Elsevier, Energy Policy, Volume 168, September 2022
Carbon prices and carbon caps need to be set at levels that will deliver the reduction targets necessary to keep global warming under 2 °C, aspiring to 1.5 °C above pre-industrial levels, in line with the Paris Agreement. Given both the urgency of the situation and the heterogeneity across countries and sectors, switching caps and switching prices may be the answer.
