Listen: Putting a price on carbon
Carbon markets have been hailed by policymakers as a solution to climate change. But how do they work? Will they be effective in bringing emissions down to levels set out in the Paris Agreement? Or are they simply an exercise in greenwashing? ING's Samuel Abettan explains in this podcast
At this year's virtual World Economic Forum, US climate envoy John Kerry said the world is paying a heavy price for carbon emissions through environmental damage and health conditions tied to pollution. But he said, there's a smarter way forward. Policymakers hope that by making businesses pay for the damage they cause, through Emissions Trading Systems and voluntary carbon markets, greenhouse gasses will be reduced to levels that the earth can sustain. In practice though, carbon trading is both complicated and controversial, as ING Economist Samuel Abettan explains to Senior Editor Rebecca Byrne in this podcast.
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