The role of carbon pricing in the Paris Agreement

Authored by: İzzet Arı , Ramazan Sarı

Routledge Handbook of Energy Economics

Print publication date:  September  2019
Online publication date:  September  2019

Print ISBN: 9781138208254
eBook ISBN: 9781315459653
Adobe ISBN:


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The United Nations Framework Convention on Climate Change, the Kyoto Protocol, and the Paris Agreement encourage using market-based instruments. As a market-based instrument, carbon pricing such as carbon taxes and carbon trading ensures cost-effective emissions mitigation. Article 6 of the Paris Agreement promotes global carbon pricing and provides new opportunities to involve all countries’ emissions reduction in line with their Nationally Determined Contributions. This study analyzes Article 6 of the Agreement and negotiations on rules, procedures, and modalities about new global carbon pricing for reducing emissions and creating new financial resources.

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