Economists have come together to discuss the necessary steps for reaching the goals promised under the Paris Agreement of 2015. As Reuters reports, at the moment, coal can be purchased in Europe for less than $6 a tonne (about 2200 pounds), but experts warn that the price for a tonne of coal must reach levels as high as $50-$100 a tonne if countries are to . This spike is only possible if countries can band together to price carbon emissions through taxes or emissions trading systems. If the price of coal remains low, the energy industry will not be incentivized to explore alternative, greener methods of producing electricity such as wind and solar.

If Europe holds its current path, coal will cost approximately $18 a tonne by 2021, over $20 behind the pace needed to reach $50-$100 by 2030. Companies like Shell and BP have worked with businesses and governments around the world to set up a worldwide carbon pricing system that will allow the price of coal to climb. The hope is that this momentum will carry into the next decade, increasing the price of coal and encouraging the development of solar and wind systems.

Image: Smog over Los Angeles, California | Image Credit: Steven Buss via Flickr