Thejaswini...Knowledge Contributor
Is it justified to implement a carbon tax to combat climate change?
Is it justified to implement a carbon tax to combat climate change?
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Implementing a carbon tax is a justified approach to combating climate change. By placing a financial cost on carbon emissions, it incentivizes businesses and individuals to reduce their carbon footprint and invest in cleaner technologies. A carbon tax can help internalize the environmental costs of fossil fuels, driving systemic changes towards more sustainable practices. Although there are concerns about its impact on economic growth and energy prices, the benefits of reducing greenhouse gas emissions and addressing climate change outweigh these challenges.