Social value of carbon revealed

Carbon pricing is likely to be one of the ingredients of the climate agreement negotiated during COP21. In 1997, the Kyoto Protocol launched the festivities via an international CO2 emission allowance trading system. It gave rise to an international carbon price which serves as a reference today. Yet carbon has several prices and limiting a ton of CO2 simply to a price defined by a market means that its social value is overlooked.

Opinion 3 MIN