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2015-09-08 | Other Publications

Push renewables to spur carbon pricing

Sterner, Thomas, Susanna Olai, Gernot Wagner, Michael Oppenheimer and Katherine Rittenhouse. 2015. “Push renewables to spur carbon pricing” Nature 525:7567
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Make wind and solar power even cheaper by opening up access to the electricity gridand ending fossil-fuel subsidies, urge Gernot Wagner and colleagues. Putting a price on carbon dioxide and other greenhouse gases to curb emissions must be the centrepiece of any comprehensive climate-change policy. We know it works: pricing carbon creates broad incentives to cut emissions. Yet the current price of carbon remains much too low relative to the hidden environmental, health and societal costs of burning a tonne of coal or a barrel of oil. The global average price is below zero, once half a trillion dollars of fossil-fuel subsidies are factored in.