The Cost of Carbon…….who pays the price?

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Carbon pollution has adverse effect on the individuals, their health and also the environment. These effects attract a cost that is either borne by the people or the environment. What is the price of carbon pollution commonly referred to as carbon price? It refers to the amount that must be paid to a public authority such as carbon tax, or as emission permit exchange such as emissions for one tonne of carbon doixide into the atmosphere or purchasing emissions allowance. This can also be based on international emissions trading agreement between countries. The purpose this is implemented to ensure the “polluters pay principles” are enforced within a system. This will enable emitters to be responsible for at least a certain percentage of the cost of pollution and ultimately climate change.

Climate change has economic and social costs, which has an implication on those that are affected directly or indirectly, it has a negative impact on the flora and fauna, families, local community, the government and the nation as a whole. The sect that is least affected is the organization or companies that engage in activities that contribute to climate change because there is little or no enforcement through taxes, fines or penalties.

It is our responsibility to enlighten these organizations, the government and the public on the devastating effects of carbon on our health and the environment. This awareness will bring about change in attitude and approach of industries activities that contribute to climate change and also investment in more sustainable and greener technologies. Therefore the major contributors to climate change will bear the cost of their action and be responsible for ensuring we have a more sustainable world to live in.

The Climate reality project has developed a tool for calculating the carbon cost in different continents but unfortunately the tool has not been activated for Nigeria therefore you cannot check the cost of carbon for Nigeria at the moment. This tool highlights the effects of carbon pollution in various aspects of life and then the risk associated with such effects are classified from a range of extreme risk to low risk. The aspects considered with this tool are higher food prices, water scarcity, reduced water quality, property damage, loss of wildlife/wetlands/agriculture soil, ecological damage, higher insurance premium, spread of diseases, river or lake water level decline, heat related illness . This is just one of the various ways of highlighting the cost of carbon. What suggestions do you have on how to combat this  growing concern? We want to hear from you…….

More information on the carbon cost can be found on http://www.thecostofcarbon.org/.

More information on the Climate reality Corps can be found http://climaterealityproject.

                                      

Written by O’ Reese on behalf of En-pact Solutions Limited. 2014.

Twitter: @O Reese2

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