France’s recent industrial history may have a lesson for governments balancing climate change andeconomic demands: carbon taxes can cut greenhouse emissions, and aren’t that bad for jobs either.Analyzing 15 years of data from 8,000 French manufacturers, economists at the OECD found that whenenergy costs rise 10%, emissions decline 9%. Crucially for governments worried about the political costs ofclimate policies, even if carbon taxes cause job losses at individual firms, there is no net loss ofemployment in the sector.
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