Paying the (carbon) price for Net Zero: ACCA calls for global minimum price of carbon

In its policy paper:

  • ACCA is calling for more ambitious policies to achieve net zero emissions by 2050. Early and global action on this is necessary.
  • Governments have a crucial role in reducing carbon emissions through regulation, the provision of green infrastructure and appropriately targeted subsidies.
  • Carbon taxes are necessary to reach net zero. By deploying the power of the price mechanism, carbon taxes can ensure that no decision about any carbon intensive activity escapes its influence; consumers producers, investors and innovators all face the same choices.
  • ACCA is calling on a global minimum carbon price. In an integrated global economy unilateral action by individual countries has limits. This would be a major step towards reaching the goal of net zero emissions by 2050, in an equitable and economically efficient way, and not at the expense of continued economic growth.