market-incentives-key-to-fixing-carbon-pollution

Market incentives key to fixing carbon pollution

Countries must find common ground on emissions before a global solution to carbon controls can be reached.
There is no silver bullet that will undo the effects of global warming, but markets can play a key role in encouraging businesses to use clean technologies. One of the cheapest ways to create such incentives is through so-called cap-and-trade schemes, said Paul Ezekiel, Credit SuisseÆs global head of carbon trading. Ezekiel was speaking at the Credit Suisse Asian Investment Conference in Hong Kong yesterday.

Time is running out though. Floods, hurricanes and droughts are categorised today as extreme climate events, but Ezekiel believes it is time to start thinking of them as extreme economic events. Every day of inaction, as the Stern Review on the Economics of Climate Change argued, has a cost implication....
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