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      "text": "The idea of one globally agreed carbon price and mechanism might make economic sense, but it is unlikely to be achieved in an era where the world is so divided geopolitically, economically and culturally.",
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      "text": "After deciding on a pricing structure, you must set some design issues: What should the initial tax rate be and how will it rise over time? How close to the source of the emissions do you assign the statutory burden of the tax? What will the CO2 cap be? How will allowances be distributed? What happens to existing regulations? And, perhaps most importantly, from a political perspective, how are the revenues allocated?",
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      "text": "Know what type of pricing is best for your economy and society",
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      "text": "The big question in terms of carbon pricing —whether it's in the form of a direct tax or a cap-and-trade system — is what to do with the money you raise? That's really important from a social impact perspective because putting a price on carbon will likely impact all parts of society — but some more than others.",
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