Youth destination IAS

Carbon pricing leadership coalition report 2021-2022

Share with Your Friends

Carbon pricing leadership coalition report 2021-2022

This report has been released by the Secretariat of the Carbon Pricing Leadership Coalition (CPLC).

This report provides review on the following:

  • Global developments in carbon pricing, implications for the development of the carbon market, and the broad limits of carbon pricing potential.
  • Carbon pricing curbs greenhouse gas emissions by imposing tariffs on emissions and/or offering incentives to lower emissions.

There are two main types of carbon pricing:

  • Carbon Tax: This is the price that governments charge emitters for each metric ton of carbon dioxide they emit.
  • Emissions Trading System (Cap and Trade): This is a tradable-permit system for greenhouse gas emissions. Under this, an upper limit (cap) of greenhouse gas emissions can be set. To this extent emissions are permitted.

Key Findings of Report:

  • Currently less than 4% of global emissions are under carbon pricing. This is within the limits required by the year 2030 to meet the global anti-heating targets of the Paris Agreement.
  • Many countries have increased their carbon tax rates and taken a more ambitious route.
  • Experimental Emissions Trading System (ETS) is being considered in several countries.
  • The agreement on Article 6 is further encouraging interest in carbon markets.
  • It offers nations an alternative to environmental inclusiveness to avoid double counting. It also paves the way for private capital to enter developing countries.

Carbon Pricing Leadership Coalition (CPLC)

This is a voluntary initiative. It brings together the leadership of government, business, civil society, and academia. It will enhance global understanding of carbon pricing as a means of accelerating and funding effective climate action.

Source – The Hindu

Download Our App

MORE CURRENT AFFAIRS

Register For Latest Notification

Register Yourself For Latest Current Affairs

August 2022
M T W T F S S
« Jul    
1234567
891011121314
15161718192021
22232425262728
293031  

Mains Answer Writing Practice

Recent Current Affairs (English)

Current Affairs (हिन्दी)

Subscribe Our Youtube Channel

Click to Join Our Current Affairs WhatsApp Group

In Our Current Affairs WhatsApp Group you will get daily Mains Answer Writing Question PDF and Word File, Daily Current Affairs PDF and So Much More in Free So Join Now

Register now

Get Free Counselling Session with mentor

Hello!

Login to your account

Open chat
1
Youth Destination IAS . PCS
To get access
- NCERT Classes
- Current Affairs Magazine
- IAS Booklet
- Complete syllabus analysis
- Demo classes
https://online.youthdestination.in/