Having effortlessly transitioned into acting, Fouzia's debut film swiftly captured global acclaim, earning accolades at the prestigious Cannes Film Festival
The International Monetary Fund (IMF) has proposed to set up an international carbon price floor to help limit global warming and achieve the transition towards low carbon growth over this decade.
“Gradually increasing price on carbon encourages innovation and transition to renewable energy, clean mobility, and low carbon technologies,” IMF managing director Kristalina Georgieva said on Friday.
“Limiting global warming to 1.5 to 2 degrees will require emissions to be cut by a quarter to a half by 2030, and this is unlikely to happen without measures equivalent to a global carbon price of around $75 per ton by the end of this decade,” she said, noting that the current global average emissions price is only $3 per ton.
Noting that there has been progress, with over 60 national and subnational carbon pricing schemes around the world, Georgieva said “we have long way to go”, reports Xinhua news agency.
Georgieva said IMF staff is publishing a proposal on Friday that sets out how an international carbon price floor can help achieve the goal of accelerating the transition to low carbon growth over the course of this decade.
She highlighted three crucial elements of such a price floor: it would focus on a small number of large emitters, such as some or all G20 countries; the agreement would be anchored on a minimum carbon price - a single, efficient parameter - that would allow “simultaneous action” across different countries; a carbon price floor agreement would be “flexible, pragmatic, and equitable” and account for different responsibilities across countries with different pricing based on different development levels and historical emissions.
The IMF chief noted that a carbon price floor arrangement does not mean carbon taxes per se.
“While taxes are an efficient mechanism, a price floor can work through other policy measures - such as regulation or emissions trading - that achieve equivalent outcomes,” she said. — IANS
Having effortlessly transitioned into acting, Fouzia's debut film swiftly captured global acclaim, earning accolades at the prestigious Cannes Film Festival
Parag, who reached his 50 off 34 balls, cracked 25 runs with three fours and two sixes off the final over bowled by star South Africa paceman Anrich Nortje
Fans were left scratching their heads when Mumbai opted to take Bumrah out of the attack after he bowled the fourth over
With the help of modern equipment, manicured golf courses and elite athletes the scores are getting lower and the game becoming even more captivating
With 10 matches remaining Arsenal lead a three-way title race having won eight successive games
Three separate Israeli strikes on Wednesday, including on a health centre in the border village of Habariyeh, killed 11 civilians
Netanyahu tries to soothe a rift with Biden as he plans to send a government delegation to Washington after earlier cancelling the trip
Among the 24 horses Japan has sent to Dubai is impressive Riyadh Dirt Sprint winner Remake who eyes a Middle East double