- Published: Tuesday, 01 December 2009 05:00
World Leaders Need to Set Attainable Priorities
As this edition of E&MJ was heading to press, world leaders were starting to gather for a climate summit in Copenhagen. Aside from the sad state of the global economy, what will make this meeting different than previous ones is that it appears that the wheels are coming off the global climate change bandwagon. Carbon taxes are becoming increasingly unpopular with businesses and taxpayers. Governments are now viewing carbon taxes as more of a much-needed revenue stream than a method of improving the environment. Carbon credits might become the next derivative that speculators juice. Guess who pays the price? Last year, when most of the world saw 30% or more of its wealth evaporate, many business and families decided to hit the reset button and review their priorities realistically. World leaders should do the same.