GHGsParis Agreement are currently emitted into the atmosphereAtmosphere largelyIntergovernmental Panel on Climate Change (IPCC) for free, despite their significant costs to society. These emissions create what economists refer to as “negative externalitiesNegative externalities”—unaccounted–-for costs that contribute to global climate changeClimate change. This results in a market failure because GHG emissions remain unpriced, leading to excessive production of goods and services that contribute to climate changeClimate change. Economists suggest that when negative externalitiesNegative externalities exist, too much of the good is produced. Placing a price on carbon emissions or capping emissions could help correct this imbalance and drive down emissions. But here the problem is determining an appropriate price, setting appropriate targets, and obtaining the “public will” to proceed.