Carbon price levels a challenge in poorer nations

Prof Harald Winkler is the Director of the Energy Research Centre at UCT and a member of the commission on carbon prices led by Nobel Laureate Joseph Stiglitz and Lord Nicholas Stern.

Winkler says the commission was set up by the French ministry together with the World Bank and various other initiatives, because the Paris agreement in 2015 set many goals, including very importantly temperature goals.

(The aim was) to put temperature increase below two degrees.

Prof. Harald Winkler, Director of the Energy Research Centre at UCT

Winkler says the aim of the commission was to look at what carbon price level would be needed to be consistent with those temperature goals.

Meeting the world’s agreed climate goals in the most cost-effective way while fostering growth requires countries to set a strong carbon price, with the goal of reaching $40-$80 per ton of CO2 by 2020 and $50-100 per ton by 2030 explains Winkler.

Specific carbon price levels will need to be tailored to country conditions and policy choices.

Prof. Harald Winkler, Director of the Energy Research Centre at UCT

Winkler says carbon pricing makes sense in all countries, but low-income countries, which may be more challenged to protect the people vulnerable to the initial economic impacts, may decide to start pricing carbon at a lower level and gradually increase over time.

Listen to the rest of the interview here:

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