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Carbon pricing plays an important role in reducing carbon emissions. If we pay for carbon emissions, reducing them becomes financially desirable. Emission trading schemes have emerged as one policy instrument to deliver carbon prices. But will industry act on carbon prices or simply relocate to countries with lower carbon prices? How will consumers react to more costly products due to carbon pricing? What are the options for an international emissions trading scheme?
Dr Karsten Neuhoff from the Electricity Policy Research Group investigates the importance of carbon pricing for climate policy. His research also illustrates how carbon pricing is politically challenging and by no means sufficient for effective climate policy.
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- Enjoyed running a case study today with The Times on our staff’s personal #carbon trading scheme. Voluntary schemes such as ours work well