Words Matter: Calling a carbon fee “a solution” sells it short, misses the point (LTE)
Washington’s I-1631 carbon fee proposal is about much more than the energy future of one state. If successful, it sends a positive signal to the markets and to other states working on similar carbon pricing initiatives, eventually leading to a harmonized, national plan with global reach.
Without a price on carbon, the many existing solutions and innovations necessary to avoid catastrophic impacts of climate change will never be implemented at the scale and speed our world needs. The consensus view among leading businesses, climate thought leaders, and the majority of economists is that we must fix the economics first. (Nordhaus)
Many call carbon pricing “a solution” when it doesn't even belong on the list of solutions. Carbon pricing does not compete with ‘solutions’ like renewable energy or your community compost program or your Tesla. Instead, it’s is a policy mechanism that would accelerate all solutions. It’s the “solution-multiplier”. There are solutions and then there's carbon pricing. Right-pricing carbon makes the solutions financially viable. It is the crucial catalyst needed to spark market transformation and unleash all low-carbon solutions at scale. The winners and the losers will be determined by the market, the consumers. Let's put a price on carbon now.
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OP-ED: 500 words
