Hello Everyone
The world has never had a global price on carbon. Instead, more than 60 trading emissions schemes and taxes have been made by national governments pricing a ton of CO₂, anywhere from less than $1(Poland) to more than $120 (Sweden). If we had an effective worldwide tax on carbon, it would discouraging polluting and make low carbon alternatives more cost effective. This would quicken the transition to renewable energies and create more certainty for businesses. Do you think that there will ever be enough cooperation to make this work worldwide?
The world has never had a global price on carbon. Instead, more than 60 trading emissions schemes and taxes have been made by national governments pricing a ton of CO₂, anywhere from less than $1(Poland) to more than $120 (Sweden). If we had an effective worldwide tax on carbon, it would discouraging polluting and make low carbon alternatives more cost effective. This would quicken the transition to renewable energies and create more certainty for businesses. Do you think that there will ever be enough cooperation to make this work worldwide?
Carbon pricing is ............ to end the #ClimateCrisis.
— Earth Agora (@EarthAgora) May 11, 2021
The shipping industry recently called for a global tax on its carbon emissions in order to make low carbon shipping options financially viable:
https://www.bbc.com/news/business-56835352
Hopefully, they get what they asked for and that the same happens for other industries.
https://www.bbc.com/news/business-56835352
Hopefully, they get what they asked for and that the same happens for other industries.
A story in the Financial Times about big investors getting into carbon trading and driving up the price:
https://www.ft.com/content/a5ff89ec-323c-4fb8-85a1-9d0225ae3cdb
https://www.ft.com/content/a5ff89ec-323c-4fb8-85a1-9d0225ae3cdb
The author of a recent study in Nature Communications has suggested that, "climate policies and poverty eradication can work hand in hand if a pricing of greenhouse gas emissions is combined with a redistribution of the revenues in the form of a ‘climate dividend’.” Read the whole story here.
This story published today by Reuters says that:
But sadly:
There were 64 global carbon pricing instruments in operation in 2021, compared with 58 in 2020, covering more than 21% of global greenhouse gas emissions, up from 15.1% last year, the report said.
But sadly:
The World Bank said, however, that carbon prices in most regions of the world remained well below levels needed to drive changes to meet the 2015 Paris climate agreement.
"A majority of carbon prices still remain far below the $40–$80/tCO2e (tonnes carbon dioxide equivalent) range needed in 2020 to meet the 2 Celsius temperature goal," the report said. "Higher prices will be needed ... to reach the 1.5C target."
Adam Thyer, Founder at GreenExecutive
The World Bank recently published a report, 'State and Trends of Carbon Pricing 2021':
https://pmiclimate.org/publication/state-and-trends-carbon-pricing-2021
Here is a press release summarising some of the key findings:
https://www.worldbank.org/en/news/press-release/2021/05/25/carbon-prices-now-apply-to-over-a-fifth-of-global-greenhouse-gases
https://pmiclimate.org/publication/state-and-trends-carbon-pricing-2021
Here is a press release summarising some of the key findings:
https://www.worldbank.org/en/news/press-release/2021/05/25/carbon-prices-now-apply-to-over-a-fifth-of-global-greenhouse-gases
China has just launched the world's largest carbon market:
https://www.nature.com/articles/d41586-021-01989-7
https://www.nature.com/articles/d41586-021-01989-7
Carbon pricing has been approved this week in Israel:
https://www.haaretz.com/israel-news/.premium-in-first-israel-approves-carbon-pricing-on-greenhouse-gas-emissions-1.10076342
https://www.haaretz.com/israel-news/.premium-in-first-israel-approves-carbon-pricing-on-greenhouse-gas-emissions-1.10076342
Adam Thyer, Founder at GreenExecutive
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