The European Commission president questioned G20 governers on Saturday to collaborate an appeal to launch global carbon pricing. Several nations are utilising a price on carbon to help meet their climate goals in the form of a tax or under an emissions trading (ETS), or cap-and-trade, system. When we look at the World Bank report, it shows there are right now 73 carbon pricing instruments getting operated , covering approximate 23% of global greenhouse gas emissions.
“Climate transformation is man-made. So it means we have the capacity to handle it well. For this we require creativity, investments in green technologies, renewable energy potential and energy efficiency … At the G20 I invited governers to be a part of the call for global carbon pricing,” Ursula von der Leyen wrote on X social media, previously recognized as Twitter. Leyen has been encouraging the international community to launch global carbon pricing to rise the transformation to a lower-carbon economy.