Alexis L. Leroy provides an overview of mechanisms for setting carbon prices at the 3rd gathering of the Parliamentary Network on Climate Change
Alexis L. Leroy, CEO and Founder of ALLCOT Group, participated in representation of IETA as a panelist in the 3rd gathering of the Parliamentary Network on Climate Change entitled Fostering Climate Action in the Americas and the Caribbean: The Role of Parliaments within the Climate Agenda, which took place in Panama City, organized by ParlAmericas and Parlatino.
Mr. Leroy participated as a panelist in session 4, “Carbon Pricing in the Americas and the Caribbean” and he provided an overview of mechanisms for setting carbon prices in the region and various successful cases.
He explained that carbon pricing is the mechanism designed to capture the external costs of emissions of greenhouse gases (GHG). The price on carbon assigns responsibility for emissions on the emitter and provides an economic incentive to shift towards more clean energy.
Later, he spoke about the emissions trading systems and the benefits of the emissions trading EU ETS. For example, he explained that funds raised by EU ETS €11.7 billion and EU emissions were reduced by 23% during the period 1990-2016, while economy grew by 53% over same period. Also, he commentated on Paris Declaration on Carbon Pricing in the Americas, the most important points of Paris Agreement and the desired COP24 outcomes.
The session finished with central debates of the international negotiations, highlighting the role of national parliaments to assure new economic opportunities for all national stakeholders.