G20 Foundation Publications Australia 2014 - Page 76

C L I M AT E C H A N G E & S U S TA I N A B I L I T Y C L I M AT E C H A N G E & S U S TA I N A B I L I T Y A loud and clear call from business and governments in favour of carbon pricing 76 Emissions trading is not a new concept - especially in the US, where it was invented. It was the powerful, breakthrough idea that brought together environmentalists and industry, and Republicans and Democrats, in a legislative triumph on acid rain. Building on that success, the US advocated its inclusion in the Kyoto Protocol negotiations, and it was adopted as one of the 1997 treaty’s flexible mechanisms. This year, there is a loud and clear call from business and governments in favour of carbon pricing. This should be a central topic for the Paris negotiations – how to build on the successful national and regional efforts to price carbon, and how to make the markets fit for future use. Dirk Forrister, President, International Emissions Trading Association When the politics of climate change shifted in the US, the EU picked up the idea and ran with it. Following Europe’s pioneering efforts, several other regions have followed suit – including California and the New England states in the US. A World Bank report this year found that over 60 regions have a price on carbon or are preparing to introduce a carbon pricing mechanism 1 . In total, the world’s emissions trading systems (ETSs) were valued at $30 billion at the end of 2013, in markets from Europe to China, California, Kazakhstan and New Zealand. More ETSs are in the pipeline across the world. Cap-and-trade systems are the best pricing tool available to governments to fight climate change. They get the targeted reduc ѥ́ЁѡɥЁɥL)չɉхఁݡ́չх)ٕ́ɕՍѥ́Ёѡٕɹӊe)͕ЁɥQɅѕ́܁ѕ+LݕȁɅѽ́)䃊L᥉䁥܁ѡ䁵)ѡЁQ䁅ɔɕѼ͔)Ѽ䰁ѡȁхѕ́ѼɕՍ)ѡȁͥ́ͥєɍͥ)݅́ɽѡȁѕ́ݡ)ɔѥѡȁȁٕ她)͕Ёɕ́ݡݕ)9Ʌ䰁危́Օ)̸ͥQ䁑ݡɥ)Ё̰Ёɥ͔ѡѥ̸)QɥݥѡɅɭ)ѕ́ѼɕЁѡ͔́)ݹ̰͕́ѡTQLɔ)ѥեѼ͕́ѡЁѕéͥ)ʹѼ)չ̰ѡ՝ѡ́́܁)ɕ͕хѕ́Ѽ)ͅ䰁́ЁЁѡ̰ͼݥ)͕Ѽєɑȁѡɐѥ́)Ё͕ѡѥ̰ݥѠ)ͥ́Ѽɽ܁չ)Q́ɥͥ́ѡ䁅)ɉɭЁѡЁЁх)ѡєиQɭЁݥ͕)ͥѼ̰ͥݡЁ͔Ѽ)ٕѵ̃Ĺͥ́݅)ɥ́ЁȰɔͥٔ)ѕ́ѡЁѡݽɱ́Ѽ)ɉ͔Ս́ɉɔ)ѽɅɔ)%ͥ͵ѱ䰁Ʌ)ѕձ͔ݥѠѡ)ȁхɥ́Չͥ̃L)ѕѡ%ѕɝٕɹхA) є %A ȀQɭа)ѡɥمє͕ѽȰݽձѡ)ݽɬͼѡЁх́ݽձeЁٔ)ѼLٕɹ́ݽձЁѡ)٥ɽхѥٕ́ݥѡЁչՔ)ɑѼѡՉQ%A ͼ)ѕѡхɽ́ɑ)́ɥ٥ݸ̃L)ɕѕȁѥٔѥ)Q́́ѡɕq䁝ɅtȁAɥ͕ѥ)ѡɅݽɬȁ䁹ݽɭ)ɭаݥ́ݕѥ)ѕ̸Q́ݽձٕɔ)ѥٔѡхɭ̰)͔Ёݽձѡٕѵ)ɥ齸ɽ́ɽ͕Ёչѥ̸)ͥ́Ʌѽ́ݽɬٕ)ٕѕ́́͡ݸ)ѡ ٕЁ5ʹ( 4ɽЁ͕ѥѕ)ٕչɥ́Ё)͔݅ɐѥѕԁ)хٕ́Ʌѡ 4)Ѽɽ́ѡЁɅɽɝ͍)䵉͕ѥѥٕ́Սѥ)Ѽչ䵉͕)ͽȁѥɥѥ є)́Ё܁ɽЁѡ͔Ս)ٕѵ́Ёչѥ)ѡɔ݅́ɭЁѕɥ٥ѡ)%ѡѡ̰ٕɹ)ݥхЁѼݸѡх)ѡAɥ́єɕи%ѡ)ݽɱ͕́ɥ́ЁɥͥѼѡ)єɭ+LٕѕȰɭ̃LٔѼ)䁄ɽѡиZ)]ɱ иMхєQɕ́ ɉ)Aɥи]͡ѽ ]ɱ (()%A Mյ䁙ȁA嵅̰%) є а5ѥѥ є) ɥѥ]ɭɽ%%$Ѽѡ)Ѡ͕͵ЁIЁѡ%ѕɝٕɹх)A є mȰ