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Polluters face price pain as global carbon trading system moves forward
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theguardian.comThe world’s biggest polluters have amassed trillions of pounds in profits over recent decades amid the steepest rises in carbon emissions and global temperatures on record. Yet despite this surge, and the well-understood economic consequences of the climate crisis, there have been only incremental moves to put a price on polluting.
This could be about to change, however, after a breakthrough at the Cop26 climate summit in Glasgow this month which set out the principles that could finally force polluters to pay.
Carbon markets typically take one of two forms: mandatory, government-led emissions-trading schemes that force major polluters to match their annual emissions with “allowances” that must be bought and sold within a market, like
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