Carbon Pricing: the Paris Agreement’s Key Ingredient

Environmental Defense Fund | International Emissions Trading Association

…Well-designed carbon markets bring together key elements of success: they provide an essential source of climate finance, combined with strong governance, transparency and accounting frameworks.

They also facilitate win-win technology transfers between nations. In so doing, access to markets can enable countries to reach the full potential of their nationally determined contributions (NDCs). Over time, they can inspire countries to go beyond their INDC [Intended Nationally Determined Contributions] pledges, thanks to the lower costs available through the international market. The provision for internationally transferrable mitigation outcomes in Article 6 of the Agreement will help drive deeper emissions reductions at the lowest possible cost and could help close the emissions gap between what science demands to avoid the most severe impacts of climate change, and the current sum of nations’ individual contributions…


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