Johan Rockström, former Director of the Stockholm Resilience Centre and now at the Potsdam Institute for Climate Impact Research, and Ottmar Edenhofer his co-Director in Potsdam make the case in this Guardian opinion piece for an immediate hike in carbon tax (on carbon emissions) world wide if there is to be any hope of limiting global warming and avoiding widespread catastrophe.
Their proposal (JUST ONE OF MANY SUCH SEEMINGLY WILDLY IMPROBABLE ECONOMIC CHANGES NEEDED TO ADDRESS THE HUGE PROBLEM GIVEN ‘FREE-MARKET’ BELIEFS) follows the issue of the latest UN IPCC Report featured in my last blog.
“New global policies such as carbon pricing are needed if we are to avoid an apocalyptic increase in temperature
The already existing and planned coal-fired plants would roughly emit 330 gigatonnes of CO2 over their economic lifetime, which always exceeds 15 years. They alone would exhaust almost the whole available carbon budget for the 1.5C scenario.
Investment decisions have to be reversed now, otherwise the world economy will be locked in to a carbon-intensive pathway. To avert this, the right policies must be put in place immediately.
The climate summit in Katowice, PolandInvestment decisions have to be reversed now, otherwise the world economy will be locked in to a carbon-intensive pathway. To avert this, the right policies must be put in place immediately., in December will conclude that the voluntary contributions of the governments are currently insufficient to put the world on a 2C, let alone 1.5C, trajectory. Policies to intensify efforts are necessary. All nations need to revise their mitigation targets to accommodate the more rapid emission reductions required to truly stay well below 2C.
New global policies are needed. One such policy would be a carbon price starting around €30 per tonne of CO2, which would very likely render investments in coal-fired plants unprofitable. Zero-carbon mobility, such as electric cars, could then become an attractive option as consumers would expect an increasing carbon price, and the internal combustion engine would gradually be phased out.
Carbon pricing would be a credible signal to investors that governments are willing to act now. Governments, policymakers and civil society should heed the warnings of the IPCC report and take action immediately.”
IPCC 2018 Report findings – at a glance
Atlantic article – the battle against anthropogenic climate change is already lost
A short slide show that concludes that total renewable electricity generation without fossil fuel is feasible by 2050
Nobel Prize for Nordhaus economist who researched market solutions to global warming (carbon tax + cap & trade)