Environment ministers from G20 nations failed to agree on peaking global emissions by 2025 and other crucial issues to address the global climate crisis at their meeting in India on Friday.
Let’s fix that with carbon pricing: tax & dividend, applies to emissions but also captured atmospheric carbon, stored underground.
So every participant in the carbon marked pays for what they emit.
The revenue can be split among:
Funding removal
Distribute per capita to make the tax progressive
Fund things like renewables
This could
make it profitable to run efficient carbon removal
net pay people who manage to live a low-footprint life
It always would
create incentives for everyone involved (private people, investors, corporations, research) to make decisions which reduce emissions, if only to save / earn money.
Price point: Take the current average price for removing one unit of greenhouse gas. Emitting one unit costs that much, increased by a factor (to fund more than just removal, or to achieve negative emissions).
Let’s fix that with carbon pricing: tax & dividend, applies to emissions but also captured atmospheric carbon, stored underground.
So every participant in the carbon marked pays for what they emit.
The revenue can be split among:
This could
It always would
Price point: Take the current average price for removing one unit of greenhouse gas. Emitting one unit costs that much, increased by a factor (to fund more than just removal, or to achieve negative emissions).