Internal carbon prices – also known as shadow carbon pricing – could prod companies into taking decisions that are good for both business and the planet.
President of Kenya William Ruto (C) surrounded by other African leaders at the Africa Climate Summit 2023 in Nairobi.
Photo by Luis Tato/AFP via Getty Images
There were three important moments in Africa this year which highlight a mix of progress, priorities and potential pitfalls in the fight against climate change.
Not only is deforestation unsightly. Fewer trees also mean less precious carbon sinks to absorb anthropogenic greenhouse gas emissions.
Flickr
Any smart climate strategy will need to simultaneously move away from fossil fuels and protect biodiversity, including through carbon sink preservation and a shift toward sustainable agriculture.
Karizki Hadyanafi, National Development Planning Agency (BAPPENAS); Bimo Dwisatrio, Centre for International Forestry Research, and Sandy Nofyanza, Centre for International Forestry Research
As the world’s largest archipelagic state, Indonesia has great potential to earn carbon credits to protect its endangered mangroves and seagrass – which now store around 17% of global “blue carbon”.
The safeguard mechanism is supposed to stop Australia’s largest polluters from emitting over a certain threshold. It’s been widely criticised for lacking teeth, and is finally under review.
Right now, the safeguard mechanism meant to reduce emissions is not fit for purpose. Labor is exploring ways to fix it - and create a proper pollution market.
A stray polar bear is seen outside Oktyabrsky mine on the outskirts of the Russian industrial city of Norilsk in 2019.
Irina Yarinskaya/AFP
The war in Ukraine threatens to turn back the clock on Russia’s climate progress, with some calling on the country to leave the Paris Agreement and roll back environmental regulations.
What should be done to enhance Indonesia’s emission trading scheme’s accountability? We list three points to consider to further enhance the scheme’s transparency.
Indonesia has embarked on its carbon-pricing journey. However, many elements regarding the scheme remain unknown. Here’s what we need to know before the pilot project commenced.
Too many industries have been exempted from carbon rules.
Coatesy
Stabilising Earth’s climate depends on a lot more than deals struck at conferences like Glasgow. But those agreements set a frame for real-world decisions.
Uncertainty about carbon market rules will be problematic for New Zealand, given its reliance on overseas carbon trading to meet its new climate pledge.
The prime minister road-tested an avalanche of slogans on Wednesday, some of them clearly false.
Coal accounted for 10 billion tonnes of carbon dioxide emissions globally in 2018. Germany plans to close its coal-fired power stations, like this one in Luetzerath, by 2038.
(AP Photo/Michael Probst)
A global emissions-credit trading system could bring an end to the production of coal-fired electricity, spur innovation and help countries meet their greenhouse gas emissions goals.
If problems in such schemes are not addressed, the credibility of soil carbon trading will be undermined. Ultimately the climate - and the planet - will be the loser.