CET scientist Endre Tvinnereim on carbon pricing in Nature

It is often argued that putting a price on carbon is the best way to limit climate change. That is, price-based mechanisms, such as a tax on greenhouse gas emissions, or tradable permits in a cap-and-trade system, are generally considered as efficient methods for finding out where one can reduce emissions at the lowest possible cost.

However, the logic of least cost may not be as useful in a situation where essentially all global emissions need to be cut. That is the message of Michael Mehling (Massachusetts Institute of Technology) and CET-affiliated researcher Endre Tvinnereim (Uni Research Rokkan Centre) in a short correspondence in Nature on 13 December (link, http://www.nature.com/articles/d41586-017-08578-7), where the authors call for more attention to  portfolios of mitigation instruments, including phase-out policies and infrastructure investment, both in policy and research.