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S5 Ep48: Climate and debt

VoxTalks Economics

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The Mechanism of Carbon Market

There are some low income countries. They make what seems a reasonable demand that rich countries will help pay for their mitigation, their adaptation. What would the mechanism be if we were to do that? How do we enforce that mechanism? So the mechanism is what Beatrice was mentioning. If you had a compulsory carbon market this carbon market would reach a very large size. Countries and firms in the north that want to offset their carbon mission could do it by directing by buying this offset from these countries in Africa which have this big carbon sink. This would number one lead to the preservation of the carbon sink and at the same time generate large flows from rich to poorer countrieswhich is exactly what we want.

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