A virtual global carbon price is essential to drive rapid decarbonisation
2024
A virtual global carbon price is essential to drive rapid decarbonisation
publication
Evidence: high
Author Information
Author(s): Clarke Richard H., Maslin Mark A.
Primary Institution: University College London
Hypothesis
A globally agreed virtual carbon price is necessary to assess the impact of infrastructure projects on carbon emissions and planetary health.
Conclusion
Implementing a loss-and-damage-based carbon price can effectively track progress towards net zero at a national scale.
Supporting Evidence
- A virtual carbon price can help assess the environmental impact of infrastructure projects.
- Carbon intensity weighting can provide a more effective pricing mechanism for different energy sources.
- Historical emissions and economic development should be considered in carbon pricing to address climate justice.
Takeaway
We need a global price on carbon to help everyone understand how their projects affect the environment, just like how we pay for things we use.
Methodology
The study proposes a method to calculate carbon intensity weighting for energy sources and how it can be incorporated into a virtual carbon price.
Digital Object Identifier (DOI)
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