Assign market-based incentives a role in climate action4 min read 21 Nov 2022, 10:49 PM IST
We should use learnings from others’ efforts and plan on launching a national carbon market by 2025
The surprisingly hopeful sci-fi book, Ministry for the Future, by Kim Stanley Robinson begins with a climate change induced scorching summer in Uttar Pradesh, India. The book features a digital reserve currency called Carboni, backed by the world’s central banks, designed to incentivize decarbonization. Companies are paid in Carboni when they mitigate emissions or remove carbon from the atmosphere.
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