Leadership on Carbon Pricing in 2020-21
, overwhelmed health care systems, closed borders, and brought economies to a near halt over the past year. As future generations look back at this time, they will see this pandemic as one of humanity s greatest tragedies, but they will also see our resilience. Through collaboration and collective action, we now need to focus on building back better and set a path toward green, resilient and inclusive development in the long term.
Like COVID-19, the climate crisis does not stop at borders, and we need the same level of urgent and decisive action. Despite the global health crisis, 2020 saw the largest alliance of countries and corporations committing to achieving net-zero carbon emissions by 2050 as part of the United Nations Race to Zero campaign. These commitments now cover at least 68% of the global economy, 56% of the global population (over 4.2 billion people), and 61% of global greenhouse gas emissions. Our job now is to mobilize this su
Carbon pricing readiness to action: The PMR story
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Over the last decade, the Partnership for Market Readiness (PMR) has been the World Bank’s flagship technical assistance program on carbon pricing and carbon markets, supporting carbon pricing efforts in more than 20 countries. The PMR comes to an end in June, but support for carbon pricing will be very much alive.
A new initiative launched earlier this year the Partnership for Market Implementation aims to support at least 10 countries to go to the next level and implement carbon pricing, and another 20 new countries to prepare for a carbon pricing. The experience gained through PMR will be invaluable as countries take these next steps.