Climate Leadership Coalition, the Haga Initiative and Skift Business Climate Leaders supported by Corporate Leaders Group Europe, BCSD Portugal and CER – Sustainable Business Network Slovenia have launched Call on Carbon initiative to ramp up climate investments and effective carbon pricing.
Today, only a quarter of global greenhouse gas emissions are covered by carbon pricing initiatives, and a fraction of those are within the recommended range in the Paris Agreement. Direct fossil fuel subsidies are worth ten times the revenues raised by carbon pricing, and the indirect costs of burning fossil fuels and the impacts of climate change are a hundred times greater.
We now need a step change. We are only one investment cycle away from 2050, and this is likely to be the last chance to get policies right. We urge governments to act on this during 2021 and in doing so support COP26 in Glasgow and make it a true game changer.
The signatories call on governments to:
- back their net zero targets with effective, robust, reliable and fit-for-purpose carbon pricing instruments, consistent with the Paris Agreement, to facilitate a cost-efficient investment path to reach net zero emissions;
- align their carbon pricing instruments where appropriate to create a stable and predictable investment environment; and
- finalise the rules for the international market mechanisms under Article 6 of the Paris Agreement to support cost-effective mitigation efforts, create a level playing field and minimise carbon leakage while enabling greater ambition.
Join the call on Call on Carbon’s website and support the green transition!