This cartoon shows how your climate-income, your increased costs (due to a pollution-busting carbon price on the things that you buy) and your emissions would change over time* if a climate-income policy (also called carbon fee and dividend) was adopted by the UK government. Most household's gain more than they lose—especially low-income households—and this policy gets us 80% of the way to net-zero in 2050!
Climate income—the 80% solution that leaves no-one behind.
* The carbon-cost, climate-income and emission-reductions shown here are approximate. Changing the assumptions of the economic model changes the specific results a little but not the broad picture of a single policy that benefits the least well-off and cuts emissions.
Carbon pricing as an international strategy.
To look at the effect of carbon pricing on a somewhat more global level Climate Interactive has produced an online climate change solutions simulator which can be used to simulate and test different climate change mitigation policies. Do try it! These results have been produced using the simulator:
- Current projections indicate the planet is on track for a baseline global warming 3.6ºC by 2100.
- Ending fossil fuel subsidies made no material difference: 3.6ºC
- Subsidizing renewables barely budged the global temperature: 3.5ºC
- Subsidizing renewables + aggressively taxing Fossil Fuels: 3.0ºC
- Pricing greenhouse gas (carbon) pollution as per IPCC recommendations: 2.6ºC.