In colloquial terms, the precautionary principle can be expressed through the old adage that it is ‘better safe than sorry’. In the context of the climate crisis, this implies that it is better to err on the side of caution today than to risk the situation spinning out of control tomorrow.

Had the precautionary principle been properly applied decades ago, we would have averted the unfolding climate crisis we are now experiencing. Today, the signs of climate change are becoming increasingly obvious, as temperatures reach record high averages, and droughts, heatwaves, wildfires and storms become ever more frequent. Yet, despite this there is hesitation in some quarters to take the necessary action due to inertia, vested interests, or the absence of absolute certainty. 

However, climate change is affecting many people, and will affect everyone in a significant way without appropriate action and commitments to tackle emissions outputs and carbon footprints. Therefore, legislators are encouraged to enact the precautionary principle into their policy design to ensure action happens before it becomes too late.

This approach is mentioned regularly in the construction and shaping of environmental laws and regulations, where it encourages parties not to postpone taking action to prevent damage to the environment from climate change.

Carbon Market Watch strongly endorses this principle, and encourages carbon market actors to adopt conservativeness to their transactions to ensure that meaningful climate actions are taking place.