ABSTRACT
Mitigation of man-made climate change hinges on mankind’s reduction of fossil energy consumption and substituting low carbon goods and technologies for high carbon ones. These actions will require and lead to an overhaul in the modes and style of production and consumption. These actions, however, will not happen automatically, i.e., without a price charged on carbon emissions. An emissions tax or other instruments with the same pricing effect may be the most effective way for pricing emissions.
