- Commission President Ursula von der Leyen hosted a high-level event at COP28 to promote the development of carbon pricing and carbon markets. She highlighted that carbon pricing is the centerpiece of the European Green Deal and emphasized the success of the EU Emissions Trading System (EU ETS) in reducing emissions and raising funds.
- Many countries around the world have embraced carbon pricing, but there is a need to go further and faster.
- The European Union is ready to share its experience and support other countries in implementing carbon pricing regimes. The event also featured participation from the World Bank, World Trade Organization, and International Monetary Fund, who all emphasized the importance of carbon pricing for the climate and a fair transition.
- The Commission will continue to provide technical support to countries and ensure the integrity of international carbon markets. The goal is to establish a credible standard that drives transformative investment and avoids unsustainable emissions levels. Carbon pricing is a central part of the EU’s climate policies, and emissions trading will soon apply to new sectors in Europe.
- The Call to Action on Paris-aligned Carbon Markets, launched in June 2023, has received support from 31 countries and focuses on expanding domestic carbon pricing, supporting international compliance markets, and ensuring integrity in voluntary carbon markets.
Source ec.europa.eu
