| A proposal to have a global carbon trading mechanism or carbon tax and a “lean” negotiating draft by October saw India raising eyebrows at the St Petersberg Climate Dialogue that ended without meeting its objective of building a consensus on a draft for the Paris climate conference this winter.
Both German chancellor Angela Merkel and French president Francois Hollande spoke of carbon pricing -- based on the 'polluter pay' principle -- finding a place in the Paris agreement to encourage investments in cleaner technologies. “Devise new instruments to get more funds to encourage investments. There is a question of carbon pricing. We can build a world market for carbon,” Hollande said...............................................Full Article: Source |