There Is No Planet B by Mike Berners-Lee

Author:Mike Berners-Lee [Berners-Lee, Mike]
Language: eng
Format: azw3, pdf
Publisher: Cambridge University Press
Published: 2019-02-27T16:00:00+00:00

How can these essential investments be funded?

Every divestment liberates an investment opportunity elsewhere. A carbon tax could also produce a massive fund.

In 2013, global investment in fossil fuels stood at over a trillion dollars whilst investment in renewables were just a couple of hundred billion. This is bonkers and none of us should be colluding in it. A trillion dollars for the investments I’ve listed would go a long way.

Global carbon dioxide emissions run at around 35 billion tonnes of CO2 per year. Imagine, as a thought experiment, a carbon tax of $300 per tonne (equivalent to about a dollar per litre of car fuel) applied to all emissions. The funds raised would be over $10 trillion per year. We could use half to compensate those who unavoidably took a hit from the tax, perhaps redistributing wealth a bit whilst we are at it, and that still leaves plenty for the items in my list. Clearly quite a bit more detail needs working though, but the broad concept has passed the ‘back of an envelope test’ with flying colours. Jobs and pension funds would realign, but with no net loss to either.

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