Dr. Michael Jacob is a lead author for the study to find out the possibility of providing finance for all drinking water as soon as 2030. If just India had a carbon tax, there could be up to 115 billion US dollars a year raised and just a small amount would be needed to clean the water, and the rest could go to electricity and sanitation. If studied further, only about 4% of the raised amount would be needed for the water.
On the downside, there are many countries in Sub-Saharan Africa where the low carbon emission will not be of any benefit. This is because they have such a low level of carbon emissions there would not be a financial gain. The main hope they have is that if they start using other methods, they will start to receive funding from other countries with large industries.
READ ALSO: First Time Ever Coal-Fired Plants Provide Less Electricity Than From Photovoltaic Panels
A variety of services were examined and alongside sanitation, electricity and water was roads and ICT. The details have just been published in the World development journal. There is an assumption made, and that is that each country will introduce the tax and have the amount increasing regularly. It needs to be $40US per tonne by 2020 and rapid growth over the following 20 years until it reaches $175 by 2030.
Additional money raised would be used to try reducing the level of global warming down to 2 degrees. Rising oil and gas prices will cause issues, but it is clear that just throwing money at fuel will not be the answer.
