Policies for Combating Global Warming - Essay Example

The household and the industrial income would not be reduced by the execution of this policy, only that the income will be redistributed from the industries and households that cause high carbon emissions. Further, the lump sum generated will be such high, such that just half of the amount could be applied towards eliminating major challenges in third-world countries, such as offering clean drinking water, providing education, sanitation, and health services (Fog, 8).

Therefore, the prospects of this policy are to achieve double benefits through mitigating the impact of global warming, while at the same time ensuring that the third world countries benefit from the eradication of major challenges facing them. The policy proposes that instead of hindering social spending, the prospects of the policy facilitate social spending through abating the social challenges faced by third-world countries (Fog, 10). The double benefits obtainable from the execution of this policy make it the best for combating global warming.