“Well-designed carbon pricing instruments can be a transformative part of the climate action toolkit. Over half of countries worldwide are thinking about how carbon pricing can help them meet their climate targets”, said Laura Tuck, Vice President of Sustainable Development, World Bank.

The largest-ever group of investors has called on governments to phase out thermal coal power worldwide, put a price on carbon, end subsidies for fossil fuels, and strengthen nationally-determined contributions. The 631 institutional investors managing more than USD37 trillion in assets urged governments to step up efforts to tackle the global climate crisis and achieve the goals of the Paris Agreement, in a joint statement issued yesterday at the United Nations COP25 climate summit.

Under this option, EU importers of steel, aluminum and other products with high carbon footprints would have to buy carbon allowances, as EU producers do under the EU Emissions Trading System.

recent reports from the Intergovernmental Panel on Climate Change (IPCC), the International Energy Agency (IEA), and the World Energy Council have all highlighted nuclear power's role in the energy transition;

A new report by researchers at the Massachusetts Institute of Technology examined various scenarios for the decarbonization of the nation’s electricity sector. The MIT researcher’s simulations showed that availability of nuclear powered generation would help reduce the needed carbon price by up to 67 percent (to less than $40 per ton) in meeting a 90-percent reduction target (below 2005 levels) by 2050.

To limit global temperature rise to the necessary 1.5 degrees by the end of this century, we must reduce emissions by 45 per cent from 2010 levels by 2030, and we must achieve climate neutrality by 2050.

Nuclear power provides about 10% of the world’s electricity and contributes one third of all low-carbon electricity.

The essential role of natural gas in the attainment of UN Sustainable Development Goals, in particular Goal 7, as an environmentally friendly, affordable, reliable, accessible and flexible natural resource for ensuring economic development and social progress

“Since coal is still a major resource, we will continue to rely on coal when we need it - and right now for instance, the economy is slowing and renewables are still relatively weak,” said Lin Boqiang, dean of the China Institute for Energy Policy Studies.

“We don’t have a moment to waste any more on fighting climate change,” von der Leyen told the assembly shortly before the vote in a speech delivered in English, French and German. “It will need massive investment.”