亚开行-绿色复苏和增长的碳定价（英）-2021.11-51页_1mb

Summary of "Carbon Pricing for Green Recovery and Growth"

Core Content

This document, published by the Asian Development Bank (ADB) in November 2021, explores the role of carbon pricing in supporting a green recovery and growth following the economic disruption caused by the COVID-19 pandemic. It emphasizes the importance of integrating carbon pricing into national climate strategies to ensure that recovery efforts align with global climate goals, particularly the Paris Agreement's net-zero targets.

Main Points

• Climate and Economic Challenges: The Asia and Pacific region is highly vulnerable to climate change and is experiencing increased frequency and intensity of extreme weather events. The pandemic has led to a temporary drop in emissions, but they are rising again, highlighting the need for a green recovery to avoid locking economies into high-carbon pathways.

• Carbon Pricing as a Tool: Carbon pricing, including carbon taxes and emissions trading systems (ETS), is a key instrument for internalizing the cost of greenhouse gas (GHG) emissions and promoting low-carbon development. It can support economic recovery by generating revenue and encouraging sustainable investments.

• Green Recovery Benefits: A green recovery offers long-term economic and environmental advantages. It can lead to more and better jobs, scale up capital investments, accelerate climate resilience, and protect natural capital. Additionally, it provides co-benefits such as improved public health and reduced local pollution impacts.

• Global and Regional Trends: Carbon pricing instruments have expanded globally, covering about 21.5% of global GHG emissions in 2021, compared to 5% in 2009. In the Asia and Pacific region, six national carbon pricing initiatives are already in place, with more countries considering their adoption.

• Role of ADB: The ADB supports developing member countries (DMCs) in implementing carbon pricing through technical assistance, capacity building, and the Article 6 Support Facility. This initiative aims to enhance the use of domestic, bilateral, and international carbon markets to achieve climate goals.

• Design Considerations: Carbon pricing should be designed to avoid hindering economic growth, especially during a recession. A gradual and phased approach, starting with a low carbon price and increasing over time, is recommended. Revenue from carbon pricing should be directed toward climate action and green investments rather than general spending.

• International Cooperation: The Paris Agreement's Article 6 offers opportunities for international cooperation, including the use of international offset mechanisms. This can be leveraged to scale up climate finance and support green recovery.

• Communication Strategy: Effective communication of carbon pricing is essential, especially during a green recovery. Highlighting the benefits, gradual implementation, and government support can help gain public and stakeholder acceptance.

Key Information

• Carbon Pricing Instruments: Include carbon taxes, ETS, and international offset mechanisms.
• ADB's Role: ADB has committed to increasing climate financing to $100 billion from 2019-2030 and is actively supporting the integration of carbon pricing into national climate strategies.
• Current Status: As of July 2021, 64 carbon pricing instruments are in operation globally, with six in the Asia and Pacific region.
• Green Recovery Rationale: ADB outlines a fourfold rationale for green recovery, focusing on job creation, capital mobilization, climate resilience, and environmental protection.
• Fiscal Space: Carbon pricing can generate revenue that supports green recovery and helps create fiscal space for investment in sustainable development.
• Net-Zero Pathways: Carbon pricing is crucial for achieving long-term net-zero emissions, requiring a clear price signal and a framework for revenue use.

Conclusion

Carbon pricing is a vital policy tool for achieving a green recovery and long-term low-carbon growth. It supports economic resilience, fosters sustainable investment, and aligns recovery efforts with global climate goals. The ADB encourages its DMCs to adopt well-designed carbon pricing mechanisms to ensure a just and effective transition to a low-carbon economy.