- Investigates the causes of economic imbalances.
- Investigates the effect of the global financial system and/or the monetary system in fostering a sustainable economy.
- Investigates causes tending to destroy or impair the free-market system.
- Explores and develops market-based solutions.
With this project, the Pricing Carbon Initiative (PCI) will continue with the mission launched in 2011 to build support for bipartisan carbon pricing solutions, designed to drastically reduce greenhouse gas emissions, by fostering understanding and cooperation between a wide range of organizations and opinion leaders. (www.pricingcarbon.org) This request was amended on 4/24/23 to include added funding for a 2-day retreat this May on current opportunities to promote Carbon Border Adjustment Mechanisms (CBAMs).
1) We focus on policies to correct the economic distortions resulting from the free dumping of carbon pollution into Earth's atmosphere and oceans.
2) While focusing on U.S. domestic legislation, we address design elements that transparently link with a global carbon pricing system and foster global economic sustainability.
3) A robust economic consensus suggests the need to price in the externalities associated with fossil fuel burning. Otherwise, the costs of climate change threaten to undermine and destroy global economic stability.
4) Policies to price carbon pollution will take advantage of existing energy markets to correct price signals in the use of fossil fuels that ignore the social costs of carbon. Negative externalities not included in prevailing models, such as the acidification of oceans, must be included in the mix. Pricing carbon emissions can correct the distortion in energy markets whereby fossil fuels are favored over low-carbon alternatives.
The scope of this project is national, but given the ongoing unfavorable political dynamics in Washington DC, we are also remaining attentive to international, state-based, and various legal initiatives that could be important forerunners of much-needed national pricing carbon solutions.
(Check sent: 5/3/2023)