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World Bank, six nations call for a price on carbon
November 30, 2015 / 6:24 PM / 2 years ago

World Bank, six nations call for a price on carbon

(Reuters) - The leaders of six countries including France and Mexico, as well as the heads of the World Bank and the International Monetary Fund, on Monday urged other nations and big corporations to put a price on carbon emissions.

A Paris city hall security employee patrols at the exhibition "Paris de L'Avenir", a showcase for tangible climate solutions in the context of the COP21 World Climate Summit, in front of Paris city hall, France, November 30, 2015, as t the World Climate Change Conference 2015 (COP21) started today in Le Bourget. REUTERS/Eric Gaillard

On the opening day of a global climate change summit that is expected to give relatively short shrift to the idea of carbon markets or pricing, the group launched the Carbon Pricing Leadership Coalition initiative in an effort to spread the word and share best practice for successful carbon pricing. The other heads of state were from Chile, Ethiopia, Germany and Canada.

World Bank Group President Jim Yong Kim said there was “increasing momentum” for the use of carbon pricing.

A group of European energy companies came out in favor of carbon markets this year, but many activists and some nations are increasingly leery of pricing mechanisms.

Full statement: here

Reporting by Bate Felix; Editing by Janet Lawrence

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