Carbon Credits: Making a ‘Change’ in the Climate of World Finance! But still is not enough to manage the Climate Crisis with sever temperature rising across the world.
NamasteIndia The SummerOF2024 is coming with an increase in heatwave days, with temperatures reaching up to 38°C in several cities and expected to cross 40°C. The IndiaMeteorologicalDepartment (IMD) predicted most states would witness above-normal temperatures from June!
Despite it still being the start of summer Delhi is getting scorching hot at times touching 45oC. Hundreds of millions of people across India are already facing scorching hot temperatures. Severe heatwaves at the beginning of May was blamed for deaths across the vast region. Schools were forced to close weeks ahead of summer vacations, and new crops withered in parched farmland.
Countries with CarbonPricing mechanismsgenerated a record $104 billion in revenues last year.
Over 50% of the funds were directed towards climate and nature-related programs.
CarbonPricing implemented through CarbonTaxes or EYS ie emissions trading systems , is critical for reducing emissions and fostering low-emission growth.
Despite this achievement, current carbon taxes and ETS are insufficient to meet the ParisAgreement’s climate goals.
24% of global emissions are covered by some form of carbon pricing, but less than 1% are subject to prices high enough to limit temperature increases to below 2°C.
The High-Level Commission on Carbon Prices recommended carbon prices be in the $50-100 per ton range by 2030. Adjusted for inflation, this range is now $63-127 per ton.
The WorldBank emphasizes the need for increased coverage and higher pricing to drive significant climate action.
Source / shared link: https://carboncredits.com/carbon-pricing-revenues-hit-record-104b-in-2023-world-bank/
Originally published on LinkedIn on 2024-05-24 12:24:07: https://www.linkedin.com/feed/update/urn%3Ali%3AgroupPost%3A3300043-7199746989511614464
Carbon Credits: Making a ‘Change’ in the Climate of World Finance! But still is not enough to manage the Climate Crisis with sever temperature rising across the world.
NamasteIndia The SummerOF2024 is coming with an increase in heatwave days, with temperatures reaching up to 38°C in several cities and expected to cross 40°C. The IndiaMeteorologicalDepartment (IMD) predicted most states would witness above-normal temperatures from May to June!
Despite it still being the start of summer Delhi is getting scorching hot at times touching 45oC. Hundreds of millions of people across India are already facing scorching hot temperatures. Severe heatwaves at the beginning of May were blamed for deaths across the vast region. Schools were forced to close weeks ahead of summer vacations, and new crops withered in parched farmland.
Countries with CarbonPricing mechanismsgenerated a record $104 billion in revenues last year.
Over 50% of the funds were directed towards climate and nature-related programs.
CarbonPricing implemented through CarbonTaxes or EYS ie emissions trading systems , is critical for reducing emissions and fostering low-emission growth.
Despite this achievement, current carbon taxes and ETS are insufficient to meet the ParisAgreement’s climate goals.
24% of global emissions are covered by some form of carbon pricing, but less than 1% are subject to prices high enough to limit temperature increases to below 2°C.
The High-Level Commission on Carbon Prices recommended carbon prices be in the $50-100 per ton range by 2030. Adjusted for inflation, this range is now $63-127 per ton.
The WorldBank emphasizes the need for increased coverage and higher pricing to drive significant climate action.
Source / shared link: https://carboncredits.com/carbon-pricing-revenues-hit-record-104b-in-2023-world-bank/
Originally published on LinkedIn on 2024-05-24 12:23:50: https://www.linkedin.com/feed/update/urn%3Ali%3Ashare%3A7199746919676456963
