Carbon Pricing - the Future of Market-Oriented Mechanisms

The event series "NRW Climate Lounge" offers events alongside COP23 on nine weekdays from 5 – 7 p.m. Before introducing the topic of the day, the Wuppertal Institute will present the daily update on the current official negotiations at COP23.

During the next event, background information regarding carbon pricing will be disclosed, its desired effects will be outlined and the various forms of carbon pricing that are currently being implemented and planned worldwide will be reported.

After the adoption of the Paris Agreement with its very ambitious objectives, the question is now which mechanisms will ensure global climate protection. This involves not only effectiveness, but above all it requires an efficient implementation. This explains the growing interest worldwide in instruments and concepts to put a price on carbon. Instruments like emissions trading or taxes and fees leave it up to the emitter as to whether, when and how they will become active or if they will buy additional certificates from other emitters or pay a price. Through this method, individual economic decisions optimise the burden on the economy as a whole. Instruments that put economic incentives into action can optimise costs. Given these factors, "more for less!" has become the international motto for this mechanism.

Moderator: Franzjosef Schafhausen, Former Director-General at the Federal Ministry for the Environment, Nature Conservation, Building & Nuclear Safety (BMUB) in the areas of Climate Policy, European and International Policy until 2016

Speakers include:

• Wolfgang Obergassel, Research Group Energy, Transport and Climate Policy, Wuppertal Institute – Update on the ongoing negotiations at COP23
• Dr. Brigitte Knopf, General Secretary, Mercator Research Institute on Global Commons and Climate Change/PIK
• Heribert Hauck, Head of Energy Affairs, TRIMET Aluminium SE
• Aki Karci, carbon market watch

However the outcome of this year's COP, our scientists will report. Stay tuned: #MakingParisPossible

UN accreditation is not required for the event series. Additional dates for the event series and COP23 can be found at the following links.