Global pollution price could cut greenhouse gases by 12%, says report

World Economic Forum says taxing carbon emitters would cost less than economic fallout from climate crisis

Creating an international price for carbon emissions could reduce global greenhouse gases by 12% at a cost of less than 1% of global GDP, according to a new report from the World Economic Forum (WEF) and PwC.

The report found that if global governments agreed together to set a price for pollution to help cut carbon emissions the cost would be less than the economic losses triggered by the fallout of a runaway climate crisis.