The FASTER Principles for Successful Carbon Pricing

The case for climate action has never
been stronger. Current weather extremes, including storms,
floods and drought, affect millions of people across the
world. Climate change is putting water security at risk;
threatening agricultural and other supply chains as well as
many coastal cities. The likelihood of severe pervasive and
irreversible impacts will grow without action to limit and
reverse the growth of GHG emissions globally. Last year’s
Intergovernmental Panel on Climate Change (IPCC) report
makes clear the overwhelming need to take action now on
climate change and that the costs of inaction will only
rise. The challenge is to decarbonize our economies by 2100
with action in the next decades being critical. The choices
made by government, the private sector, and civil society as
part of the transition to a decarbonized economy will
determine the extent of future climate impacts but also
provide an opportunity to unlock investment and build an
innovative, dynamic low-carbon economy.