Momentum on Carbon Pricing
Momentum appears to be building for setting a price on carbon (carbon tax) that can be traded globally. If the international carbon trading price rises to fully reimburse a 20% equity investor in a project funded by a funding mechanism similar to the Sustainable Energy Finance (SEF) Program by the Climate Financial Advisory Services (CFAS) division of SMEFUNDS Capital Limited. I expect this will really accelerate investment in projects funded by this type of mechanism.
1) Given below are some articles about recent developments in setting a price on carbon:
a) AP article: World’s major oil companies meet in Vatican, commit to support carbon pricing By Nicole Winfield and Frank Jordans, June 14, 2019
b) Insideclimatenews.org article: 75 Business Leaders Lobbied Congress for Carbon Pricing. Did Republicans Listen? by Marianne Lavelle, MAY 23, 2019
Microsoft, Pepsi, Levi’s and others are calling for carbon taxes or fees that could scale up innovation fast enough to combat climate change.
Microsoft, Pepsi, Levi’s and others are calling for carbon taxes or fees that could scale up innovation fast enough to combat climate change.
c) Fortune article: 75 Executives Lobbied Congress for a National Carbon Price. We Listened by Chris Coons, Fortune, June 1, 2019
d) CBS-News Article: Exxon Mobil to spend $1 million lobbying for a carbon tax, Oct. 9, 2018
e) Earth Justice Article: Michael Bloomberg Launches Beyond Carbon, The Largest-Ever Coordinated Campaign Against Climate Change In United States, June 7, 2019
$500 million program will employ advocacy, legal, and electoral strategies to accelerate coal plant retirements, stop gas rush, win state and local policy changes and help elect candidates who are climate champions.
2) Webinars
a) Putting a Price on It: Global Leadership on Carbon Pricing by The Center for Climate and Energy Solutions (C2ES), July 24, 2019
3) Example articles about devastating effects of recent extreme weather events in North America helping to create more interest in placing a price on carbon:
a) Vox Article: The severe floods soaking the Midwest and Southeast are not letting up, By Umair Irfan Jun 11, 2019,
Forecasters predicted the massive floods months ago. NOAA forecast that two-thirds of the contiguous United States would face elevated flood risks. “This is shaping up to be a potentially unprecedented flood season, with more than 200 million people at risk for flooding in their communities,” Ed Clark, director of NOAA’s National Water Center in Tuscaloosa, Alabama, said in March.
b) Guardian article: As climate change bites in America’s midwest, farmers are desperate to ring the alarm, Chris McGreal in Langdon, Missouri, Wed 12 Dec 2018
‘The changes have become more radical’: farmers are spending more time and money trying to grow crops in new climates.
c) CBC article: Across Alberta, B.C. and northern Ontario, thousands displaced as wildfires rage, May 31, 2019
‘This fight is going to be a tough one,’ Alberta’s forestry minister says as fire season starts early.