We are moving into an increasingly carbon-constrained world. Preventing climate change’s worst impacts will require global action—both in the form of an international climate agreement and through national, regional, and state policies to curb greenhouse gas emissions. Carbon markets and carbon prices are becoming important parts of these policies. As we’re already seeing in places like the EU, Australia, and California, there are ways to mitigate competitive risks posed by carbon pricing. It will undeniably take commitment and creative thinking—but the world can’t afford to let abstract fears of economic implications hinder global climate change action.