Partner voices: blogs, opinions, and analysis
The Arab Gulf States – Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE –are highly vulnerable to oil price shocks due to their high economic reliance on oil and gas export revenues. Historically, oil price shocks have been a source of pressure on the Arab Gulf States economies. However, only since mid-2014 have oil prices seemed to pressure on political regimes to consider domestic economic reforms and development of alternative sources of income (i.e. economic diversification).
To avoid long-term negative implications – such as increasing total CO2 emissions and deterioration of air quality associated with increasing downstream petrochemical energy intensive industries, fossil fuel subsidy reforms, enhancing energy efficiency and the use of clean energy technologies are indeed instrumental to tackle such issues. In this article, carbon pricing is proposed as a useful instrument to complement the aforementioned tools.
Earlier this Fall, the Intergovernmental Panel on Climate Change (IPCC) put the world on notice (again): Unless we make significant changes in how we get our energy and use our land, we will be committing to a future with tremendous human suffering from extreme weather, drought, and ecological damage. While the report is driving important conversations about solutions to this challenge, the average reader might feel discouraged about the changes required. Luckily, the truth is more hopeful than some recent press lets on.
See the latest from Assistant Professor of Environmental Science and Policy at Smith College, Alex Barron.
Welcome to Sweden. We can serve you a beer or a glass of milk with a very low carbon footprint, thanks to our carbon tax. This tax dates back to 1991. It was one of the earliest carbon taxes, and it is today the highest imposed by any government.
New CPLC Partner Svebio takes a deeper look at the Swedish carbon tax’s positive impact on the food industry.
Putting a price on carbon pollution is recognized as an effective, transparent and efficient policy approach to reducing GHG emissions. Indeed, pricing carbon emissions is much more beneficial than paying its developmental, economic, and health costs! The good news is: more and more countries are taking advantage of this economic instrument and the number of carbon pricing initiatives (such as Carbon Tax or Emission Trading Scheme - ETS) has tripled in the last decade
Read Chandni Dinakaran’s blog post on how the World Bank Group is mapping carbon pricing initiatives around the world.
The Intergovenmental Panel on Climate Change this month published its special report on what action is required to keep global temperature increases to less than 1.5 degrees Celsius above pre-industrial levels. But real demand for change is growing at ground level. Consumers around the world are paying greater attention to the environment and the climate, and making changes to their own lifestyles. Alexis Leroy, the CEO and Founder of Allcot Group, makes the case for bottom-up action.
Carbon pricing in the news
KATOWICE, Poland COP24 – The International Emissions Trading Association and the Climate Markets and Investment Association are delighted to present the Carbon Pricing Champion Award, sponsored by ALLCOT Group and CRX, to the Secretariat of the Carbon Pricing Leadership Coalition.
UN Climate Change News, 14 December 2018 – Countries are increasingly using or considering to use carbon pricing instruments as a means to achieve their commitments under the Paris Agreement, and examples were presented this week at the UN Climate Change Conference (COP24) in Katowice, Poland.
As of April 2018, carbon pricing initiatives implemented or scheduled for implementation were expected to cover 20 percent of the world’s total greenhouse gas emissions. Parallel to this, climate policy supporters at the global level have become more involved backing strategies that take into consideration carbon pricing.
415 investors representing over USD $32 trillion in assets released a combined statement at COP24 calling on global leaders to urgently act to fulfill the goals of the Paris Agreement. Among their key principles, the coalition called for strong carbon pricing.
At COP24, nine European Ministers signed a statement to strengthen and extend carbon pricing in Europe. See the full statement and list of Ministers.
“Polish and Baltic companies see that climate mitigation efforts can strengthen competitiveness, and several companies see an opportunity to become fossil-free. These are some of the findings of a new report from the Haga initiative, presented today at COP 24 in Katowice, in cooperation with the Swedish government and the Nordic Council of Ministers. The report confirms that the positive view of climate efforts that has become increasingly common among Nordic companies, is also valid on the other side of the Baltic Sea.”
See the full press release from the Haga Initiative.
The findings, interpretations and conclusions expressed here do not necessarily reflect the views of the Carbon Pricing Leadership Coalition (CPLC). Many of the links on this blog will take you to sites operated by third parties. CPLC cannot guarantee the accuracy or reliability of any information, data, opinions, advice or statements meant on these sites.