Leaders Aim to Put a Price on Half of All Global Carbon Emissions

State and Trends 2015 map

Ten leaders, including Chancellor of the Federal Republic of Germany Angela Merkel, Mexican President Enrique Peña Nieto, and World Bank Group President Jim Yong Kim, have laid out goals in a joint vision statement to expand carbon pricing to cover 25 percent of global emissions by 2020, and achieve 50 percent coverage within the next decade.

Currently, some 40 governments and 23 cities, states and regions put a price on carbon pollution, accounting for 12 percent of annual global greenhouse gas emissions. This marks a three-fold increase over the past decade.

Continue reading

eConsultant2: Sectoral Studies and Design Options for Carbon Pricing Instruments

Deadline: 28-Apr-2016 at 11:59:59 PM (Eastern Time – Washington D.C.)

The purpose of the consultancy to be contracted is to propose packages of carbon pricing Financial Educationinstruments and possible adjustments to existing sectoral policy instruments to maximize the economic efficiency of implementing the post-2020 PNMC objectives. The macroeconomic impacts of the proposed instrument packages will be assessed in MRP Component.

Continue reading

Can Dutch firms profit from carbon pricing?

Article originally posted on the World Bank website.

New Principles to Help Accelerate the Growing Global Momentum for Carbon Pricing

STORY HIGHLIGHTS
  • New report shows the number of implemented or planned carbon pricing schemes around the world has almost doubled since 2012, with existing schemes now worth about $50 billion.
  • About 40 nations and 23 cities, states or regions are using a carbon price. This represents the equivalent of about 7 billion tons of carbon dioxide, or 12 percent of annual global greenhouse gas emissions.
  • And new report lays out six key principles to put a price on carbon – the FASTER principles – for putting a price on carbon based on economic principles and experience of what is already working around the world

The spotlight is on New York now with the upcoming United Nations meeting on the new Sustainable Development Goals, Climate Week New York, and in about two months, global leaders will meet again in Paris for COP 21.

The decisions made in New York and Paris will set the course for development for years to come. But while these are top level, pivotal meetings, actors around the world are not waiting for a global agreement to act. They are already putting a price on carbon dioxide and other greenhouse gas emissions to drive clean investment. This includes the private sector. And we’ve seen companies from the oil and gas industry – calling for widespread carbon pricing. Today, over 400 businesses worldwide are using an internal price on carbon to guide their investments.

Continue reading

Carbon Pricing Is Expanding: Initiatives Now Valued at Nearly $50 Billion

World Bank News item published May 26th, 2015.
STORY HIGHLIGHTS
  • The new Carbon Pricing Watch compiles the latest data on formal carbon pricing initiatives around the world. Several carbon taxes and one of the world’s largest emissions trading systems started in the past year and a half, and more are planned in the coming years.
  • The new and existing systems are also evolving. California and Quebec linked their markets. China has been learning from its seven local carbon markets as it plans for a national emissions trading system.

Read full story here