New initiative to step up use of carbon pricing

Leaders across the US and Canada have pledged to step up the use of carbon pricing as a key tool to reduce emissions. The new Carbon Pricing in the Americas co-operative framework will apply a cost of carbon to guide public investment decisions and encourage private companies to do the same through internal carbon pricing. […]

‘Carbon pricing better option than clean subsidies’

The EU should focus on carbon pricing instead of renewable subsidies to decarbonise the power sector. That’s the conclusion reached in a new study from the Grantham Research Institute on Climate Change and the ESRC Centre for Climate Change Economics and Policy at the London School of Economics and Political Science. It points out renewable […]

EU Member States endorse emissions trading reforms

EU Member States yesterday endorsed the provisional deal on reforming the EU emissions trading system (ETS) after 2020. The reforms agreed by the Council of Ambassadors earlier this month aims to help the EU to deliver on its target of cutting greenhouse gas emissions by at least 40% before 2030. It hopes to achieve this […]

Carbon pricing initiatives ‘nearly doubled in five years’

The number of carbon pricing initiatives implemented or scheduled has almost doubled in the past five years. Eight new carbon pricing schemes have been put in place since 2016 – three at a national level and five at a sub-national level, according to the World Bank. A carbon price is the amount that must be […]

Carbon trading co-operation could cut climate costs

Global co-operation on carbon trading could reduce the costs of climate change mitigation by 32% by 2030. That’s according to a new report by the World Bank which adds the figure could rise to more than 50% by 2050. It shows increased international carbon trading could enable large-scale emission reductions at much lower costs based on […]

Carbon emissions ‘not priced at true cost to climate’

Around 90% of the world’s carbon emissions are not priced at a level that truly reflects the cost of climate change. That’s according to the Organisation for Economic Co-operation and Development (OECD) which analysed carbon emissions in 41 OECD and G20 countries, which together account for 80% of all emissions from energy use and CO2. Carbon […]

World Bank discusses carbon pricing with 30 countries

The World Bank has brought together more than 30 developed and developing nations to discuss carbon pricing. Its conference in Zurich this week will address the opportunities and challenges in using carbon pricing to reduce greenhouse gas emissions and build carbon markets. The carbon price is a charge on businesses for producing emissions. The event […]

Big firms ‘increasingly focused’ on cutting emissions

A majority of big businesses are “increasingly focused” on reducing carbon emissions. A global survey of more than 100 executives revealed three quarters of them already benchmark against industry average emissions, with a further 75% investing in low carbon technologies. Around 60% also said they are making a renewable energy commitment, with the strategy most […]

Governments ‘to raise $22bn from carbon pricing’

Global governments will raise around $22 billion (£14.8bn) this year by putting a price on carbon. That’s a “significant” increase from $15 billion (£9.6bn) in 2014, according to a report from the Climate Markets and Investment Association (CMIA). Around three quarters of the revenue raised will be in Europe which has an emissions trading system (ETS) […]

Shell boss says governments should fix a price on carbon

Governments should take the opportunity to put a price on carbon said the boss of one of the world’s biggest energy companies. Shell’s CEO Ben van Beurden believes that by taking the costs of tackling climate change and air pollution into account, carbon pricing systems will drive the “right behaviour of consumers and producers”. Renewables […]