Clarke, R.H.;
Maslin, M.A.;
(2024)
A virtual global carbon price is essential to drive rapid decarbonisation.
UCL Open: Environment
, 6
, Article 13. 10.14324/111.444/ucloe.1983.
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Abstract
Dealing with climate change is now an infrastructure challenge. Within the next 30 years our energy generation must switch from fossil fuels to renewables. New buildings need to be zero-carbon and existing buildings need to be retrofitted. Our global transportation network will need to be transformed. Delivering the Net Zero World is an engineering challenge. But to do this we need a globally agreed virtual carbon price so that every single infrastructure project can be assessed in terms of its impact on carbon emissions and thus planetary health. We propose a loss-and-damage-based carbon price that is enhanced or reduced by variable, national impact factors. Carbon intensity weighting would further increase the price’s impact.
| Type: | Article |
|---|---|
| Title: | A virtual global carbon price is essential to drive rapid decarbonisation |
| Open access status: | An open access version is available from UCL Discovery |
| DOI: | 10.14324/111.444/ucloe.1983 |
| Publisher version: | https://doi.org/10.14324/111.444/ucloe.1983 |
| Language: | English |
| Additional information: | © 2024 The Authors. This is an open access article distributed under the terms of the Creative Commons Attribution Licence (CC BY) 4.0 https://creativecommons.org/licenses/by/4.0/, which permits unrestricted use, distribution and reproduction in any medium, provided the original author and source are credited. |
| Keywords: | carbon, climate change, carbon price, net zero, engineering, loss and damage |
| UCL classification: | UCL UCL > Provost and Vice Provost Offices > UCL SLASH UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS > Dept of Geography |
| URI: | https://discovery.ucl.ac.uk/id/eprint/10215433 |
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