ET Evoke: China has emerged as the greatest environmentalist of our times, says Economics Professor Michael Greenstone

Greenstone, Milton Friedman Distinguished Service Professor in Economics at the University of Chicago, says air pollution is shortening lives and causing economic losses, while fossil fuels remain cheap because their climate and health costs are largely ignored. He proposes rich countries compensate poorer nations for climate damage in exchange for carbon pricing. He credits China’s public pressure for cleaner air and low-carbon progress, while saying India needs stronger political demand for clean air.