Oct 26, 2015. In a joint post the heads of the IMF and the World Bank have called for some form of global carbon pricing: "The transition to a cleaner future will require both government action and the right incentives for the private sector. At the center should be a strong public policy that puts a price on carbon pollution."
The IMF leans more towards the use of carbon taxes and the Bank leans toward the use of cap-and-trade at the national level. But both seem to call for something like single global price that would guide these policies. However, it is perfectly [Read more...]
Oct 23, 2015. Ahead of the November 2015 Climate Change Conference in Paris, a global Carbon Pricing Panel has been convened by World Bank President Jim Yong Kim and the International Monetary Fund’s Managing Director, Christine Lagarde to push for pricing of carbon emissions. (Full story) [Read more...]
Jul 23, 2015. French lawmakers passed legislation to increase the target price of carbon to 56 euros ($61.48) a ton in 2020 and 100 euros a ton in 2030, The rate, now 14.50 euros a ton, climbs to 22 euros a ton in 2016 and is integrated in a levy on fossil fuels.
Jun 14, 2015. "All countries are relatively sceptical on international market mechanisms," said Niklas Hoehne, founding partner of research group NewClimate Institute. "They are open to have national trading mechanisms or national pricing, but to have these mechanisms internationally, there is a lot of reluctance." Reuters
In other words, they would accept a commitment to a global carbon price, as advocated on this website, because it does not ask countries to trade billions of dollars worth of permits with other countries. They price their own carbon and keep their revenues. But they won't have random market fluctuations determining when and who they [Read more...]
Jun 5, 2015. Reuters Carbon pricing will not be on the agenda in Paris (Dec. 2015) because the cap-&-traders have convinced the world that the only path to a global price is international cap and trade. And that would mean there would be huge random payments between countries as they fall short and exceed their targets over a period of 15 years (if Kyoto is any guide).
No, the US does not want to end up sending billions to China because they negotiated a lenient cap. And no China would not want to send billions to India if they had a hard time [Read more...]
Jan 27, 2015. EurActiv reports that at the World Economic Forum in Davos, François Hollande, Ban Ki-moon and World Bank Jim Yong Kim all stressed the importance of pricing carbon. But Emilie Alberola, head of carbon-market research for CDC Climat, said,
"A real consensus emerged over the price of carbon at the UN summit in New-York in September, but there were no calls to establish carbon markets."
However EurActiv did not mention the obvious; most of those now calling for a carbon price mean either carbon caps or fossil taxes would be fine. These include the World Bank, the IMF, Stiglitz, Nordhaus, Statoil (see their graphic below) and the US Carbon Pricing Initiative. [Read more...]