Xinhua, Washington :
The World Bank Group said Monday that 73 national and 11 regional governments and more than 1,000 companies have expressed their support for carbon pricing ahead of the UN Climate Summit.
These countries and regional governments, including China, Russia, the European Union, Indonesia, Mexico and South Africa, are responsible for 54 percent of global greenhouse gas emissions.
World Bank Group President Jim Yong Kim said in a statement that “governments representing almost half of the world’s population and 52 percent of global GDP have thrown their weight behind a price on carbon as a necessary, if insufficient, solution to climate change and a step on the path to low carbon growth.”
Companies such as Nokia, LG Electronics, Lego and Shell, are among the supporters of carbon pricing.
The supporters were recognizing that carbon pricing, including carbon taxes and emissions trading systems, was a necessary part of solution to drive investment in cleaner economy, according to the World Bank.
In order to keep the momentum, the World Bank will also convene a new “carbon pricing leadership coalition” to encourage countries to advance carbon pricing solutions after the Summit ends next Tuesday.
Members of the coalition will share experiences and spur action across their sectors, supply chains, and with their neighbors and allies, said the president.
