Climate change may be an existential crisis, but in their day-to-day lives, many people are more worried about the problems created by the most obvious solution than by climate change itself. These alternatives — like clean-energy mandates and subsidies — are less efficient than carbon pricing, as skeptics like Nordhaus point out. [Read about new legal strategies to make the world’s biggest polluters pay for climate change.] The province of British Columbia enacted a carbon tax in 2008, and it has worked well. One option, he suggested, would be a carbon price that was both delayed until future years and initially low, increasing later.

Source: New York Times April 10, 2019 02:26 UTC