There is a new thought provoking and challenging paper from a group of British academics which puts up radical solutions on climate change. Rather than carbon trading, it suggests having a hypothecated tax which would raise the money to pay for low-carbon or carbon-free technologies.
The Hartwell paper, named after Hartwell House, the Buckinghamshire mansion, hotel and spa where the group of 14 academics from Europe, North America and Japan met in February to develop their ideas, also proposes providing electricity to the poor and reducing other greenhouse gases than carbon. These efforts could be funded by carbon taxes in industrialized countries. The approach it's taking, it says, is "politically attractive and relentlessly pragmatic".
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