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Past Event

Building climate cooperation: The critical role for international carbon price floors

Co-hosted by the Brookings Institution and the International Monetary Fund

Past Event

The Paris Agreement is galvanizing countries to pledge net zero greenhouse gas emissions targets for the middle of the 21st century, but countries also need to commit to reducing emissions ambitiously over the next decade. This requires rapidly scaling up international cooperation. A new IMF Staff Climate Note argues that an international carbon price floor (ICPF) agreement can enable greater near-term reductions by building confidence that all participating countries are undertaking comparable mitigation efforts. An ICPF could involve a small number of major emitting countries that all agree on a minimum carbon price that each would implement. The report describes how such an agreement can be pragmatic, equitable, and accommodate a range of carbon pricing approaches.

On Friday, June 18, the Center on Regulation and Markets at Brookings and the International Monetary Fund convened an event to discuss an ICPF’s rationale, policy design, potential emissions performance, and prospects for implementation.

Viewers submitted questions via email to events@brookings.edu or via Twitter using #CarbonPrice. View the report here.

Agenda

Introduction

Keynote remarks

Paper presentation

Ian Parry

Principal Environmental Fiscal Policy Expert, Fiscal Affairs Department - International Monetary Fund

Panel discussion

Joseph Aldy

Professor for the Practice of Public Policy - Harvard Kennedy School

Ian Parry

Principal Environmental Fiscal Policy Expert, Fiscal Affairs Department - International Monetary Fund

Moderator

Adele Morris

Former Senior Fellow - Economic Studies

More Information

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