Green Pulse Ep 58: Overcoming obstacles to pricing carbon right (Pt 2)

17:36 mins

Synopsis: Every first and third Monday of the month, The Straits Times analyses the beat of the changing environment, from biodiversity conservation to climate change.

Climate scientists have sounded the alarm bells. Now, it is time for policy makers to act. One strategy to reduce emissions of planet-warming gases is by putting a price on carbon. By making emitters pay to pollute, the hope is that they take serious action to curb their release of carbon dioxide. But how effective have carbon pricing schemes been, and will they result in higher costs for the rest of society? 

In this episode, environment correspondent Audrey Tan and climate change editor David Fogarty discuss the issue with Dr Vinod Thomas, a visiting professor at the National University of Singapore who was a former World Bank vice-president. 

They discuss the following points: 

1. How effective are existing carbon pricing schemes? (1:24) 
2. How buying climate credits from nature-based solutions can benefit more than just climate (5:50) 
3. What are the obstacles to pricing carbon right? (9:00) 
4. How feasible is it for Singapore to implement schemes, such as the carbon fee and dividend, which channel revenue from carbon pricing back to people? (13:05)

Listen to Pt 1: Taking climate action by putting a price on carbon - https://omny.fm/shows/green-pulse-1/taking-climate-action-by-putting-a-price-on-carbon

Understand more about a carbon price floor: https://blogs.imf.org/2021/06/18/a-proposal-to-scale-up-global-carbon-pricing/

Produced by: Audrey Tan ([email protected]), David Fogarty ([email protected]), Ernest Luis & Hadyu Rahim

Edited by: Hadyu Rahim

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