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The Bank’s green future

Alistair Darling is getting it wrong on climate change. Now scientists must shape monetary policy

By David King   January 2010

The science of climate change is clear, despite those leaked UEA emails. The technology to tackle the problem either exists, or is on its way. Now we need to handle the finance. That’s why putting a price on carbon was the most important negotiating point at the Copenhagen summit. It’s also why the next government needs to consider a radical new step: parachuting climate scientists and energy technologists into the Bank of England.

Post-Copenhagen, the world must work towards a global cap-and-trade scheme, in which all carbon dioxide emitted comes with a paid-for permit. If a country doesn’t control its…

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