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As major markets around the world add various forms of carbon tax, in the United States a country-wide price on carbon is a political non-starter
Political hurdles are harming the United States’ chances of cutting emissions through financial instruments
MISSING IN ACTION Repeated attempts to launch a federal tax on carbon have failed, despite having some success at state level
POLITICAL CAPITAL US lawmakers know the opposition to a carbon tax is so great it is better to focus climate-mitigation policies elsewhere
KEY QUOTE Carbon pricing is not a silver bullet; it is a powerful tool ...
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When China later this year introduces its emissions trading system, it will double the combined size of all existing carbon markets.
A recent World Bank study reveals global carbon revenues are rising sharply, but only around 42% are used for environmental projects. It shows European and American citizens prefer their governments to spend carbon revenues on low-carbon initiatives, so why is political will lagging behind asks Susanne Dyrbøl from Rockwool Group
Brexit, by excluding the UK from Europe’s carbon emissions trading system, has stripped British industry of the value of its carbon credits. Rescue options being considered by the UK government include linking back to the EU market, but also taking the risk of joining an immature multinational carbon trade cooperation
The introduction of a carbon price in the building sector will only encourage fuel switching and burden those least able to pay with the cost of decarbonisation. If implemented, it should be complemented with legislation to boost energy efficiency, says Monica Frassoni of the European Alliance to Save Energy
Europe is considering taking the bold step of introducing a border carbon adjustment tariff on goods imported from regions where carbon pricing is lacking, placing trade right in the middle of its climate ambitions
Border carbon adjustments (BCAs) are technically difficult to design and politically challenging to implement. If BCAs are going to succeed, the European Union (EU) will need to engage trade partners from the start, says E3G’s Johanna Lehne
