Sky-high carbon tax needed to avoid climate catastrophe, say experts

Economists, including Joseph Stiglitz and Nicholas Stern, say taxes of $100 per metric tonne could be needed by 2030

A group of leading economists warned on Monday that the world risks catastrophic global warming in just 13 years unless countries ramp up taxes on carbon emissions to as much as $100 (77) per metric tonne.

Experts including Nobel laureate Joseph Stiglitz and former World Bank chief economist Nicholas Stern said governments needed to move quickly to tackle polluting industries with a tax on carbon dioxide at $40-$80 per tonne by 2020.