The CPLC is a voluntary initiative that brings together leaders from government, business, civil society, and academia to enhance global understanding of carbon pricing as a tool for accelerating and financing effective climate action.
Its purpose is to promote carbon pricing as an effective tool to reduce emissions so that 50% of global emissions are covered by carbon pricing by 2030. In 2020, the rate was 22% globally (with a significant increase recently due to the implementation of the Chinese National ETS covering 40% of its emissions). Coalition partners agree to advance the carbon pricing agenda by working with each other towards the long-term objective of a carbon price applied throughout the global economy.
More specifically, this commitment will follow 3 strategic approaches:
- strengthening carbon pricing policies to redirect investment commensurate with the scale of the climate challenge;
- bringing forward and strengthening the implementation of existing carbon pricing policies to better manage investment risks and opportunities;
- enhancing cooperation to share information, expertise and lessons learned on developing and implementing carbon pricing in various jurisdictions.
During the One Planet Summit in December 2017, twelve governments and regions from the American continent collectively committed to developing carbon markets in the Americas (their Paris Declaration www.gob.mx).
In 2018, the “Carbon Pricing in the Americas” platform was created.
Since then, 3 countries, namely Argentina, Chile and Colombia, have implemented carbon pricing and Canada and Mexico are currently implementing carbon markets. Quebec and Chile, co-chairs of th CPA platform, invited governments across the Americas to endorse the Glasgow Declaration on Carbon Pricing in the Americas.
The CPLC brings together numerous partners, including national and local governments (34), companies (172) and strategic partners (100). The coalition includes some powerful multinationals, and has broad geographic diversity.
The CPLC secretariat is administered by the World Bank Group, which also finances the initiative.
The CPLC is governed by the High-Level Assembly co-chaired by a Minister and a CEO (currently Juan Carlos Jobet, Minister of Energy, Minister of Mining, Chile and Rt Hon Lord Barker of Battle PC, Executive Chairman of the En+ Group board) and a 23-member Advisory Group, composed of government, business, and strategic partners. and 3 regional Working Groups (Africa, Asia and Americas), and 4 sector-focused Task Teams, focusing on the maritime sector, the banking sector, the value chains and higher education). In November 2020, the CPLC launched a Task Force on Net Zero Goals and Carbon Pricing to contribute to a deeper, common understanding of what net-zero means and how it can be achieved. A high-level annual meeting with all CPLC partners takes place during the WB/IMF Spring Meetings.
The Coalition also has a “Carbon Pricing in the Americas” plateform bringing together 12 leaders (Canada, Mexico, Colombia, Costa Rica, California, Washington, Quebec, Ontario, Nova Scotia, Alberta,British Colombia Oregon, and Sonora ) to develop carbon markets in the Americas.
The CPLC publishes thematic reports as well as an annual report entitled the Carbon Pricing Leadership Report.
The website: https://www.carbonpricingleadership.org/