A Price Tag on Carbon as a Climate Rescue Plan

California’s program is the latest incarnation of an increasingly popular — and much debated — mechanism that has emerged as one of the primary weapons against global warming. From China to Norway, Kazakhstan to the Northeastern United States, governments are requiring industries to buy permits allowing them to emit set levels of greenhouse gases. Under these plans, the allowable levels of pollution are steadily reduced and the cost of permits rises, creating an economic incentive for companies to cut emissions.

The system encourages companies to find the least expensive ways to make the cuts, either by adopting cleaner energy technology or by investing in outside emission-control projects.

A Price Tag on Carbon as a Climate Rescue Plan

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