The Right Price

By 2100, global temperatures could be 3ºC to 4ºC [5.4ºF to 7.2ºF] higher than those on record for the preindustrial era. While this increment seems small, its effects on climate stability are huge. For United Nations policy makers at the 2015 Paris climate meetings, the challenge was to convince countries to implement measures that would hold the increase to 2ºC. According to environmental fiscal expert Ian Parry, the most effective approach to reducing fossil fuel emissions has three components: carbon taxes, monitoring and high-value allocation of new tax revenues. getAbstract recommends this brief but astute article to anyone responsible for crafting environmental policy.