Financial Markets Our Only Defense Against Global Warming

The chairman of the IPCC warns that the only way to reduce large-scale fossil-fuel use is to 'price' carbon emissions. Rajenda Pachauri, the chairman of the Intergovernmental Panel on Climate Change (IPCC) said his organisation’s latest report provided “unequivocal” evidence that since 1950 the atmosphere and oceans had warmed, and that scientists were now “95% certain” that humans were the “dominant cause”. Dr Pachauri warned that unless a price could be put on carbon emissions that was high enough to force power companies and manufacturers to reduce their fossil-fuel use, there seemed to be little chance of avoiding hugely damaging temperature increases. So, our very survival as a species is dependent upon the financial markets. You mean, those markets that grow bubbles and crash periodically? If that's the case, just shoot us now.

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