Leaders call for global price on carbon during first day of COP21

Ilario D'Amato
Reading time: 2 minutes
30 November 2015

PARIS: Heads of state, sub-national leaders and forward-thinking businesses today made today a strong case for putting a global price on carbon, on the first day of the international climate talks in Paris.

The Carbon Pricing Panel comprises members such as Germany Chancellor Angela Merkel, French President Francois Hollande and California Governor Jerry Brown.

Convened by World Bank Group President Jim Yong Kim and IMF Managing Director Christine Lagarde, the high-level group today called on the world’s governments and climate negotiators to put forward carbon pricing as a key policy tool to steer the world toward a low carbon economy.

“Giving a value to carbon emissions, or more precisely to cutting them, is a straightforward and efficient way of driving investment away from dirty technologies and toward clean ones,” comments Mark Kenber, CEO, The Climate Group. “This explains why hundreds of countries, states and companies already do so in one way or another. It also explains why organizations working with millions of businesses are calling on governments to make carbon pricing a core part of the policy framework for implementing their national climate pledges.”

In the presence of US President Obama and China President Xi Jinping, the global leaders have sent a bold invite their peers to publicly recognize the true price of carbon – accounting for its full economic and health costs.

Earlier today, Jim Yong Kim, President of the World Bank officially launched parallel initiative ‘Carbon Pricing Leadership Coalition’, comprising 80 partners from governments, the private sector and civil society.

“We will help mobilize more business support and engage in constructive dialogues, country by country, about how to put in place successful pricing policies,” said the World Bank president.

“We also recognize carbon pricing is not an easy policy to implement. Experience, though, shows us that it can deliver dividends.”

Today more than 30 government members of The Climate Group's States & Regions Alliance released a paper urging the negotiators who have just arrived at the COP21 climate talks in Paris to agree an ambitious long-term agreement.

In their 'position paper' the governments call for world leaders to ramp up climate finance that supports the innovative policies already taking place at the regional level. Putting a price on carbon is one of the best options to scale up such investments and stimulate clean technology competition, the governments agree.

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