Startup Observer.com
  • Home
  • Industries
  • Innovation
  • outsourcing
  • Business
  • Finance
  • Headlines
  • Opinion
  • News
Home News REUTERS IMPACT-‘Please put a price on carbon’, says Europe’s biggest utility
News

REUTERS IMPACT-‘Please put a price on carbon’, says Europe’s biggest utility

by jcp October 5, 2021
October 5, 2021
gawdo

By Jon Harman and Stephen Jewkes

(Reuters) – Countries need to put a price on carbon to help the world cut greenhouse gas emissions and limit climate warming to agreed targets, the head of Europe’s biggest utility said on Tuesday.

“Please put a price on carbon,” Enel Chief Executive Francesco Starace said in an interview at the Reuters Impact conference.

Starace’s comments come less than four weeks before the U.N. COP26 climate talks in Scotland that aim to secure bolder action from the nearly 200 countries that signed the 2015 Paris Agreement to try to limit global warming to 1.5 Celsius.

He said the world was on track to overshoot 1.5C at the moment and it was important to see if larger economies, with their new and more focused efforts, would engage with the target at the COP26 talks, which start on Oct. 31.

“Put the price on carbon in your own territory … and then worry about how that carbon price relates to the other carbon prices,” Starace said. “But price it – because if you start with that then this will finally adjust.”

Carbon pricing is seen by many as key to encouraging emissions reductions and helping new, low-carbon technologies compete with established, more-polluting sources of energy.

A carbon cost can come in the form of a tax, via an emissions trading system (ETS), or so-called cap-and-trade schemes, but there has been much debate over the best system https://reut.rs/3DbDrzp to adopt.

A report by the World Bank in May said only a fifth of the world’s emissions were covered by a carbon price – and most of the prices were too low to achieve only a 2C increase in global temperatures, let alone 1.5C.

‘SYSTEM DOESN’T WORK’

On Saturday, U.S. Climate Envoy John Kerry said the world’s major economies must “stretch to do more” at the summit in Glasgow, Scotland.

Ahead of COP26, global business leaders and politicians are taking part in the Reuters Impact conference to discuss efforts to mitigate climate change and drive sustainable growth.

Enel, one of the world’s biggest green energy https://reut.rs/3a4X281 firms, aims to cut its carbon emissions by 80% by 2030, boosting its green capacity to 120 gigawatts (GW) from some 50 GW at the end June.

Starace said the energy transition was a front-loaded process that required companies to invest now for benefits in the long term.

But he said consumers still worked on a very short-term horizon, with governments tending to take a hands-off approach and trusting markets to adjust.

“That can’t be any more the case. We need to bring consumers into the story,” he said.

Starace said consumers needed to see the benefits of low-cost energy now by using long-term pricing deals.

He said governments and banks needed to adjust to this long-term horizon and implement the right regulations and policies so the market could adapt properly – and avoid the wild swings in energy prices that have plagued markets in recent weeks.

“The fluctuations and surprises we observe today are exactly a demonstration of this – they are short-term convulsions of a system that doesn’t work anymore.”

To watch the Reuters Impact conference please register here https://reutersevents.com/events/impact/

 

(Reporting by Jon Harman and Stephen Jewkes; Editing by David Clarke)

 

www.gawdo.com
Share on FacebookShare on TwitterShare on Linkedin
0 FacebookTwitterPinterestEmail
previous post
UK hospitals could struggle even if COVID deaths lower this winter – epidemiologist
next post
Sweden’s AB Volvo wins its largest electric truck order so far

You may also like

Open University to focus on societal challenges that...

June 23, 2022

Aramco and Cognite join forces in new data...

June 22, 2022

Sponsors Announced for Biggest Ever Summer School for...

June 20, 2022
Editorial & Advertiser disclosureEditorial & Advertiser disclosureOur website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.
gawdo.com
https://www.gawdo.com
  • About us
  • Advertising & Terms of Use
  • Contact Us
  • Privacy Policy

@2021 - All Right Reserved.


Back To Top
Startup Observer.com
  • Home
  • Industries
  • Innovation
  • outsourcing
  • Business
  • Finance
  • Headlines
  • Opinion
  • News
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT