Tag: carbon pricing

BG Group has joined the World Bank Carbon Pricing Leadership Coalition (CPLC), an initiative which supports carbon pricing systems and policies.

 Drawing on experiences with carbon pricing initiatives around the world, new research lays out principles for governments and businesses to develop successful and cost-effective schemes to put a price on social costs of greenhouse gas emissions.The research by the World Bank Group, the Organisation for Economic Co-operation (OECD), with input from the International Monetary Fund, says that well designed carbon pricing schemes are a powerful and flexible tool that can cut emissions causing climate change. At the same time, a new World Bank Group report, State and Trends of Carbon Pricing 2015, shows the number of implemented or planned carbon pricing schemes around the world has almost doubled since 2012, and is now worth about $50 billion.“The world needs to find effective ways to reduce carbon pollution,” said World Bank Group President, Jim Yong Kim.“We must design the best ways to price carbon in order to help cut pollution, improve people’s health, and provide governments with a pool of funds to drive investment in a cleaner future and to protect poor people.”“With COP21 fast approaching, the need for meaningful carbon policies is more important than ever. Carbon pricing is central to the quest for a cost-effective transition towards zero net emissions in ...

  In early June,  major oil and gas companies, BG Group plc, BP plc, Eni S.p.A., Royal Dutch Shell plc, Statoil ASA and Total SA, announced their call to governments around the world and to the United Nations Framework Convention on Climate Change (UNFCCC) to introduce carbon pricing systems and create clear, stable, ambitious policy frameworks that could eventually connect national systems. These would reduce uncertainty and encourage the most cost effective ways of reducing carbon emissions widely. The six companies set out their position in a joint letter from their chief executives to the UNFCCC Executive Secretary and the President of the COP21. This comes ahead of the UNFCCC’s COP21 climate meetings in Paris this December. With this unprecedented joint initiative, the companies recognize both the importance of the climate challenge and the importance of energy to human life and well-being. They acknowledge the current trend of greenhouse gas emissions is in excess of what the Intergovernmental Panel on Climate Change says is needed to limit global temperature rise to no more than 2 degrees Centigrade, and say they are ready to contribute solutions. As the chief executives write:“Our industry faces a challenge: we need to meet greater energy ...