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🛢💸 The real deal about Carbon Pricing: Difference between revisions
🛢💸 The real deal about Carbon Pricing (view source)
Revision as of 18:03, 19 March 2020
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===Emissions Trading Schemes=== | ===Emissions Trading Schemes=== | ||
[[File:Carbon-princing-use-revenues_2019_I4CE-PrixCarbon.jpg|thumb|Thumbnailed image|Carbon pricing: use of revenues in 2018 (in million US$).]] | |||
For a lot of economists, NGOs and politics, carbon pricing figures in number 1 position among solutions to mitigate climate change in a development-friendly way. But now that you know what is carbon pricing, and how successful it has been at generation money from polluting industries since years, you might ask yourself: “Great, now where did all this money go?” Well, in one of the earliest market, the European Union, the EU Directive announced in 2008 that half of its auctioning revenue should be used by Member States “for climate and energy related purposes”<ref>Quote from EU ETS web page. | For a lot of economists, NGOs and politics, carbon pricing figures in number 1 position among solutions to mitigate climate change in a development-friendly way. But now that you know what is carbon pricing, and how successful it has been at generation money from polluting industries since years, you might ask yourself: “Great, now where did all this money go?” Well, in one of the earliest market, the European Union, the EU Directive announced in 2008 that half of its auctioning revenue should be used by Member States “for climate and energy related purposes”<ref>Quote from EU ETS web page. | ||
source: https://ec.europa.eu/clima/policies/ets/auctioning_en</ref>. Still in EU, this money ends up in governments pockets, with fluctuating transparency about the way it is used<ref>“In a number of Member States, revenues from auctioning of allowances are not allocated to specific uses […] generally pooled in the national budget and redistributed.” | source: https://ec.europa.eu/clima/policies/ets/auctioning_en</ref>. Still in EU, this money ends up in governments pockets, with fluctuating transparency about the way it is used<ref>“In a number of Member States, revenues from auctioning of allowances are not allocated to specific uses […] generally pooled in the national budget and redistributed.” | ||