What is the money from carbon taxes used for?



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    The High Level Climate Advisory Group on Climate France, which is headed by the Prime Ministers of Norway and Ethiopia, has been brainstorming a radical idea for the funds raised through carbon taxing: a ‘worldwide climate change fund.’ This money would be used to assist developing countries that struggle with the flooding, droughts and other environmental concerns derived from global climate change. This fund would be generated by taxing the biggest pollution culprits in the transportation and industrial sectors. However, the notion has many detractors, whom feel that the goal is unrealistic, since many rich countries would be against it, and not all of the money would be allocated to philanthropic causes. As it is, the goal of the UN is to raise $100 billion by 2020, a goal is that far off from being realized. 

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