Leaders Commit to Cooperate on Carbon Pricing in the Americas

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Posted: Tuesday, December 12, 2017 10:14 pm

PARIS -- On the occasion of the One Planet Summit, government leaders of Canada, Chile, Colombia, Costa Rica, Mexico, the Governors of California and Washington, and the Premiers of Alberta, British Columbia, Nova Scotia, Ontario and Quebec launched the Carbon Pricing in the Americas cooperative framework.

Recognizing that climate change is a global, national and local threat, these American leaders are reaffirming their commitment to the Paris Agreement by pledging to implement carbon pricing as a central policy instrument for climate change action; deepen regional integration of carbon pricing instruments across the hemisphere; and develop carbon policies that support competitiveness, encourage innovation, create jobs, provide healthy environment for their citizens, and deliver meaningful emissions reductions.

With this declaration, leaders from across the continent introduce their shared vision of regional cooperation on carbon pricing in the Americas and commit to collaborate towards strengthening systems for measurement, reporting and verification of greenhouse gas emissions with the ultimate goal of setting the necessary foundations to link their carbon markets.

This renewed commitment to share lessons and improve technical capacity around carbon pricing, comes at a pivotal time: with eight new or enhanced carbon pricing initiatives in place since early 2016, three quarters of them in the Americas, there are now 42 national and 25 sub-national jurisdictions putting a price on carbon emissions.

This declaration builds on the sustainability commitments established by member countries of the Pacific Alliance and the ongoing efforts of Canada and California to accelerate efforts towards clean growth, and will allow countries in the region to address the climate challenge using the most cost-efficient path: collaboration.

Going forward, the working group, Carbon Pricing in the Americas will serve as a platform for cooperation among jurisdictions and, with support from varied stakeholders, including, businesses, financial institutions, nongovernmental organizations, and civil society, will aim to identify opportunities to increase alignment of carbon pricing systems and promote carbon markets that build on already successfully implemented initiatives, such as the Partnership for Market Readiness, among others.

SOURCE: Environmental Defense Fund

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