What role for carbon prices as energy market turbulence continues?

Nov 10, 2022 | 1:00 PM - 2:00 PM


Governments across the OECD and in many developing and emerging economies have rolled out significant support to shield households and firms from the impacts of rising energy prices, often by cutting taxes on energy use in an attempt to limit escalating prices. The European Union is now considering to introducing a price cap on natural gas. These policy interventions have affected market prices strongly and can indirectly affect the efficacy of carbon prices in steering consumers and producers towards low carbon choices. What lessons can we learn from these recent policy responses? What impact have these policy responses had on investors’ expectations on carbon prices and energy prices in the future? How do businesses take into account taxes and permit prices in the current energy market context when evaluating how much to invest in low or zero carbon assets? The investments needed for the transition to net zero require stable policy settings, but policy must retain flexibility to respond to extraordinary events – climate policy experts and business will be sharing views on how to strike the right balance. The discussion will be guided by the results of a new OECD report, Pricing Greenhouse Gas Emissions: Turning Climate Targets into Climate Action (https://oe.cd/pGHG), which tracks governments’ evolving use of carbon pricing and energy taxation in recent years. Download the presentation by Jonas Teusch (OECD) on Pricing Greenhouse Gas Emissions: https://oe.cd/4Lb



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