Renewable

March 18 (Renewables Now) - Sir Richard Branson, founder of the Virgin Group, believes a Clean Energy Dividend will be much more successful in tackling climate change than the widely unpopular carbon taxes.

“Every company in the world should accept a Clean Energy Dividend to be imposed on the fossil fuel they use and the carbon emissions they cause. The dividend could be the equivalent percentage that a carbon tax would have been, and based on cutting pollution at the rate the climate science shows is necessary,” Branson said in a blog post on Saturday. He explained that the difference between the two instruments is that the dividend would not “disappear into government coffers” but go to support clean energy projects like wind and solar parks, the development of more low carbon fuels and other breakthrough technologies. This will not only reduce emissions, but also lead to jobs creation and lower energy costs.

According to Branson, many doubt whether the carbon tax would raise enough resources to play a significant role in the fight against climate change, and whether the money would actually be directed towards that fight.