The latest call for action is being made by members of the Carbon Pricing Panel, including the Prime Minister of Canada, Justin Trudeau, President of Chile Michelle Bachelet, Prime Minister of the Federal Republic of Ethiopia Hailemariam Dessalegn, President of France François Hollande, German Chancellor Angela Merkel, and Mexican President Enrique Peña Nieto, together with Bank Group President Kim, IMF Managing Director Lagarde, California Governor Edmund G. Brown Jr., Rio de Janeiro Mayor Eduardo Paes and OECD Secretary-General Angel Gurría.
A Vision Statement accompanying their announcement charts out three steps that need to be taken to widen, deepen and promote global cooperation on carbon pricing. First, the number of countries and businesses that participate in a carbon pricing system needs to increase. Second, prices need to be significant enough to account for pollution as an operating cost, and incentives for investments in low carbon solutions need to be established. And third, better links between the various regional and national pricing systems already in place need to be set up.
Speaking at the high level CPLC meeting, the IMF’s Lagarde emphasized the value of cutting emissions.
The U.N. climate conference was the first time that nearly every nation on Earth agreed to cut emissions. Will this agreement likely have any impact on GMIC and its future goals?
Upcoming meeting of 200 leaders to address carbon emissions pack
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