Carbon Offset Price of $25-35/ton Would Boost Climate Action, Says ADB Climate Envoy
Feb 16,2024 | DAXTROMNSOLAR
A carbon offset price ranging from $25 to $35 per ton could significantly enhance climate action, according to the ADB's Climate Envoy. This would encourage businesses and countries to reduce their carbon emissions by providing them with a financial incentive. The pricing range is considered to be at a level that would provide adequate motivation for carbon reduction efforts without imposing an excessive burden on economies.
In my opinion, establishing a carbon offset price within this range is a crucial step towards combating climate change. By attaching a cost to carbon emissions, we can incentivize industries and governments to actively seek ways to reduce their environmental impact. This monetary incentive would drive innovation and investment in renewable energy sources, as well as encourage the adoption of cleaner technologies. Additionally, the revenue generated from the carbon offset market could be reinvested into sustainable development projects, further accelerating the transition to a low-carbon economy.
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