Three Steps To Get Ahead Of Climate Change

Governments Are Failing Their Citizens on Climate Change. Here’s How They Can Fix It

Borge Brende, September 24, 2018 (Time Magazine)

“…A climate comeback story is possible…[That is why business leaders] put extreme weather events and failure to adapt to climate change at the top of the World Economic Forum Global Risk Report this year…[Now policymakers] should implement three measures to make emitters pay the social cost of carbon…[First, energy], environment and finance policies should no longer $100 billion in subsidies to the production, and use, of fossil fuels, and…forest-destroying agricultural expansion…Second, introduce carbon-pricing mechanisms…[Almost 40 countries, including China, have] carbon “cap-and-trade” mechanisms…Finally, make emitters pay for the true social cost of carbon…[Rules reform] put European emission allowances at 18 euros ($21)…The real challenge is to get this market price even more in line with the actual societal cost: either directly through taxes, or indirectly by further limiting allowances…[MIT researchers have put the costs] at $75…[A]fter the last few years of climate fire and fury, we know there is a high price to pay for non-action…” click here for more

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