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Asset owners managing $6 trln call for global carbon price - Netscape Money & Business

Asset owners managing $6 trln call for global carbon price By Susanna Twidale and Simon Jessop Reuters LONDON (Reuters) - Investors managing more than $6 trillion in assets on Tuesday called for a co-ordinated global price on carbon and said emissions costs would need to almost treble by 2030 to reach the world s climate goals. The call by the The Net Zero Asset Owner Alliance, whose 43 members include some of the world s biggest pension schemes and insurers, comes ahead of the next round of global climate talks in November. Currently, some 64 carbon pricing instruments such as emissions trading schemes or taxes are in use globally, covering just 21% of global greenhouse gas emissions, a May report by the World Bank said.

Carbon prices must treble by 2030, $6 6trn investor coalition urges

Carbon prices must treble by 2030, $6.6trn investor coalition urges The UN-convened Net-Zero Asset Owner Alliance, whose members manage $6.6trn of assets, is warning that the world won t decarbonise rapidly enough to deliver the Paris Agreement without a radical overhaul of carbon pricing. According to the paper, some 80% of global annual emissions are not covered by carbon pricing mechanisms In a new discussion paper published today (6 July), the Alliance sets out its vision for transforming global carbon pricing mechanisms in line with the Paris Agreement’s 1.5C trajectory. The Intergovernmental Panel on Climate Change (IPCC) has stated that the world will have the best chance of delivering this aim if net global emissions are halved by 2030 and brought to zero by 2050.

Daily on Energy: Oil markets unpredictable as OPEC+ looks for supply deal

Daily on Energy: Oil markets unpredictable as OPEC+ looks for supply deal
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