Calls for a global price on carbon intensified at a high level United Nations meeting in Abu Dhabi this week, with former United States vice president Al Gore pinpointing it as his top priority in tackling climate change.
Asked what the one action he would like to see governments take in the fight to limit global warming, he said, “Put a price on carbon in markets and put a price on denial in politics,” to loud applause from the audience.
Mr Gore was speaking at the Abu Dhabi Ascent, held over two days, where more than 1000 people, including 100 government ministers, gathered for their first and only chance to prepare for the Climate Summit to be hosted by UN Secretary General Ban Ki-moon in September.
Environmental news website RTCC reports Mr Gore’s call for a carbon market was given substance by similar views from the World Bank.
The global financial institution issued a draft statement inviting governments and companies to “pledge to work together towards the long-term objective of a carbon price applied throughout the global economy”.
They should do this though strengthening existing carbon pricing policies, and exchanging expertise with a view to setting up new ones, said the statement.
The World Bank has said its statement would be released in its final form at the UN Summit hosted by Secretary-General Ban Ki-moon.
RTCC reports that unlike the UN’s ongoing climate negotiations, which see leaders tiptoe around possible contributions to a new climate treaty, the Summit is an opportunity for individual countries and businesses to declare “bold pledges” to tackle climate change.
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We are encouraging countries, sub-national jurisdictions, and companies to join a growing coalition of first movers to support putting a price on carbon,” said Rachel Kyte, World Bank Group vice president and special envoy for climate change.
“A carbon price provides a necessary signal for investment in low-carbon and resilient growth and, regardless of the mechanism used, should be part of any package of policies to scale up mitigation.”
Over 40 national and 20 sub-national governments have adopted carbon price schemes, according to the World Bank, accounting for around 22 per cent of global emissions.
Others are still developing systems, which if brought into fruition could cover almost half of global CO2 emissions.
Mr Gore praised these efforts, including China’s experiments with a carbon trading scheme, as a case for “optimism”.
Regardless of these efforts, carbon pricing has suffered some serious setbacks over recent years, with Australia’s new conservative Liberal-National government working to repeal the country’s existing carbon price laws, and the EU working on reforms to its own beleaguered carbon trading scheme.
Speaking at the end of the event, UN Secretary General Ban Ki-moon urged delegates to build political momentum in their own countries, ahead of his Summit and the UN’s annual conference in Peru later this year.
“Too many are sitting on the fence, waiting for others to lead,” said Mr Ban, whose rhetoric on climate change has been strengthening, as the issue has risen to the top of his agenda.
He emphasised that actions should be built on “concrete deliverables”.
During the two days of talks, participants discussed topics such as energy efficiency, agriculture, cities and agriculture.
