A dual-track transition to global carbon pricing: the glass is half full

Abstract

We appreciate the response by Erik Haites (2020) to our paper (van den Bergh et al., 2020a), not only because it is well-informed and contains many subtle remarks, but also because our article was aimed at stimulating debate on how to achieve effective climate policies that limit global warming change to 1.5-2°C. There is no question that the latter represents a tremendous challenge for the global community, and our dual-track proposal is intended to provide a workable approach to it by addressing the free-riding problem through policy harmonization. Although we feel that Haites raises many relevant points regarding the difficulties of carrying out the proposal, most of these were, in fact, already addressed by our paper (...)