Carbon pricing to transform energy sector
Christiana Figueres of the UN at the Carbon Expo conference in Cologne. (Carbon Expo)
The historic Paris climate change agreement has triggered a shift towards carbon pricing and is transforming the energy sector, speakers at the Carbon Expo conference in Cologne said on Tuesday.
The direct effect of carbon pricing mechanisms such as energy taxes and emission trading schemes, in addition to the indirect impact on investor confidence in carbon-intensive industries, is transforming the business model of fossil fuel companies across the globe, said Christiana Figueres, the outgoing executive secretary of the UN Framework Convention on Climate Change.