Reuters

Why Carbon Pricing Isn’t Working

Good Idea in Theory, Failing in Practice

For decades, as the reality of climate change has set in, policymakers have pushed for an elegant solution: carbon pricing, a system that forces polluters to pay when they emit carbon dioxide and other greenhouse gases. Among the places that have imposed or scheduled it are Canada, China, South Korea, the EU, and about a dozen U.S. states. Much as a town charges people for every pound of trash tossed into its dump, these jurisdictions are charging polluters for every ton of carbon coughed into the global atmosphere, thus encouraging the dirty to go clean. In theory, a price on …

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