Grass roots activists committed to a sustainable Rochester
Summary of the Article, "The Final Cut," from a Special Report on Business and Climate Change
April 3, 2009
After you read this, Please comment on your favored method to climate control.
You can calculate your carbon footprint by clicking on Carbon Calculator.
Summary of the Article, "The Final Cut," from a special report on business and climate change.
Risks for climate change enthusiasm: voguishness of the issue, volatility of the oil price, and political. Climate change is a collective problem so governments, through their voters, can work to solve the problem.
Among the ways for governments to persuade companies to constrain carbon are subsidies, standards, and a carbon price. Companies like receiving subsidies and governments like handing out taxpayers' money, but subsidies are inefficient because they require governments to choose technologies to support. Standards set by governments are usually not a good idea because governments are worse at allocating resources than the private sector. A carbon price established by a tax or a cap-and-trade system is likely to be the best way to cut emissions.
A tax sets a price and allows it to determine the amount of carbon dioxide emitted. A cap-and-trade system specifies the amount that may be emitted and allows the price to vary. A tax would be the better option, but business does not like taxes
Possible good news is that according to Richard Newell of Duke University a carbon price could be set to make a difference to climate change without severe negative impact on the world economy. The Intergovernmental Panel on Climate Change estimates that the average annual growth in GDP would be 0.1% lower by 2050 with a carbon price of $20 to $50 per tonne.
What is necessary for carbon dioxide stabilization at 550 parts per million by 2050 is that the entire world adopt a carbon price.
"The Final Cut," The Economist, June 2, 2007, Vol. 383, No. 8531, pp. 28-30.
After you read this, Please comment on your favored method to climate control.
You can calculate your carbon footprint by clicking on Carbon Calculator.
Summary of the Article, "The Final Cut," from a special report on business and climate change.
Risks for climate change enthusiasm: voguishness of the issue, volatility of the oil price, and political. Climate change is a collective problem so governments, through their voters, can work to solve the problem.
Among the ways for governments to persuade companies to constrain carbon are subsidies, standards, and a carbon price. Companies like receiving subsidies and governments like handing out taxpayers' money, but subsidies are inefficient because they require governments to choose technologies to support. Standards set by governments are usually not a good idea because governments are worse at allocating resources than the private sector. A carbon price established by a tax or a cap-and-trade system is likely to be the best way to cut emissions.
A tax sets a price and allows it to determine the amount of carbon dioxide emitted. A cap-and-trade system specifies the amount that may be emitted and allows the price to vary. A tax would be the better option, but business does not like taxes
Possible good news is that according to Richard Newell of Duke University a carbon price could be set to make a difference to climate change without severe negative impact on the world economy. The Intergovernmental Panel on Climate Change estimates that the average annual growth in GDP would be 0.1% lower by 2050 with a carbon price of $20 to $50 per tonne.
What is necessary for carbon dioxide stabilization at 550 parts per million by 2050 is that the entire world adopt a carbon price.
"The Final Cut," The Economist, June 2, 2007, Vol. 383, No. 8531, pp. 28-30.
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