No climate crisis agreement at G20 environment meeting
No climate crisis agreement at G20 environment meeting
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.
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Yeah, because combating climate change doesn’t make money
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).