First law firm joins World Bank carbon pricing

The first law firm has joined the World Bank’s carbon pricing partnership. As part of the Carbon Pricing Leadership Coalition (CPLC), Baker & McKenzie will commit to supporting clients in advancing carbon pricing policies and sharing the best ways to be sustainable. A carbon price is a cost applied to carbon pollution to encourage polluters to reduce […]

More companies using internal carbon pricing

Large companies are increasingly taking the cost of carbon pollution into account when making investments. More than 1,200 companies now use internal carbon pricing to offset and avoid environmental damage, according to a survey from the Carbon Disclosure Project (CDP). That’s 23% more than last year. Nearly 40 of these firms, worth a combined total of $1.5 […]

Canada to set ‘strong’ carbon tax

Canada’s Prime Minister Justin Trudeau has said he will impose a “strong” price on carbon. In a Canadian television interview, Mr Trudeau insisted he aims to set a national carbon tax even if provinces try to block the proposal. He added that’s an “essential element” of the Liberal Party’s climate change plan. He went on: […]

Carbon trading ‘to expand due to Paris climate deal’

Carbon markets are expected to expand as a result of the Paris agreement. That’s according to 82% of the 146 carbon traders from the International Emissions Trading Association (IETA) surveyed by PwC, which added the figure is up from 58% from 2015. IETA members were asked questions about “a broad range of organisation types and […]

Governments raised $26bn from carbon pricing in 2015

Governments around the world raised around $26 billion (£17.9bn) from charging for carbon emissions. That’s an increase of 60% compared to the previous year, according to the World Bank. Its ‘Carbon Pricing Watch 2016’ report stated 40 countries and more than 20 cities, states and regions accounting for a quarter of all greenhouse gas emissions […]

France to set carbon price floor

France plans to set a carbon price floor of around €30 (£23.1) a tonne. French Environment Minister Ségolène Royal told reporters the measure will be part of the country’s 2017 Finance Bill which is expected to be approved by Parliament by the end of the year. The current President of COP21 made the announcement yesterday following […]

73 countries in favour of global carbon price – World Bank

Support for a worldwide price on carbon emissions is growing with 73 countries including China, Russia and South Africa now backing such a move, says the World Bank. It claims in a report the 73 nations as well as 22 states and cities make up 54% of global greenhouse gas emissions and 52% of GDP. […]

Carbon price lifted from a six week low – DMR

The carbon price is picking up from a six week low, according to today’s daily market report from npower. Tim Carter, Client Portfolio Manager at the supplier’s Optimisation Desk said: “Carbon prices have recovered slightly at the back end of last week, as buyers stepped in to lift the price from six week lows and restore […]

Corporates prepped for worldwide carbon price

Big biz appears to be well ahead of many governments – and are preparing for the cost of an international carbon price. That’s according to new research among corporations about their climate change plans. It found 29 major public firms in the US including Dow Chemical Company, Goldman Sachs and ExxonMobil are either already or […]

EU 30% energy efficiency target “could weaken carbon price”

Analysts predict the EU’s target to boost energy efficiency could weaken the EU emissions trading system. Yesterday the European Commission set out a framework to cut energy use by 30% by 2030. The Point Carbon team at Thomson Reuters reckons carbon prices could fall as a result. Marcus Ferdinand, Head of EU Carbon Analysis says: […]