How piecemeal carbon pricing affects cross-border lending
In June the IMF made the latest of many calls from economists for a market-oriented policy to tackle climate change. “Carbon pricing... is the least-cost option to deliver deep emission cuts,” it argued in a paper written ahead of a meeting of the leaders of the G20 group of large economies. Carbon taxes, as this newspaper has long argued, can be a powerful way to force polluters to pay for the harm they do to the environment by burning fossil fuels.
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