Our world is in danger, and no one but us humans can’t help but notice it, but the same thing is going totally unnoticed to our leaders; thus, we don’t exactly have the best way to fight against it and find a solution that is effective as well as progressive. The latest bulletin from the International Monetary Fund which emphasizes the environmental, fiscal, economic, and administrative case for using carbon taxes, or similar pricing schemes such as emission trading systems, to implement climate mitigation strategies (as stated on imf website) tells about what it would take to prevent or control warming to endurable levels without wasting massive amounts money or harming any other things.
In our impressive yet destroyed world, President Trump is not even considering the problem, and the Democrats who seem to be calling for immediate action, their solutions seem to be fading.
The IMF is explaining, again and again, the same thing what economists have understood a long ago: Putting a carbon tax into practise is “one of the most efficient and powerful tool” as this tax will make it costlier to emit greenhouse gases and allow companies and factories to think upon some environmentally friendly solutions and also help them switch to greener sources and also explore for varied opportunities. Politicians should be in favor of choice and flexibility over central planning. “People and firms will easily identify which changes in behavior reduce the emissions and act accordingly. “
The IMF states that the average global price of carbon dioxide is a meager $2 per ton, while the world alarmingly needs a $75-per-ton global carbon tax by 2030 to keep warming below at the bay or to be precise 2-degree Celsius threshold as advised by scientists. This would surely increase the prices of electricity, gasoline, etc. by a huge margin, but if properly planned and executed, this would tend to work well and eventually help lower-income households and put pressure upon the elite class. The danger is far nearer than it looks, and leaders clearly deny it, all we can do is hope they take this into consideration and work on it before it’s too late.