How Is KR 7.3 Tracking?
Most countries have yet to impose and enforce a national price on emissions. This allows businesses to pollute without consequence.
To incentivize and accelerate emissions cuts, our Carbon Price key result calls for each country to place a nationwide fee on planet-warming emissions. A substantial carbon price, increasing over time, would make fossil fuel energy less and less competitive with green alternatives.
Implementation would vary from country to country, with developed nations setting a minimum price of $55 per ton, increasing 5 percent annually. Developing nations could set lower prices to start.
Incentives to use alternatives to fossil fuels are unevenly applied and administered: