Climate discussions like those we’ve just been seeing at the UN summit in Katowice, Poland tend to focus on working together to deliver existing climate commitments and raising ambition—getting countries to reduce more GHG emissions, faster. But there’s an equally important issue that gets far less attention: ensuring climate action is delivered in a way that doesn’t leave anyone behind, particularly the world’s most vulnerable people.
See Helen Mountford and Molly McGregors’ latest blog post on how carbon pricing can benefit the poor and reduce emissions.
The Arab Gulf States – Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE –are highly vulnerable to oil price shocks due to their high economic reliance on oil and gas export revenues. Historically, oil price shocks have been a source of pressure on the Arab Gulf States economies. However, only since mid-2014 have oil prices seemed to pressure on political regimes to consider domestic economic reforms and development of alternative sources of income (i.e. economic diversification).
To avoid long-term negative implications – such as increasing total CO2 emissions and deterioration of air quality associated with increasing downstream petrochemical energy intensive industries, fossil fuel subsidy reforms, enhancing energy efficiency and the use of clean energy technologies are indeed instrumental to tackle such issues. In this article, carbon pricing is proposed as a useful instrument to complement the aforementioned tools.
To address the global development risks posed by climate change, a major technological shift leading to a substantial reduction in the global greenhouse gas (GHG) emissions will be necessary. In parallel, the substantial global economic and development distortions - that lead to inequality - do not enable the technological and financial transfers needed for a sustainable and equitable global economy. This brings us to a fundamental question: when climate change only imposes an additional threat of unseen scale, how can we change the economic status-quo?
Statoil has been operating in a market where an external carbon price has existed since the early 1990s. Due to CO2 tax and other regulatory measures the oil and gas industry in Norway has adopted emission-reduction measures corresponding to more than five million tonnes of CO2 per annum since 1996. Consequently, Norwegian oil and gas production is in the global premier division for low GHG emissions and the average amount emitted per unit produced is about half the world average.
In this CPLC blog, Mandy Rambharos, Head of Climate Change and Sustainable Development for Eskom Holdings, recaps the recent CPLC workshop on carbon pricing and competitiveness in South Africa. Given the introduction of a carbon tax in June, she also provides context for what carbon pricing means for the South Africa economy and business community.
Last week, Stefano Carattini and Steffen Kallbekken wrote “Carbon pricing is finally enjoying some momentum, despite setbacks” for the London School of Economics Business Review. The authors argue that recent articles on the status of carbon pricing and its perceived lack of political feasibility do not line up with the facts. Read their insights.
Ireland published its new Climate Action Plan on June 17th, 2019. Among several climate strategies, what role does carbon pricing play in the plan? Read Dr. Joseph Curtin’s insights in this CPLC blog.
Dr. Robert Stavins provides a brief summary of his new paper “The Future of U.S. Carbon-Pricing Policy”. The full paper can be downloaded here. In his paper and in this blog, Dr. Stavins explores two questions: (1) how do the two major approaches to carbon pricing (carbon taxes and cap and trade) compare on relevant dimensions, including but not limited to efficiency, cost-effectiveness, and distributional equity? (2) Which approach is more likely to be adopted in the future in the United States?
This week, representatives from government, business and civil society are gathering at the Carbon Pricing Leadership Coalition’s High-Level Assembly to discuss how carbon pricing can be used to shift investments towards low-carbon and climate-resilient projects, and how carbon pricing can address broader social concerns.
As carbon pricing gains increasing attention around the world, it’s essential that policies are informed by independent and sound analysis. The Carbon Tax Research Initiative at Columbia University's Center on Global Energy Policy is pleased to join the Carbon Pricing Leadership Coalition to offer its analytical expertise and learn from CPLC members about the opportunities and challenges of carbon pricing. CGEP’s initiative helps policymakers, businesses, and other leaders understand carbon pricing and the impacts on the economy, emissions and energy markets.
In the latest IETA insights Article, Mandy Rambharos takes a look at the impact Article 6 could have on African nations and their development goals—driven by a need to ensure access to energy.
