Adopted in November 2021 at COP26 in Glasgow, the Glasgow Declaration on Carbon Pricing in the Americas brings together states and governments committed to advancing carbon pricing as a central instrument for climate action. It builds on earlier regional cooperation efforts and reinforces alignment with the Paris Agreement.
The declaration recognizes climate change as a shared global challenge requiring coordinated responses across all levels of government. It reaffirms the commitment of participating jurisdictions to pursue carbon neutrality by 2050 or earlier, in line with the goal of limiting global warming to 1.5°C.
A key focus of the declaration is the importance of carbon pricing instruments, including emissions trading systems and carbon taxes, as tools to reduce greenhouse gas emissions, drive innovation, and support low-carbon economic development. It highlights their role in enabling fiscal reform and encouraging clean technology adoption.
The text also emphasizes the need for strong measurement, reporting, and verification (MRV) systems to ensure environmental integrity and enable the development of linked and compatible carbon markets. Cooperation across jurisdictions is encouraged to improve market efficiency, reduce risks of carbon leakage, and enhance predictability for market participants.
Finally, the declaration underscores the importance of voluntary international cooperation under Article 6 of the Paris Agreement, supporting the development of robust and transparent carbon markets across the Americas.
Overall, it signals a shared regional commitment to scaling up carbon pricing and strengthening carbon market cooperation.