A simple idea to whip climate change

Many people working on this subject believe the world needs a carbon tax on dirty fuels - coal and oil - to solve the problem. However, the problem with a carbon tax is that it has so far been impossible to impose without governments falling. The Australian government tried to bring one in and they were kicked out - the new government cancelled it. In November 2018, the state of Washington voted against a carbon tax for the second time in two years.

Carbon taxes are of course well-intentioned. But others are sceptical that they will raise enough resources to tackle the problem, or if the money will actually even be spent on the issue. So aside from being unpopular with the companies, carbon taxes are also often unpopular with the public and unpopular with governments. There are really no winners - except ultimately the globe and the environment.

So I would like to propose the following: a Clean Energy Dividend.

Every company in the world should accept a Clean Energy Dividend to be imposed on the fossil fuel they use and the carbon emissions they cause. The dividend could be the equivalent percentage that a carbon tax would have been, and based on cutting pollution at the rate the climate science shows is necessary. However, unlike a carbon tax, that money wouldn’t disappear into government coffers, but would be used specifically to be invested in generating clean energy through wind farms and solar panels, as well as the development of more low carbon fuels and other breakthrough technologies. The companies, through those investments, can get that money back, plus dividends (it would be wise to have some independent governance to make absolutely certain that all companies comply with this remit.)