Increasing the prices of the carbon market will encourage economic players to adopt less-polluting practices and take the necessary steps to respect the objectives of the Paris Agreement.
+ €15
increase of carbon price in the EU ETS in one year
5
mbitious European countries pledging for a significant carbon price
Announcements
Environment and Climate Ministers of France, Germany, the Netherlands, Sweden and the United Kingdom have:
- Welcomed the recent agreement on the reform of the EU ETS
- Acknowledged that additional reforms will be needed in the EU
- Committed to examine, or even implement in some cases, a significant carbon price in relevant sectors
Accomplishments
- Due to the vote on the reform of the EU ETS, carbon price has risen from 5 €/t to more than 20 €/t in one year.
- High level event hosted by France on the 5th of March 2018, with Climate Ministers, or their representatives, of France, Finland, the United Kingdom, Sweden, Germany and the Netherlands, and a Member of the European Parliament, the European Climate Foundation and Eurelectric.
“A well-designed carbon price is an indispensable part of a strategy for reducing emissions in an efficient way.”
22 %
of total emissions in the Americas are part of the Paris Declaration
Announcements
Paris Declaration on Carbon Pricing of the Americas
- Signed by heads of state of Canada, Mexico, Chile, Colombia, Costa Rica, and top representatives of subnational governments of California, Washington, Quebec, Ontario, Nova Scotia, Alberta and British Columbia
- Commits to promoting carbon pricing both internally and in the context of markets or taxes.
- Promote common measurement, reporting and verification systems in the context of regional collaboration
Accomplishements
- Launch of CPA Cooperation Platform with Canada & Mexico as co-Chairs and support of ECLAC & WBG; inclusive at all levels (national, subnational, private sector, civil society)
- Working Groups established to advance collaboration through sharing of best practices; regional-focused outreach and joint policy research.
- Priority areas of WG determined:
- Common standards, Monitoring Reporting and Verification(MRV)
- competitiveness;
- complementary policies;
- stakeholder engagement;
- CPA partners meetings: Chile in January and Mexico in August
" Carbon pricing is a critical quantum jump for the much-needed transformation to a low-carbon future. The Carbon Pricing of the Americas platform will unleash market forces to drive climate innovation and solutions. This unique initiative should lead the Global Coalition for Carbon Pricing as was called for in 2015 by the Paris Climate COP President Hollande. "