Can Taxes and the Free Market Solve Climate Change?

Time is running out to avoid the worst consequences of climate change, and activists and scientists say global efforts like those seen at the recent COP26 meeting aren't moving nearly fast enough.

Can a carbon tax or some other type of carbon pricing scheme use the power of market forces to speed up this process? And if so, are these options even politically or logistically viable?

Those are the questions we ponder on today's episode of our podcast, Parts Per Billion. Sanjay Patnaik, director of the Brookings Institution’s Center on Regulations and Markets, speaks to Bloomberg Tax reporter David Hood about how a carbon tax might work in the U.S. And Frank Eich, an economist with U.K. consultancy CRU, speaks to reporter Michael Rapoport about whether carbon pricing could function across international borders.

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