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Home Uncategorized

The Prospects of Putting a Price on Carbon

by Richard Matthews
January 7, 2015
in Uncategorized
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Some developments have occurred in 2014 that lend credence to the possibility of carbon tax or some form of carbon pricing legislation. Previously, despite the overwhelming evidence that this is a powerful way of advancing climate action, it has been a political hot potato.

However, in 2014 a Ceres group by the name of BICEP, called for more aggressive policies including putting a price on carbon. This initiative was supported by some mainstream companies including General Mills, Kellogg’s, and Nestle.

Institutional investors are also calling for a price on carbon. Over 1,000 companies, and 70 countries have signed the World Bank Price on Carbon.

Even the former President of Goldman Sax, Republican Hank Paulson, supports putting a price on carbon.

California has been a longtime participant in a cap and trade scheme. The state has demonstrated that you can simultaneously cut emissions and grow your economy. California has cut emissions by 4 percent while growing by 2 percent.

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