The State and Trends of Carbon Pricing series reflects on the growing momentum for carbon pricing worldwide. It targets the wide audience of public and private stakeholders engaged in carbon pricing design and implementation.
EU carbon prices are set to double by 2021 and could quadruple to €55 a tonne by 2030 if the European Commission ultimately legislates to align the bloc’s current emissions targets with the Paris climate agreement, finds a new report by Carbon Tracker.
There is an inescapable nexus between trade and climate change. Trade activities affect the climate. Climate measures affect trade. Economically, environmentally, and legally under international law, the two are intertwined.
Asia and the Pacific is home to more than 60% of the world’s population and 62% of the global economic output. But the region still faces enormous development challenges and with economic growth, it has become a major source of greenhouse gas (GHG) emissions.
Policymakers around the world recognize the potential for natural land area to combat climate change: a total of 97 countries mentioned specific plans to reduce emissions from deforestation or increase forest cover in their Paris Agreement commitments.
This study assesses the environmental integrity risks of international carbon markets under Article 6 of the Paris Agreement and discusses possible international rules to address them. A considerable risk is that several countries have mitigation targets that correspond to higher levels of emissions than business-as-usual (BAU) projections.