November 17, 2017

Carbon pricing sidelined at the climate talks

Even those with a passing interest in the ongoing climate talks in Paris cannot fail to notice that carbon pricing, a critical issue in the modern times, is conspicuous by on the list of items on the agenda.

The general expectation was that since the issue of carbon pricing has the weight of world leaders, global corporate captains and environmental lobbyists, it would be prioritised. But it is not.

It is universally believed that setting a price for the cost of carbon emissions produced would encourage investment in green technology as the high cost would prove to be a deterrent.

Prominently, calls of twenty organisations from around the world who wrote to the United Nations climate head, Christina Figueres, to have carbon pricing on the agenda have been dismissed.

Part of the twenty organisations, Business Europe underlined the significance of carbon pricing. In a statement quoted by AFP, it noted:  “The development of a global carbon market will help stimulate investments in innovative technologies, installations and products to be made in locations where they deliver the greatest possible climate benefits at the lowest economic cost.” Business Europe felt it was important to compare pricing.

Edited and adapted for AMB by Jimmy Swira

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