a day ahead of the G20 summit in London, and is promising to shut down ECX to “highlight the link between the financial crisis and the climate crisis”. Its website urges protestors to meet outside ECX’s London office and “bring a pop-up tent, sleeping bag, wind turbine, mobile cinema, action plans and ideas … let’s imagine another world.”

Further details of the action – such as its duration and the practicalities of setting up camp in the middle of London’s financial district – are not being revealed at this time, a spokesman said.

The protestors would peacefully target ECX – which runs an electronic market in carbon allowances and credits – but he added there was “always the possibility of affiliated groups doing autonomous activities around the city”.

The group argues that carbon trading makes no contribution to the reductions needed in greenhouse gas emissions. It states: “In 2009, the Camp for Climate Action has decided that it is time to camp against the over-arching problem: absolute faith in unfettered markets and endless economic growth.”

The camp spokesman told Environmental Finance: “We have already seen how the free market has failed so spectacularly. We are using that same set of ideologies to address climate change, and that’s not going to work.”

ECX chief executive Patrick Birley declined to comment.