Some countries like Germany are setting their own Climate Change agenda, high electricity prices, high tax on petrol, subsidy's for solar energy, and a good public transport network. Now they have to tackle the coal burning power station companies.
Just suppose for example. Jamaica reduced it's CO2 emissions. Insulating their houses, more public transport., then subsidised the installation of solar panels and painted all roof tops white. There is enough sun in Jamaica to dramatically reduce other forms of electricity generation. This costs money. So how to fund it?
This is where the WTO (World Trade Organisation) IMF (International Monetary Fund) and rating agencies like Mood's, Standard & Poors come in. Each country is rated for it's current CO2 emissions and then on a sliding scale, the IMF offers low cost loans for each CO2 reduction step. The rating agencies increase the county's credit rating, and the WTO sets low global tariffs for all exports.
Every country can do their own thing, in their own way, in their own time. But after a date to be set, these organisations start to change the ratings and rates charged. So would something like this work? Politicians are in the end just politicians, most are not leaders and certainly not risk takers. The world will only agree at some point in the future when it is already to late.
So what do you think? would it work?
Managing Climate Change, is a little bit like having life or home insurance, you hope you never need it, but if you do, then you are thankful you paid the premiums.
Additional Thought
Using current satellite technology, it would be very easy to view areas of the world that are using "slash and burn" to clear the Rainforest. Could this not be another way to make countries pay higher rates of interest on borrowed money?
See the video
