For the first time, an unprecedented
alliance of Heads of State, city and state leaders, with the support of heads
of leading companies, have joined forces to urge countries and companies around
the globe to put a price on carbon.
The call to price carbon comes from
the Carbon Pricing Panel – a group convened by World Bank Group President Jim
Yong Kim and International Monetary Fund (IMF) Managing Director Christine
Lagarde - to spur further, faster action ahead of the Paris climate talks. They
are joined in this effort by OECD Secretary General Angel Gurria.
The panel includes German Chancellor
Angela Merkel, Chilean President Michelle Bachelet, French President François
Hollande, Ethiopian Prime Minister Hailemariam Desalegn, Philippines President
Benigno Aquino III, Mexican President Enrique Peña Nieto, Governor Jerry Brown
of California, and Mayor Eduardo Paes of Rio de Janeiro.
These global leaders are calling on
their peers to join them in pricing carbon to steer the global economy towards
a low carbon, productive, competitive future without the dangerous levels of
carbon pollution driving warming. Through strong public policy they are
providing certainty and predictability to the private sector so they can make
long-term investments in climate smart development.
Private sector support comes from US
Institutional Investor CalPERS, ENGIE of France, Mahindra Group of India, and
Netherlands-based Royal DSM, who will help link business needs with public
policies through the Carbon
Pricing Leadership Coalition, an
action based platform that will be officially launched in Paris on November 30,
2015.
“There has never been a global
movement to put a price on carbon at this level and with this degree of unison.
It marks a turning point from the debate on the economic systems needed for low
carbon growth to the implementation of policies and pricing mechanisms to
deliver jobs, clean growth and prosperity,” World Bank Group President Jim Yong
Kim said. “The science is clear, the economics compelling and we now see
political leadership emerging to take green investment to scale at a speed
commensurate with the climate challenge.”
“Finance ministers need to think
about reforms to fiscal systems in order to raise more revenue from taxes on
carbon-intensive fuels and less revenue from other taxes that are detrimental
to economic performance, such as taxes on labor and capital. They need to
evaluate the carbon tax rates that will help them meet their mitigation pledges
for Paris and accompanying measures to help low-income households vulnerable to
higher energy prices,” said Christine Lagarde, Managing Director of the IMF.
Around the world, about 40 nations
and 23 cities, states and regions have implemented or are putting a price on
carbon with programs and mechanisms covering about 12 percent of global
greenhouse gas emissions. The number of implemented or scheduled carbon pricing
instruments has nearly
doubled since 2012, reaching an aggregate market value of about $50 billion.
This collective experience is
providing us with the tools to take the vital step towards pricing carbon and
is captured in FASTER
principles developed by the World Bank Group
and OECD, with input from the IMF. These principles are based on fairness;
alignment of policies and objectives; stability and predictability;
transparency; efficiency and cost-effectiveness; and reliability and
environmental integrity.
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Comments
The $50 billion carbon tax will be
paid by US energy consumers to their power companies who will then ship it to
the 3rd world Communist Dictators in over 100 UN member
countries. This is a wealth transfer of
$153 per person or over $500 per household electric bill. Following that, power
companies will began to shut down 80% of our energy producing coal plants and
begin to increase our electric bills 500%. Obama promises: “if you like your
power company, you can keep your power company”. If your electric bill is $2000 per year, it
will be $10,000 per year. Remember to
thank a Democrat. This travesty is
brought to you by the UN and the global warming hoax.
Norb Leahy, Dunwoody GA Tea Party
Leader
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