‘Fierce urgency’ but division
Setting a price on carbon pollution is widely viewed as a key step toward curbing emissions in time to avoid environmental catastrophe. A carbon price raises the cost of polluting, making cleaner power or technologies more competitive while generating tax revenue that can be used to prevent or respond to climate change.
Cap-and-trade systems and carbon taxes both set a price on carbon, but in different ways.
A cap-and-trade system breaks the total amount of allowable carbon pollution into 1 ton pieces that are auctioned off to carbon dioxide emitters, creating a market for carbon credits that can be sold to industries in other states
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