Putting a price on carbon: evaluating a carbon price and complementary policies for a 1.5° world

To achieve the Paris Agreement goals and limit global temperature rise this century to 1.5°C, the global economy must be rapidly transformed. A carbon price is needed to incorporate climate change costs into economic decision-making to significantly reduce U.S. greenhouse gas emissions, particularly in the electricity sector. However, a carbon price is not a silver bullet for addressing climate change. Complementary policies to a carbon price are needed. These policies and programs must address market barriers and drive deep emissions cuts over the long-term.