Expressing Support for the Statement
What does it mean to express support for the statement on Putting a Price on Carbon?
Through the statement, to be launched at the United Nations Secretary-General’s Climate Summit in September 2014, countries and companies are announcing their support for a price on carbon, demonstrating leadership by taking action, and encouraging others to join them.
By expressing support, governments, companies and sub-national jurisdictions signal their belief that carbon pricing is a necessary step to tackle climate change in the months and years ahead.
Supporters will join a growing global coalition of first movers to put a price on carbon. The goal is for over 50 governments, national or sub-national, and hundreds of companies to stand up and be counted as supporters of this vital climate action.
Why do governments and businesses support putting a price on carbon?
Expressing support for putting a price on carbon allows nations, cities, and provincial/state governments to add their voices to their peers to show the growing global momentum toward incorporating the cost of carbon into resilient economic growth.
Governments can also showcase their leadership to the global community and inspire action by other governments as we seek to limit climate change to preserve global prosperity.
Business and government need to support one another in the climate policy arena. Governments need the insights and support of businesses to advance effective climate policy. Businesses need clarity and certainty from governments to invest and act on risks and opportunities in current and future markets. Expressing support demonstrates that business wants government to take action.
Expressing support for putting a price on carbon can be a powerful advocacy tool for companies to influence public policy development and trigger market readiness.
There is a growing body of evidence that putting a price on carbon makes good business sense. More than 100 companies have publicly disclosed that they already incorporate the cost of carbon into their capital decision-making processes. These companies cite the use of a carbon price as a planning tool to help identify revenue opportunities, risks, and as an incentive to drive maximum energy efficiencies to reduce costs and guide capital investment decisions.
How is the statement linked with other organizations and initiatives advocating for a price on carbon?
The statement on Putting a Price on Carbon is supported by a coalition of forward-looking business organizations and builds on previous communiqué sand commitments by uniting them under a common statement that is also supported by governments.
For example, in the lead up to the UN Secretary-General's Climate Summit, the United Nations Global Compact and selected partners in the Caring for Climate initiative are calling on companies to demonstrate leadership via Business Leadership Criteria in pricing the cost of carbon emissions as a necessary and effective measure to tackle climate change. The Prince of Wales’ Corporate Leaders Group on Climate Change’s Carbon Price Communiqué includes 150 companies that have asked for “a clear, transparent and robust price on carbon.” In 2011, the Brazilian group Instituto Ethos issued a similar statement leading up to the Rio +20 Summit.
The statement on Putting a Price on Carbon was drafted through an open and consultative process managed by the World Bank Group. The World Bank Group has consulted with partner countries, subnational governments, and business associations such as the UN Global Compact, the Prince of Wales’ Corporate Leaders Group, CDP, the International Emissions Trading Association and the World Business Council on Sustainable Development.
How can my organization express support?
The World Bank Group is not asking supporters to “sign” the statement, but rather to “express support.” Organizations can express support for the statement by sending an email from an authorized representative to the World Bank Group. The names of confirmed supporters will be added to the website and to related communications.
Supporters will be featured at the UN Secretary-General's Climate Summit in New York in September and are welcome to send quotes describing their efforts to advance and implement carbon pricing.
Officials interested in receiving more information, or to express support for the statement, may contact: Patrick Verkooijen (firstname.lastname@example.org) or Tom Kerr (email@example.com) at the World Bank Group. Business representatives may click here to fill out a form expressing their support.
More details, including background notes on public and private leadership in pricing carbon, can be found at: http://www.worldbank.org/en/programs/pricing-carbon