July 19, 2017

World Bank has thrown a very timely and important spanner into the works on how to combat climate change

Sir, Henry Sanderson reports on a report of World Bank that states: “Technologies needed to meet the Paris climate agreement from wind, solar and electricity systems are “more material-intensive” than current fossil-fuel supply systems, a report by the bank says.

The mining or extraction of metals and rare earth elements could create environmental problems in terms of energy, water and land use” “World Bank flags up renewables resource risks” July 18.

This makes of Trump’s refusal to play along with the Paris Agreement, a truly minor event. That the reports comes up only now, further evidences how green-business’ interests is skewing the whole debate. I have for years held that if our fight for saving the environment is planned or commandeered by profiteers, we are toast.

If the world adopts a revenue neutral carbon tax the resulting price signals will not only reduce the demand for carbon containing energies but will also allow for a more efficient allocation of resources.