The purpose of the Carbon Pricing Leadership Coalition is to promote carbon pricing as an effective tool to reduce emissions so that 50% of global emissions are covered by carbon pricing by 2030. In 2020, the rate was 22% globally. Coalition partners agree to advance the carbon pricing agenda by working with each other towards the long-term objective of a carbon price applied throughout the global economy.
More specifically, this commitment will follow 3 strategic approaches:
- strengthening carbon pricing policies to redirect investment commensurate with the scale of the climate challenge;
- bringing forward and strengthening the implementation of existing carbon pricing policies to better manage investment risks and opportunities;
- enhancing cooperation to share information, expertise and lessons learned on developing and implementing carbon pricing in various jurisdictions.
During the One Planet Summit in December 2017, twelve governments and regions from the American continent collectively committed to developing carbon markets in the Americas.
Since then, 3 countries, namely Argentina, Chile and Colombia, have implemented carbon pricing and Canada and Mexico are currently designing carbon markets.
The CPLC brings together numerous partners, including national and local governments (34), companies (164) and NGOs (85). The coalition includes some powerful multinationals, and has broad geographic diversity. The CPLC secretariat is administered by the World Bank Group, which also finances the initiative.
The CPLC is guided by a panel of Heads of State and Government, a High-Level Assembly co-chaired by a Minister and a CEO, a Steering Committee and 3 regional Working Groups (Africa, Asia and Latin America), and 4 sector-focused Task Teams, focusing on the maritime sector, the banking sector, the value chains and higher education). A high-level annual meeting with all CPLC partners takes place during the WB/IMF Spring Meetings.
The Coalition also has an Americas working group bringing together 12 leaders (Canada, Mexico, Colombia, Costa Rica, California, Washington, Quebec, Ontario, Nova Scotia, Alberta and British Colombia) to develop carbon markets in the Americas.
The CPLC publishes thematic reports as well as an annual report entitled the Carbon Pricing Leadership Report.
The annual reports: 2020, 2019 – carbon pricing and competitiveness.
The website: https://www.carbonpricingleadership.org/