Investors managing $10.6 trillion on Wednesday said an overhaul of international carbon pricing policies was necessary to prevent the world missing a goal to limit climate change.
As part of a global effort to cap global warming at 1.5 degrees Celsius (2.7 Fahrenheit) above the pre-industrial average, more governments are seeking to place a price on carbon to lower emissions by increasing the cost of producing them.
But less than 25% of global emissions are covered by a carbon price whose level varies greatly between regions and is mostly too low to effect change.
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First Published: Jun 22 2022 | 12:13 PM IST