Countries, Companies Mobilize on Carbon Pricing Ahead Of U.N. Summit

"The World Bank said Monday that 73 national and 11 regional governments and some 1,000 companies will join forces to push for policies setting a price on carbon emissions to encourage a shift to cleaner energy technologies.

The announcement aims to build momentum for a high-profile UN summit on climate change on Tuesday that Secretary General Ban Ki-moon hopes will mobilize governments and the private sector to make "bold commitments" to address climate change.

The World Bank and United Nations have been strong advocates for policies that shift the responsibility to polluters to pay for carbon emissions.

Big emitters such as China and EU countries joined growing economies and some of the least developed nations to form the Carbon Pricing Leadership Coalition, the World Bank announced, an effort to encourage countries to adopt measures such as carbon taxes or cap-and-trade systems to drive a reduction in carbon emissions across the world."

Valerie Volcovici reports for Reuters September 23, 2014.

SEE ALSO:

"World Bank Backs Carbon Pricing, Convenes Leadership Coalition" (ENS)

"Climate Activists Look For Solutions From Business, Diplomats" (NPR)

"Calderon: End Fossil Fuel Subsidies, Create Carbon Tax" (NPR)

"Clash of the (Corporate) Titans" (Daily Climate)

"EU Funds Sustainable Energy: First in Africa, Next, the World" (ENS)