The research also offered a long-term solution for the energy transition, following the coal-to-gas substitution, built on a market-based approach: the creation of a global carbon tax and emission trading system.
“Climate change is a global problem and addressing it regionally is not effective,” the report said, adding that “eventually, a global carbon price would allow the free market to do the work,” instead of placing the burden of the transition on government and public policies.
