The world needs carbon pricing – Before the Flood
Actor Leonardo DiCaprio meets with scientists, activists and world leaders to discuss the dangers of climate change and possible solutions.
In the extract below, Gregory Mankiw, a Harvard Professor and economic adviser to several US presidents, argues that putting a price on carbon is the only way for governments to transition toward clean energy. Without a financial incentive to shift away from fossil fuels, it is unlikely that the world will be able to limit the climate temperature increase to 1.5°C as agreed in Paris.
How do we make this possible? By reforming our tax systems and empowering people, shifting taxation away from labour and on to polluters.