2 Part Series
Carbon pricing is an approach that uses market mechanisms to reduce emissions leading to climate change mitigation and fosters national and international climate action. Putting a price on carbon, is one of the strongest policy instruments available for combating climate change. It has the potential to decarbonize the world’s economic activity by changing the behavior of consumers, businesses, and investors while unleashing technological innovation and generating revenues. In short, well-designed carbon prices offer triple benefits: they protect the environment, drive investments in clean technologies, and raise revenue.
Outcomes and decisions of Paris Agreement’s article 6 - which provides for voluntary cooperation among parties in implementing their nationally determined contributions (NDCs), including through use of market-based approaches- has been deferred to COP25. This webinar series seeks to enhance the capacity building of climate change stakeholders and development practitioners by exploring the challenges in adopting market-based approaches that include carbon pricing, innovative finance models, effective mechanisms, instruments and verification of carbon pricing.