Wood Mackenzie: Significant Increase in Carbon Pricing Needed

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Carbon removal could become a trillion-dollar industry

Wood Mackenzie’s latest scenario report reveals that a significant increase in carbon pricing is needed to achieve the goals of limiting the rise in global temperatures to within 1.5 degrees Celsius. The report looks at Wood Mackenzie’s assessment of what it would take to reach the most ambitious goals of the Paris Agreement (refer to Note). Global average temperatures are already 1.2 degrees C above pre-industrial levels; limiting the increase to 1.5 degrees C would be unachievable without rapid and sustained action. Carbon removal is imperative in a net-zero world. Wood Mackenzie Asia Pacific Head of Markets and Transitions, Prakash Sharma, said: “To be on a 1.5-degree pathway, carbon... ... More: Official Press Release Wood Mackenzie

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