The EU ETS has been around for 10 years and, like other emissions trading systems, has been plagued by an excess of allowances keeping prices low and reducing the incentives for business. Yet Europe has decoupled its growth from its carbon emissions - the former up 19% and the latter down 45% over the period of the ETS. Is all of this down to the recession and downturn in production?
In April 2021, the Global Green Growth Institute (GGGI) joined the Carbon Pricing Leadership Coalition through its Carbon Pricing Global Practice. GGGI’s Carbon Pricing Global practice is a leading actor in global piloting of international carbon transactions under Article 6 of the Paris Agreement and brings with it, experience in providing key services in carbon pricing policy design, development of regulatory frameworks and institutional capacity, design and structuring of transactions, and thought leadership.
Today in Glasgow, the Minister of the Environment and the Fight against Climate Change, Minister Responsible for the Fight against Racism and Minister Responsible for the Laval Region, Benoit Charette, and the Chilean Minister of Energy, Juan Carlos Jobet, invited governments across the Americas to endorse the Glasgow Declaration on Carbon Pricing in the Americas, an initiative of the Carbon Pricing in the Americas platform co-chaired by Québec and Chile.
Integrating carbon pricing into investment decision making and ensuring that carbon pricing policies are designed with consideration of social and development concerns were the two key topics of discussion at the Carbon Pricing Leadership Coalition (CPLC) Fourth Annual High-Level Assembly (HLA) that took place during the World Bank and International Monetary Fund Spring Meetings.
The Leaders’ Voices on Carbon Pricing to Drive Climate Action, a CPLC side event during COP23 in Bonn, provided a platform for partners and stakeholders to focus on this discussion.
The Carbon Pricing Leadership Coalition brings together leaders from government, private sector, academia, and civil society to expand the use of carbon pricing policies.
