The capitalist economy in which we work has increased our standard of living over the last century. We’ve been able to improve through the years because of it. The free market has given us the means to explore the world, create goods beyond our wildest dreams, and build magnificent cities. The supply and demand in our countries are correctly reflected by free markets Smart Energy Connect. Anything from agriculture to medicine can be priced with it. And our most valuable commodities are effectively priced by capitalism.
Our climate has been negatively impacted by the recent change in global temperature. It has caused the melting of the polar ice caps, the extinction of animals, and the intensification of tropical storms. Globally, sea levels have risen 4-8 inches in the last century, and global warming may potentially result in an underwater Manhattan.
Carbon credits are financial instruments that reflect a decrease in carbon emissions into the atmosphere. These carbon credits, in the form of a carbon tax, placed a monetary value on our population-increasing activities. Since there is money/rewards to be gained by lowering carbon emissions, people can earn more on carbon credits. We can also use market forces to minimize carbon emissions at the lowest cost to society by selling these carbon credits.
When carbon dioxide is burned to generate electricity, it produces emissions. Companies would continue to use less pollution if there is a “cap” on such carbon emissions because it would cost them less. Minimizing global warming by carbon emissions would be in their best interests because it would result in a carbon tax for that industry.