The careful implementation of a Caribbean carbon pricing regime could help reduce greenhouse gas emissions but should be associated with a redistribution of any revenues

Petchary's Blog

As the UN Climate Change Conference (COP26) draws ever closer, I will try to focus more on some of the issues that Jamaica and the Caribbean should be paying attention to. Here is the latest from the Office of the UN Resident Coordinator in Jamaica, on the Jamaica Economy Panel’s (JEP) deliberations on carbon pricing.

And what is that? To quote from economist Dr. Olaf J. de Groot’s article:

Carbon pricing is an effective instrument in reducing greenhouse gas emissions. Carbon pricing means making emitters pay for the costs that the public purse currently absorbs, such as those in the form of damage to crops, health care costs from heatwaves and droughts, and loss of property from flooding and sea-level rise. The two primary ways to administer a carbon pricing regime are through anemissions tradingscheme (where the limited amounts permitted are traded between emitters) and a

View original post 852 more words