"The world needs a massive carbon tax in just 10 years to limit climate change, IMF says"
View on Washington Post websiteMarc Hafstead was quoted in Washington Post article on IMF’s new carbon tax study. Listed below is the full quote:
“A global agreement to make fossil fuel burning more expensive is urgent and the most efficient way of fighting climate change, an International Monetary Fund study found on Thursday.
The group found that a global tax of $75 per ton by the year 2030 could limit the planet’s warming to 2 degrees Celsius (3.6 degrees Fahrenheit), or roughly double what it is now. That would greatly increase the price of fossil-fuel-based energy — especially from the burning of coal — but the economic disruption could be offset by routing the money raised straight back to citizens.
No environmental economist should disagree with the main argument of the paper: Carbon pricing is the single most powerful tool we have for reducing CO2 emissions from burning fossil fuels, and our current set of policies leaves us nowhere close to meeting our climate goals,” said Marc Hafstead, a climate policy expert with Resources for the Future.”
Read the full article here.
This article was re-published by The Hill here.
