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Global Pricing Scheme for Carbon Emissions Possible in U.N.

Global Pricing Scheme for Carbon Emissions Possible in U.N.
Image via Flickr by Señor Codo

Renewable energy is a major focus in Europe right now, particularly in Denmark, Norway, and Sweden. These countries want to lower their dependence on fossil fuels, eliminate carbon emissions, and make changes that prevent global warming. Some U.N. companies are speaking out in a big way, asking officials to create a global pricing scheme for carbon emissions.

The pricing scheme would essentially create a tax on companies who create a large amount of pollution through carbon emissions. This would encourage companies to look for cheaper ways to create energy. Many argue that the tax or pricing scheme would only translate into higher prices for consumers and not affect energy companies in a positive way. It’s unlikely for the pricing scheme to actually happen, but officials are looking at other possible reforms. ExxonMobile and Chevron also stated that they would not support a global pricing scheme for carbon emissions.

In a letter sent to one of the U.N.’s top climate experts and officials, Christiana Figueres, six companies stated their support for a global pricing scheme for carbon emissions. The letter said, “Our request to policy makers as they prepare for the U.N. talks is not to ask for special treatment for any resource, inclusing natural gas, or any single route to a lower-carbon future. It is rather to ensure that the outcome of these talks leads to widespread carbon pricing in all countries.”

Government officials are trying to figure out a way to combat climate change, but it’s difficult because movements need to be made on a global scale. Plus, going green is expensive, which is why so many countries and companies are hesitant to even try. Creating a global pricing scheme for carbon emissions could work, but it could also make the situation worse. It’s hard to predict how the market would respond to such radical changes.

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