Climate Chance Summit: Carbon pricing – Mobilizing non-state actors on a global issue with local implications
This Brief has been prepared for the High Level Dialogue on Carbon Pricing taking place at the global Climate Chance Summit for Non-state actors organised in Nantes, France from the 26th – 28th September 2016.
Carbon pricing is a valuable economic tool which can help towards achieving the necessary emissions reductions to mitigate climate change. An effective carbon price should send economic and political signals that shift public and private investment to increase the competitiveness of low-carbon solutions (fuels switching, deployment of renewable energy, etc.) and stay below the 2°C trajectory.
In 2016, over 40 countries and 20 provinces and cities have established an explicit price on carbon through carbon taxes or emissions trading systems. The choice of the carbon pricing instrument depends largely on the national or local circumstances and priorities. With this growing evidence base comes an opportunity for State and non-state actors to explore the implementation of carbon pricing as a means to meet both economic and climate objectives.