Merkel, Hollande Call for Carbon Emission Taxes With World Bank, IMF

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Angela Merkel, French President François Hollande and heads of WB group and IMF urged the international community to impose taxes on carbon emission.

German Chancellor Angela Merkel, French President François Hollande and heads of the World Bank (WB) group and the International Monetary Fund (IMF) urged the international community to impose taxes on carbon emissions in a joint statement.

“There has never been a global movement to put a price on carbon at this level and with this degree of unison. It marks a turning point from the debate on the economic systems needed for low carbon growth to the implementation of policies and pricing mechanisms to deliver jobs, clean growth and prosperity,” WB President Jim Yong Kim said Monday.

The alliance to price carbon also includes leaders of Chile, the Philippines and Mexico, as well as the Ethiopian prime minister.

Some 40 nations have already implemented or were putting a price on carbon with programs and mechanisms covering about 12 percent of global greenhouse gas emissions, according to the statement.

The calls for a low-carbon global economy, which will help avoid global warming, come ahead of an upcoming November 30 to December 11 UN climate conference in Paris.

 

 

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