A recent report from the Intergovernmental Panel on Climate Change on the global steps needed to limit global warming to 1.5 degree Celsius is a clarion call to action. Global emissions must drop by nearly 50 percent in just over a decade to stay on track to meet this target. The secondary target of 2 degrees Celsius will involve substantially greater adverse impacts, and will still require substantial greenhouse gas emissions reductions in the coming decade.

This call to action has renewed debate about appropriate collective and governmental actions to limit greenhouse gas emissions. There are renewed proposals for carbon taxes, fee and dividend plans, and renewable energy investments. Even Exxon Mobil has announced its support for…