Rein in carbon emissions with a global carbon tax

There is growing consensus that we need an international carbon price floor as well as a global carbon price to achieve climate change goals in the Paris Agreement.

Pricing carbon, specifically through a global tax, is one way to address equity issues and reduce emissions. PHOTO: REUTERS
Gift this subscriber-only story to your friends and family

Countries are increasingly committing to mid-century “net-zero” targets under the Paris Agreement, but achieving the goal of limiting global warming to 1.5 deg C to 2 deg C – the threshold to avoid catastrophic climate change – requires cutting greenhouse gas emissions by a quarter or up to half in this decade.

Making sufficient progress in stabilising the climate therefore requires ratcheting up mitigation measures in the near term, and it is a challenging task indeed to get all 195 parties in the Paris Agreement to do so simultaneously.

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and straitstimes.com

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Join ST's Telegram channel and get the latest breaking news delivered to you.