ICC Carbon Pricing Principles
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The momentum for climate action continues to grow. The wave of recent countries’ climate commitments and pledges signifies a promising new alignment of ambitions and actions to face the climate crisis and ensure an inclusive, just and resilient recovery. Similarly, corporate net zero pledges represent increased ambition in voluntary commitments.
In order to reach net zero emissions by 2050 and hold the global temperature rise to 1.5°C above pre-industrial levels– in line with the latest and leading available science—the total annual required investments in the energy sector alone will need to more than triple by 2030.
ICC strongly supports the use of market-based approaches and the successful implementation of a new phase of emissions trading under Article 6 of the Paris Agreement—an essential part of international climate policy, reflecting the global challenge of ambitious mitigation action. We recognise that carbon pricing mechanisms will play an instrumental role in achieving the goals of the Paris Agreement.