Polluting power station Robert Nickelsberg/Getty Images

Carbon Pricing Takes Off

Limiting the increase in global average temperature to within 2° Celsius of preindustrial levels requires dramatic cuts in carbon dioxide emissions. One of the best ways to do that is to shift the social and economic costs of greenhouse gases from the public to the polluter.

BONN – The hurricanes that pummeled the Caribbean, Texas, and Florida this year left highways submerged, homes and businesses demolished, and lives lost. The floodwaters have since receded, but the images of upheaval remain etched in our collective memory. Recovery will take years, perhaps decades, and it will cost billions of dollars.

Experts tell us that warming oceans are causing hurricanes to become more powerful, and other consequences of anthropogenic climate change – from severe droughts in the Horn of Africa to extreme flooding in Asia – are leaving millions without food and basic shelter. But while the link between burning fossil fuels and deadly weather has been strengthening for years, policymakers have not always heeded the warnings.

This is changing rapidly. Today, countries, citizens, and a growing number of businesses around the world are finally taking action. This month, thousands gathered for the UN’s climate change conference in Bonn, Germany, to ratchet up global ambition in the fight against climate change. Following the successful Paris climate agreement two years ago, expectations for further progress and continued collaboration are high.

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