Climate change is the result of a market failure to account for the cost of greenhouse gas emissions to society, and pricing carbon is a powerful solution to correct this externality. Studies have shown that a well‐designed carbon pricing program can motivate changes in energy use, reduce greenhouse gas emissions, and guard against harm to the economy or low‐income families. Since 1990, carbon pricing has been implemented in over 40 national and 25 subnational jurisdictions around the world. Getting a carbon price in the United States will require building political will by mobilizing the public through grassroots activism.
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