Putting a price on carbon

For most of human history, pumping carbon dioxide into the air has come free of charge. Burning fossil fuels powered the industrial revolution and powers most industries to this day.

But all that carbon stays up in the atmosphere and dealing with the consequences won’t be free. The cost of climate change stretches beyond the lives lost in natural disasters. There will be a huge economic cost - to pay for sea defences, put out forest fires and care for millions of climate refugees.

Around the world, governments and businesses are finding different ways of putting a price on the carbon that industries pump out. They’re trying to change how the global economy operates, by making industry pay for the harm their carbon emissions cause.

Reporter: Tom Colls

(Photo Caption: A cloud and money / Photo Credit: Getty Images)