COP21 Breaking News_05 December: Carbon Price Needed for Climate Change Success

COP21 Logo Paris UNPutting a price on carbon is essential for success in the international response to climate change, said participants in a COP21 side event.

Without a price, recognizing and charging for the damaging effects of emitting greenhouse gases, efforts to address climate change will be inefficient and likely too slow to avoid its worst effects.

Pricing carbon is “not the only thing, but a necessary thing,” said Rachel Kyte, Special Envoy for Climate Change, World Bank Group.

“We have to take carbon pollution out of our growth model,” she said. That entails “energy policy reform, energy subsidy reform and putting a price on carbon.”

China has seven pilot emissions trading systems, and has announced its intention to launch a national system in 2017.

Qimin Chai, a deputy director in China’s National Center for Climate Change Strategy and International Cooperation, said it is key to “count the benefits and the costs” of action on climate change, explaining how emissions trading systems can spur development and stimulate economies through recycling of investment, if the price is high enough.

carbon pricing side event COP21

Countries and constituencies need to “make pricing integral, and build on it,” explained David Heurtel, the Development, Environment and Climate Change Minister in the province of Québec, Canada.

Québec launched an emissions cap and trade system in 2013 and linked it with the emissions trading system in California, U.S.A., a year later. The Canadian provinces of Ontario and Manitoba have since announced their intentions to cap and trade their emissions. One province, British Columbia, has had a carbon tax for several years, and another province, Alberta, is planning one.

Québec started with a low carbon dioxide price per tonne, which has steadily risen. The gradual transition has worked well, avoiding economic dampening. Business has integrated the cost and the province has reinvested the income, explained Mr. Heurtel.

Bruno Lafont, Co-Chair of the LafargeHolcim cement company, said he was in favour of global carbon pricing, stressing the word global. With some constituencies subject to a price and others not, competition could be uneven.

Businesses need “stability and predictability” and any pricing system needs to avoid “distortion of competition,” Mr. Lafont said.

Source: http://newsroom.unfccc.int/financial-flows/carbon-price-needed-for-climate-change-success/

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Featured Stings

The challenges of Chinese investment in Latin America

European Youth Vlog

The EU Commission fails to draw the right conclusions about corruption

Menu for change: why we have to go towards a Common Food Policy

“As German Chancellor I want to be able to cope with the merger of the real and digital economy”, Angela Merkel from Switzerland; the Sting reports live from World Economic Forum 2015 in Davos

Europe’s far-right launches attacks on neighboring nations

Easier Schengen Visas for non-EU holiday makers: A crucial issue for south Eurozone countries

Lagarde: Keep feeding the banks cut down wages and food subsidies

Chart of the day: This is what violence does to a nation’s GDP

Why the euro may rise with the dollar even at lower interest rates

Switzerland to favour EU citizens in immigration quotas as the risk of a new referendum looms

The global issue of migration in 2017

JADE Spring Meeting Live Coverage: Entrepreneurial skills in the digital markets

EU rewards organisations that make eco-innovation pay

UN envoy ‘encouraged’ by latest talks on avoiding ‘worst-case scenario’ in Syria’s Idlib

Achieving targets on energy helps meet other Global Goals, UN forum told

UNICEF urges all countries to provide ‘Super Dads’ with paid leave

Two women threaten to tear the world apart

The new European Union of banks is ready

The Italian ‘no’ and France’s Fillon to reshape Europe; Paris moves closer to Berlin

How a possible EU budget deficit affects the migration crisis

The EU cuts roaming charges further while the UK weighs Brexit impact

Easing funding woes for UN agency assisting Palestine refugees a ‘wise investment for today and the future’

CHINA UNLIMITED. PEOPLE UNLIMITED. RESTRICTIONS LIMITED

“The Sea is vast as it admits all rivers”, Ambassador Yang Yanyi of the Chinese Mission to EU gives her farewell address in Brussels

Security Council hails ‘historic and significant’ joint peace declaration by Ethiopia and Eritrea

Turkey’s Erdogan provokes the US and the EU by serving jihadists and trading on refugees

European Confederation of Junior Enterprises hosts in Geneva the Junior Enterprise World Conference

UK keeps its Brexit plan secret or there is no strategy at all whatsoever?

EU finally agrees on target for 40% greenhouse emission cuts ahead of Paris climate talks

Will ECB win against low inflation by not following Quantitave Easing?

France-Germany: Divided in Europe, USA united in…Iran

How well you age depends on what you think of old age

Somalia: UN urges steps to ensure future elections not ‘marred’ by rights abuses seen in recent polls

Guinea President Alpha Condé: “We must tackle the root causes of migration”

Entrepreneurship in a newly shaped Europe: what is the survival kit for a young Catalan and British entrepreneur in 2018?

EU Telecoms deal: Fees on calls across the EU capped and 5G network by 2020

Is Data Privacy really safe seen through Commissioner’s PRISM?

EU Migrant Crisis: Italian Coast Guard Headquarters and Italian Navy to give host national opening addresses at Border Security 2016 in Rome

Who cares about the unity of Ukraine?

This is what countries are doing to fight plastic waste

Europe to turn the Hamburg G20 Summit into a battlefield

EU and China seize momentum to enhance trade agreements in response to Trump’s administration

Posting of workers: final vote on equal pay and working conditions

Italy’s Letta: A European Banking Union soon or Eurozone collapses

European Youth Forum on Summit on Jobs and Growth

Innovation and Entrepreneurship Changing the Face of Europe

Social entrepreneurs can change the world – but these 6 things are holding us back

Tsipras bewildered with Berlin’s humiliating demands; ECB expects political sign to refinance the Greek banks

2019 EU Budget: Commission proposes a budget focused on continuity and delivery – for growth, solidarity, security

Germany’s fiscal and financial self-destructive policies

COP21 Breaking News_08 December: Cities & Regions Launch Major Five-Year Vision to Take Action on Climate Change

“CETA is a game changer for major trade agreements”. The Sting reports live from EBS 2015

Azerbaijan chooses Greek corridor for its natural gas flow to EU

Climate negotiations on the road to a strong Paris agreement rulebook

Is the West gradually losing Africa?

The “Colombo Declaration” adopted at the World Conference on Youth 2014

ECB’s unconventional monetary measures give first tangible results

France is bringing back national service

UN Envoy ‘confident’ deal can be reached to avert further violence around key Yemeni port city

More Stings?

Speak your Mind Here

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s