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Climate Change Bill [HL]

My Lords, I hesitate to take part in this debate at all. Noble Lords who have taken part have been enormously knowledgeable and erudite on the subject. I am neither, but one thing has haunted me the whole way through, and I hope the Minister will say that I am completely wrong. We have been concerned about controlling CO2 emissions per head and carbon reduction, but carbon credit trading and checking on emissions credits will mean a huge increase in cost and bureaucracy. I do not see how you can trade in carbon credits without setting up something like the Stock Exchange in a minor way to deal with the trading. Someone has to pay for buying these things and the structure for that to be done has to be put in place—at expense. Firms will have to check all their carbon emissions and then work out whether they should buy or sell and what they should put on the forms that will be sent to them. Irrespective of the reasoning—and very good reasoning it is too—for the objective behind this, I should like the Minister to say, ““Don’t worry. You’re completely wrong. This will not involve an increase in bureaucracy or in costs to business””. However, it looks to me as though it will.