Carbon prices are still far too low to prevent climate change

Some 85% of global emissions are currently not priced, according to a report issued in May 2017 by a High-Level Commission on Carbon Prices, co-chaired by Joseph Stiglitz and Lord Nicholas Stern, both respected figureheads in the fight against climate change. [...]about three quarters of the emissio...

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Bibliographic Details
Published in:The OECD observer 2018-06, p.1-3
Main Author: Van Dender, Kurt
Format: Article
Language:English
Subjects:
Carbon
Carbon dioxide
climate
Climate change
economics
Emission standards
Emissions
Energy
Energy consumption
environment
Environmental tax
Excise taxes
Financial institutions
fuel
Global temperatures
green growth
Greenhouse effect
greenhouse gas
Greenhouse gases
innovation
Paris Agreement
Prices
tax
Temperature
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Summary:Some 85% of global emissions are currently not priced, according to a report issued in May 2017 by a High-Level Commission on Carbon Prices, co-chaired by Joseph Stiglitz and Lord Nicholas Stern, both respected figureheads in the fight against climate change. [...]about three quarters of the emissions covered by a carbon price are priced below USD 10 per tonne of CO2 (tCO2). [...]almost no emissions from energy use are priced at levels required to keep global temperature increases below 2 degrees Celsius limit, beyond which climate change could spin out of control . More about the OECD at COP23: http://www.oecd.org/environment/cc/cop23.htm. almost no emissions from energy use are priced at levels required to keep global temperature increases below 2 degrees Celsius limit, beyond which climate change could spin out of control W References High-Level Commission on Carbon Prices (2017), Report of the High-Level Commission on Carbon Prices, World Bank, Washington, DC.
ISSN:0029-7054
1561-5529
DOI:10.1787/c7775f93-en