Climate Change

IMF Study / $75 Carbon Tax By 2030 Would Be Best Way To Tackle Emissions

By David Dalton
11 October 2019

$75 Carbon Tax By 2030 Would Be Best Way To Tackle Emissions
A coal-fired power plant. Photo courtesy International Energy Agency.
A global agreement to implement a substantial carbon tax would be the most efficient way of tackling climate change, according to a new study by the International Monetary Fund.

To limit global warming to 2°C or less – the level deemed safe by science – large emitting countries need to take ambitious action. For example, they should introduce a carbon tax set to rise quickly to $75 a tonne in 2030, the study says.

This would be a “quantum leap” from today’s average of $2 per tonne, IMF deputy director of fiscal affairs Paolo Mauro said.

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