ABOUT THE GLOBAL CARBON
PRICING CHALLENGE
The Global Carbon Pricing Challenge (GCPC) was announced by Canada during COP26. Since then, the GCPC has grown into an international initiative, steered by a growing number of Partner and Friend jurisdictions.
The GCPC is led by an Advisory Committee of representatives from Partner countries and is currently chaired by Canada’s Ambassador for Climate Change, Catherine Stewart. Decisions of the Advisory Committee are informed by the analysis and advice of a Technical Working Group of global experts from Partners, Friends, and international organizations.
Countries around the world are taking action to reduce greenhouse gas emissions and fight climate change. More and more countries are pricing carbon pollution to cut emissions at low cost and spur clean innovation.
In simple terms, carbon pricing works because there is a financial incentive for people and businesses to pollute less. A price on carbon is transparent and sends a clear signal that carbon-intensive products and activities are costly. Industry and households can decide how best to cut their emissions at the lowest price and are encouraged to adopt these changes or solutions into their business operations and lifestyles.
Carbon pricing is most effective when more countries adopt it, as broader coverage means more opportunities to find clean solutions.
Through international cooperation, countries are raising the bar on climate ambition and signaling that it can no longer be free to pollute.
In order to reduce emissions, adopting carbon pricing can:
Align economic incentives with low-carbon objectives
Drive investment in clean innovation and technology
Encourage consumers and industries to become more efficient
INCLUSIVE COLLABORATION
The GCPC places special emphasis on supporting developing countries, recognizing the unique challenges they face in addressing climate change. Our commitment to inclusivity ensures that the benefits of global collaboration extend across diverse economies and circumstances, fostering cooperation towards accelerating the transition to a low-carbon future.