High carbon price needed for climate goals
Leading economists say that a strong carbon price is needed to drive large-scale climate action. To meet the world’s agreed climate goals in the most cost-effective way while fostering growth requires countries to set this carbon price, aiming to reach $40–$80 per tonne of carbon dioxide by 2020 and $50–100 per tonne by 2030. That’s the key conclusion of the High-Level Commission on Carbon Prices, led by Nobel Laureate Joseph Stiglitz and Lord Nicholas Stern (and with ERC director Harald Winkler as a commissioner). The Commission’s report was released on 29 May in Berlin at the Think20 Summit.