President Obama stood in the chamber of the United Nations General Assembly last week and urged the world to follow his example and fight global warming. But a major new declaration calling for a global price on carbon — signed by 74 countries and more than 1,000 businesses and investors — is missing a key signatory: the United States. The declaration, released by the World Bank the day before Mr. Obama’s speech at the United Nations Climate Summit, has been signed by China, Shell, Dow Chemical and Coca-Cola. It calls on all nations to enact laws forcing industries to pay for the carbon emissions that scientists say are the leading cause of global warming. ... On carbon pricing, there’s a perfect storm taking place, said Robert N. Stavins, director of the environmental economics program at Harvard. There is increasing recognition that approaches that have been taken in the past haven’t worked, and that the only way one can affect the hundreds of millions of decisions is through price signals. Over the last year China has enacted seven pilot cap-and-trade programs in its provinces, although outside experts remain skeptical of Beijing’s plans as the nation’s carbon emissions continue to rise. Thank you to Barb Coddington for the link.
Posted on: Sat, 27 Sep 2014 23:04:49 +0000
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