Speculate on carbon emissions and save the world

So says Rajenda Pachauri, the chairman of the Intergovernmental Panel on Climate Change (IPCC.

An extremely effective instrument would be to put a price on carbon. It is only through the market that you can get a large enough and rapid enough response

Dr Pachauri noted that the world had already burned more than half of the one trillion tonnes of carbon permitted if it is to have a reasonable chance of limiting the temperature rise to 2C. Furthermore, rapid industrialisation in the developing world is increasing global emissions so fast that the world is on course to use up its entire carbon budget within 25 years.

Ok so there it is, trade carbon emisissions and have a warm glow win or lose

Or maybe not.