Why do we need carbon pricing?

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Carbon pricing is needed to internalize some of costs of use of carbon-based fuels which are not currently part of the cost.

 

The costs include

  • environmental and

  • societal costs

  • Including

    • pollution,

    • impact on public health,

    • global warming and

    • climate change.

 

These costs are considered a “negative externality” or the costs borne by a third party i.e. neither the producer or consumer.

 

The following video by Climate Reality Project describes the carbon pricing and the need for it.

 

 

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