Climate costs demystified - not before time

摘要

Climate change is "the great moral dilemma of our times", according to Australian Prime Minister Kevin Rudd. However, it's also the most misunderstood. Leaving aside the science of climate change, confusion remains about how options for halting or at least slowing the process actually work. So what are cap and trade, carbon tax, and direction action schemes and how do they differ from each other?