Mitigation consists of launching actions to reduce and limit greenhouse gas emissions with the aim of preventing the global temperature of the planet from continuing to increase. These actions consist of greater investment in renewable energies, transition to a low-carbon economy, promoting energy efficiency, electrification of industrial processes, and the implementation of efficient transport means (electric public transport, cycling, car sharing, etc.).
On the other hand, actions such as carbon pricing - which can act as a tax on the emission of GHGs, in carbon markets limiting the volume of emissions, or facilitating the exchange of carbon credits - are now also an important aid in fighting climate change. The fixing of a high-enough economic value on greenhouse gas emissions redirects government and corporate investment toward less-polluting production and consumption models.
In the fight against climate change, one of the mechanisms that has proven to be more efficient in the recent years is the fixing of the carbon price. This concept arises from the need to take into account the environmental, social and economic damage that occurs when emitting polluting gases, what economists call "assuming a negative externality". In the following video, we tell you the origin of the concept and how governments and companies apply it. Don’t miss this video about carbon pricing.