" We know the transition to a low-carbon economy will require trillions of dollars in new investments. Public funds simply can't do it; the private sector will be essential. Pricing carbon pollution will help stimulate innovation and cut emissions, and also give governments the funds they need to help drive investments for a low carbon future. "
Breakthrough Consensus
Today, some 40 governments and 23 cities, states and regions are putting a price on carbon, covering about 12 percent of annual global greenhouse gas emissions. In addition, more than 450 companies around the world report using a voluntary, internal price on carbon in their business plans.
Countries are demonstrating the growing momentum. France recently introducing a new carbon tax. China has seven regional carbon market pilots in place and has announced a national emissions trading system to begin in 2017. At a sub-national level, Quebec has linked its emissions trading systems to California’s.
Nearly half of the national plans submitted in Paris reference carbon pricing, and the agreement included language in Article 6 for turning these plans into investment blueprints for low carbon development.
In Paris, heads of state including German Chancellor Angela Merkel, French President François Hollande, Mexican President Enrique Peña Nieto, Canadian Prime Minister Justin Trudeau, Ethiopian Prime Minister Hailemariam Dessalegn, and Chilean President Michelle Bachelet stood on stage together to call accelerated action on carbon pricing.
At its assembly, CPLC partners are taking on the role of monitoring global progress in designing and using carbon pricing systems. They will also pledge to provide support to countries that want to use carbon pricing as a way to implement the pledges they made in Paris.
That includes sharing lessons learned and emerging best practices, such as those provided by Sweden, British Columbia, Braskem and other carbon-pricing pioneers.
