Countries around the world should urgently begin accelerating efforts to reduce greenhouse gas emissions, and the best way to do that is through implementation of carbon taxes and global co-operation, the International Monetary Fund said on Thursday.
The Fund also noted that many countries are set to miss their own targets and that the United States has said it will pull out from the Paris climate deal in 2020. Implementing a carbon tax of US$75 a ton would have the greatest impact in reducing emissions, with the price of coal rising more than 200 per cent above baseline levels in 2030.
The need to tackle climate change has become pressing, particularly among the G20 countries, as the potential impact on economic growth and financial stability has become more apparent.
globebusiness But not before we extract every last bit of oil. So no reason fretting over it. We won't even start to take it seriously until the effects are so bad it's too late.
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