“Leading Economists: A strong carbon price needed to drive large-scale climate action”
A strong global carbon price of 40-80 US dollars per tonne of CO₂ by 2020 and 50-100 US dollars by 2030 could be key to reaching climate goals and keeping the global temperature rise below two degrees, according to a new report by the High-Level Commission on Carbon Prices, released today in Berlin at the Think20 Summit. Commission co-chairs Joseph Stiglitz and Nicholas Stern emphasised that revenues from such a system could be used to finance important complementing policies, e.g. promoting energy efficiency, renewable energy, innovation and investment in sustainable infrastructure. This century’s growth story was the world’s transition to a low-carbon and climate-resilient economy. “There is no other pro-growth story,” said Stiglitz at the presentation.