Here are five priorities countries should embed in their climate plans to promote fair transitions. These recommendations will be further developed in an upcoming WRI paper that highlights building blocks and untapped opportunities for social equity in climate action.

The government sources said the carbon price would now increase annually, hitting 55 euros in 2025.

Brent crude oil spot prices averaged $63 per barrel (b) in November, up $3/b from October. EIA forecasts Brent spot prices will average $61/b in 2020, down from a 2019 average of $64/b. EIA forecasts that West Texas Intermediate (WTI) prices will average $5.50/b less than Brent prices in 2020. EIA expects crude oil prices will be lower on average in 2020 than in 2019 because of forecast rising global oil inventories, particularly in the first half of next year.

“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.