HomeCarbon NewsG20 Leaders Discuss Carbon Pricing to Combat Climate Change

G20 Leaders Discuss Carbon Pricing to Combat Climate Change

Carbon Pricing has finally been recognized as a legitimate way to combat climate change by G20 leaders, in a communique released Saturday. Country officials have been slow to release details on directly combatting climate change, mainly due to influence from the Trump administration. However, the “Biden Effect” is coming into play in international climate change decisions resulting in open discussions.

The communique mentioned “the use of carbon pricing mechanisms and incentives” as an appropriate way to combat global warming.  This is the first-time carbon pricing has been mentioned as a solution to climate change according to French finance minister Bruno Le Maire, a staunch supporter of carbon pricing.

Biden is considering different measures to reduce carbon emissions according to U.S. treasury secretary Janet Yellen. One such solution does involve putting a base price on carbon emissions. This price would then act as a baseline for other countries to erect their own carbon pricing methods. This differs from Mr. Le Maire’s idea of having a global floor for all carbon prices throughout the world.

It is still early to see how G20 leaders will proceed in their carbon pricing measures as the EU will introduce tariffs on carbon imports on July 14, the first of its kind in the world. There is a new found optimism from the international community on the use of carbon pricing as a means to combat climate change.

Most Popular
LATEST CARBON NEWS

From Wild Seaweed to High-Value Products and Carbon Credits

A wave of seaweed is covering the Caribbean coasts, killing wildlife while harming humans and tourism, but an innovative company is turning it into...

Ammonia: Carbon-Free Fuel for the Shipping Industry

Converting ammonia into hydrogen is an emission-free fuel to help decarbonize the heavy-duty and shipping transportation industry. The transportation industry is the biggest polluter in...

How The First Carbon Negative Nation of Bhutan Did It

As the world’s richest and largest emitting countries are struggling to reduce emissions, Bhutan became the first carbon negative nation. Fog-enshrouded temples nestled in mountainous...

Google’s Eco-Friendly Routing Comes to Europe

Google expanded its eco-friendly routing on its Google Maps to 40 countries across Europe. With Google Map’s eco-friendly routing, drivers can choose a route that’s...
CARBON INVESTOR EDUCATION

The 5 Top Carbon Offset Project Developers

Are you looking to directly reduce your carbon footprint or support projects that cut emissions elsewhere? Then carbon credits allow you to do either...

The Top 3 Private Carbon Companies to Watch Right Now

Right now, the carbon space is heating up. Dozens of companies are jumping into what’s fast becoming one of the hottest spaces to invest...

Carbon Insetting: The Target of Scope 3 Carbon Offset Accounting

Carbon offsets are a well-known sustainability concept so you most likely have heard of them. But there’s a relatively new sustainable supply chain term...

Tonne Year Accounting for Temporary Carbon Storage

You most likely know the climate benefits of storing carbon and removing gigatons of it from the atmosphere to limit climate change. But we also...