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At present, we lack a carbon market that effectively incentivizes emissions reductions at the scale needed to limit global warming to below 1.5 degrees Celsius. Tethering the carbon price to the cost of carbon dioxide removal provides a pathway to effectively determine the value of carbon emission reductions.
Humanity is not on track to contain global warming below the 1.5 degrees Celsius threshold, a limit that scientists argue is critical for averting catastrophic climate change. The world has struggled for decades with what is routinely quoted as the most effective tool in fighting carbon emissions: a realistic price for carbon emissions. To arrive at such a price with purely political measures has not fully succeeded.
The Most Effective Tool: A Global Price On Carbon
While dire…
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