10/10/2013

If the goal is to curb carbon emissions, then it makes more economic sense to set up carbon markets than subsidize renewable energy, according to a study from the Organization for Economic Cooperation and Development. "Subsidies wind up in the pockets of the rich," says Anthony Cox, head of the OECD's climate division. "Direct prices, such as emissions trading systems and taxes, are often a more cost-effective way to cut carbon."

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