Ahh, carbon prices. Those pesky, politically fraught penalties governments slap on pollution and the polluters who emit it. Carbon taxes and pricing schemes could be our golden ticket out of climate change, but a new report shows just how far we have to go to put an effective price on carbon. Welcome to the carbon price gap, the distance between a country’s current CO2 price and the low-end benchmark of an effective carbon tax (around $35). Earth is on track to warm more than 2 degrees C, a threshold at which ice sheets collapse at breakneck speeds, small island nations drown, and natural disasters pummel coastal regions. At their current rate, carbon prices won’t overlap with the actual cost of carbon pollution until 2095. We simply don’t have that kind of time. The report, titled Effective Carbon Rates 2018, shows that the carbon price gap is closing at a “snail’s pace.” The carbon pricing gap for a group of 42 countries surveyed in the study dropped from 83 percent in 2012 to an estimated 76.5 percent this year. We’re talkin’ 6.5 percentage points in six years . This is how much more each country needs to tax emissions to […]

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