Emission rights are a form of property rights held against the planet. We need to distribute emission rights fairly, while improving incentives to do more.
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Will COP26 deliver? As Queen Elizabeth put it: “They talk, but they don’t do.” The least that should come out of the deliberations is stronger individual country commitments to reduce emissions.
Ideally, we would also agree to a global plan to keep warming from reaching 1.5 degrees above pre-industrial levels. All this seems unlikely on the current trajectory.
Financial Times
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Original URL: https://www.afr.com/companies/energy/reducing-global-emissions-can-be-simple-and-self-financing-20211103-p595m9
