The Group of Thirty published Carbon Pricing and Markets: Enabling Efficient Emission Reductions, a study chaired by Lord Adair Turner that reviews existing carbon pricing schemes and carbon credit trading systems and sets out recommendations and a framework for international coordination to support cost-efficient progress toward net-zero emissions. The report argues that emissions reductions remain insufficient despite growing post-Paris Agreement consensus, noting that global temperatures exceeded 1.5°C above preindustrial levels in 2024. It recommends broader deployment of domestic carbon pricing or emissions trading schemes, especially for hard-to-abate, internationally traded sectors such as shipping, aviation, and heavy industry, and proposes using Carbon Border Adjustment Mechanisms where international coordination is lacking. It also calls for allocating revenue from carbon taxes and CBAMs to support vulnerable low-income countries, and for scaling carbon dioxide removal through credible carbon credit markets, with companies transitioning toward removal-based credits and regulators setting clear standards and ensuring market integrity.
G30 2025-09-17
Group of Thirty report calls for wider carbon pricing and CBAMs and for credible carbon removal credit markets
The Group of Thirty's study, chaired by Lord Adair Turner, reviews carbon pricing schemes and trading systems. It recommends expanding domestic carbon pricing or emissions trading, especially in hard-to-abate sectors, and suggests using Carbon Border Adjustment Mechanisms where coordination is lacking. The report advocates allocating revenue from carbon taxes to support low-income countries and scaling carbon dioxide removal through credible carbon credit markets.