1 minute read
Theworldisinan existentialclimate crisis.
from Carbon Lease Pool I
by Marketing KL
According to the Intergovernmental Panel on Climate Change (IPCC), the world has until 2030 to cut humancaused carbon dioxide (CO2) emissions in half (and cut other greenhouse gas emissions considerably) to maintain a 50% chance of avoiding the worst effects of climate change.
By 2050, CO2 emissions will need to reach “net zero” –where emissions are in balance with removals to sustain this chance.
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Commitments made at the 2021 United Nations Climate Change Conference (COP26) keep hope alive that avoiding the worst effects of climate change is within our reach, but the peril remains stark.
The latest work from the Intergovernmental Panel on Climate Change makes plain that we must arrest rising emissions now to ward off climate danger.
In this regard, carbon pricing, within an integrated policy mix, is one of the most powerful tools available for guiding economies toward low-emission paths.
To maximize the benefits, carbon price signals must be sustained, strengthened, and extended to a greater portion of global emissions, three quarters of which are currently untouched by carbon pricing instruments.
New York City June 2023
