Who supports a Climate Income?

Jonathon Porritt

“We face two interlocking crises today: accelerating climate change and worsening social injustice. The only measure that addresses both simultaneously is a Carbon Tax Dividend: a fee levied on all fossil fuels, with most or all of the proceeds distributed as a dividend to all citizens on a strict per capita basis. In my view, this is a precondition of achieving any kind of just transition.”

Putting a price on pollution makes economic sense, including to climate sceptics, and people like the idea of a regular ‘carbon dividend’ going into their bank account.

Professor Cameron Hepburn, Professor of Environmental Economics at the University of Oxford.

Stephen Fry talks about carbon fee and dividends in this ZeroC-commissioned film

Placing a price on carbon creates the incentive for emissions to be reduced in a cost effective and technology-neutral way, while mobilising the private sector to invest in emissions reduction technologies and measures.

While we recognise the merits of a Carbon Fee and Dividend policy, we do not propose to adopt it at this time.

UK Government (2020 report, page 39)