Asset owners managing US$6 trillion call for global carbon price
Investors managing more than US$6 trillion in assets on Tuesday (Jul 6) called for a coordinated global price on carbon and said emissions costs would need to almost treble by 2030 to reach the world’s climate goals.
The call by The Net Zero Asset Owner Alliance, whose 43 members include some of the world’s biggest pension schemes and insurers, comes ahead of the next round of global climate talks in November.
Currently, 64 carbon pricing instruments such as emissions trading schemes or taxes are in use globally, covering about 21 per cent of global greenhouse gas emissions, a May report by the World Bank said. But even within these schemes prices can vary greatly.
Carbon capture technology an important pillar for Southeast Asia to tackle climate change, say experts
The piecemeal approach makes it hard for global investors and companies to manage risk and plan over the long term, particularly in the development and adoption of new technologies needed to accelerate the low-carbon transition.
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