A Transatlantic Dialogue: Carbon Pricing and the Energy Transition
15:00 - 16:30 CET // 09:00 - 10:30 ET
In person at the Wilson Center and Online
The climate crisis is one of the most pressing challenges of our time. Achieving our climate goals as well as mitigating and adapting to climate change require a global effort. The subnational level must form part of this effort. Cities, regions and states are increasingly critical to keeping international climate diplomacy alive.
This event, as part of the TCB Conference 2023: Multilevel Action for Transatlantic Climate Success, discussed opportunities and challenges of carbon pricing and its role in the energy transition.
In theory, carbon pricing promises an economically efficient means to the energy transformation. In practice, however, carbon pricing has faced multiple and significant hurdles to adoption. But momentum is building. In recent years, Europe and Canada have established robust pricing schemes. And while the U.S. lags on carbon pricing, the policies adopted by its trade partners will likely impact investment – nearly 40% of American imports come from nations with carbon prices expected to exceed USD$50 per ton in 2023. In October 2023, for example, the EU’s Carbon Border Adjustment Mechanism (CBAM) will begin its transitional phase, requiring importers of carbon intensive products to report greenhouse gas emissions embedded in their products, before the permanent systems takes hold in 2026, requiring importers to purchase CBAM certificates that account for their products’ embedded GHG. To successfully enable the green energy transition, policies must focus on ensuring that the emerging and diverse approaches to carbon pricing complement one another. Therefore, this session will discuss recent trends in carbon pricing and challenges for carbon pricing policies in Multilevel Governance.
- Jessica Green, Professor, University of Toronto
- Dagmara Koska, Deputy Head, Global Issues and Innovation and Counselor for Climate and Energy, Delegation of the EU to the US
- Barry Rabe, Former Public Policy Fellow; Arthur Thurnau Professor of Environmental Policy and the J. Ira and Nicki Harris Family Professor at the Gerald R. Ford School of Public Policy at the University of Michigan
- Stefano De Clara, Head of Secretariat, International Carbon Action Partnership
- Sara Schondhardt, Reporter, E&E News (Moderator)