NEW DELHI (Reuters) - The European Commission president asked G20 leaders on Saturday to join a proposal to set up global carbon pricing. Many ...
STORY CONTINUES BELOW THESE SALTWIRE VIDEOSNEW DELHI - The European Commission president asked G20 leaders on Saturday to join a proposal to set up global carbon pricing.
According to a World Bank report, there are currently 73 carbon pricing instruments in operation, covering around 23% of global greenhouse gas emissions. Leyen has been pushing the international community to introduce global carbon pricing to accelerate the transition to a lower-carbon economy. Speaking at the opening session of the G20 Summit in New Delhi, Leyen said that the EU's 'Emissions Trading System' has helped reduce emission by 35% since 2005, while generating more than 152 billion euros of revenues.Japan, the world's fifth-biggest carbon dioxide emitter, is among the G20 countries that have recently adopted carbon pricing. The Tokyo Stock Exchange plans to open its carbon credit market and begin trading around October.
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