Also discussed here: Paris, give us carbon pricing, but give us market mechanisms too! (Joan MacNaughton, World Energy Trilemma, World Energy Council, Sep. 23, 2015)
Today we review a report and recommendations from the World Energy Council, aimed at the COP21 climate conference to take place in Paris in December 2015. Among the important factors that need to be considered in setting a global goal to remain below 2 C warming target is the need to recognize different energy dependencies in various countries and sub-regions, the need to have carbon pricing in place, in order to allow the successful implementation of carbon capture and storage (CCS) without which achievement of the goal is impossible and the major role for the private sector, especially in controlling emissions from the supply chain. For example, the differences between the carbon pricing strategies of fossil fuel provinces in Canada (Alberta, Saskatchewan, Newfoundland) and low carbon energy producing provinces (British Columbia, Ontario, Quebec) and the mix of carbon tax and cap and trade approaches show how local situations lead to different low carbon solutions.
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