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Climate Change

Pension Fund CEO: Pricing Carbon Fixes a Market Failure

Philippe Desfossés's picture
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Philippe Desfossés is the CEO of ERAFP, the French Public Service Additional Pension Scheme. He spoke about carbon pricing from an investor's perspective.

“I support putting a price on carbon because it fixes a market failure. Without carbon pricing, the market has no way to address the costs associated carbon emissions. These costs end up being born by everyone, including companies and societies.

Monday After Climate Week

Rachel Kyte's picture

 Connect4Climate


Sitting on the train heading back from New York to Washington D.C., gazing out of the window at stressed watersheds, I had some time to reflect on a very special Climate Week. What does it all add up to? Where does it leave us as a global community needing speed and scale in our climate action?

Much is being written. Let me add a perspective. Here are three thoughts amid my swirl of memories, moments and impressions.

Climate osmosis – the street reaches the hallowed halls

It was difficult to stand in the canyon that is 6th Avenue, with a sea of people stretching in both directions – environmental activists, nurses, pensioners, business people, every possible faith community, moms, a sprinkling of celebrity and a dash of statesmen – and not be moved. On the Sunday before the Summit, more than half a million people took to the streets in People’s Climate Marches in New York and more than 160 countries across the globe. The marchers demanded climate action from their leaders, suggesting that the politics of climate action, once considered too hard to handle, might no longer be as difficult as leaders think.

The reverberations continued for 48 hours and became a point of reference in almost every speech at the UN Secretary-General’s Climate Leadership Summit. More than 120 heads of state and government came to hint and in some cases pledge action on climate change. New coalitions of governments, businesses, investors, multilateral development banks and civil society groups announced plans to mobilize over $200 billion for low-carbon, climate-resilient development. Forests and cities were big winners, landing pledges of around $450 million for forests and bringing together more than 2,000 cities in a new Compact of Mayors to help improve accounting of urban greenhouse gas emissions and the actions cities are taking to reduce them.

Merkel: We Support a Price on Carbon – Growth & Climate Protection Can Go Hand in Hand

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In a video shown at the UN Climate Leadership Summit on Sept. 23, 2014, German Chancellor Angela Merkel talks about her country's support for carbon pricing and how it can drive low-carbon growth. 

Fred Krupp: Emissions Trading Limits Carbon Pollution & Harnesses the Power of the Marketplace

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Fred Krupp is the president of the Environmental Defense Fund, one of several civil society organizations supporting a price on carbon. He spoke ahead of the UN Secretary-General's Climate Leadership Summit about how a price on carbon could bring shared propserity and economic growth.

Carbon Pricing Helps Investors Assess Investment Prospects for the Future

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Frank Pegan is the CEO of Catholic Super, an Australian superannuation fund currently managing AU$5.21 billion. He spoke ahead of the UN Climate Leadership Summit about the value of carbon pricing for investors.

British Columbia Premier: You Can Grow the Economy & Protect the Environment

Christy Clark's picture
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Christy Clark is the premier of British Columbia, which has had a revenue-neutral carbon tax since 2008. She spoke ahead of the UN Secretary-General's Climate Leadership Summit about the impact of carbon pricing on the economy.

Gov. Brown: CO2 Emissions Already Carry a Cost – to Public Health, Economy & Climate

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Jerry Brown is the governor of California. He spoke ahead of the UN Secretary-General's Climate Leadership Summit about politics and the value of his state's emissions trading system in building a healthier, cleaner future. The state's economy is growing, and its climate work is setting a pace for the nation.

Electricity CEO: Carbon Pricing Is Necessary to Ensure Long-Term Investments Support a Low-Carbon Future

Henri Proglio's picture
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Henri Proglio is the chairman and CEO of Électricité de France (EDF). He spoke ahead of the UN Secretary-General's Climate Leadership Summit about the importance of carbon pricing for the electricity sector to move toward a low-carbon economy.

Energy CEO: California Shows How Carbon Pricing Can Reduce Emissions Efficiently & Cost Effectively

Anthony Earley's picture
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Anthony Earley is the chairman and CEO of PG&E Corporation, the parent company of Pacific Gas and Electric. He spoke ahead of the UN Secretary-General's Climate Leadership Summit about the importance of California's climate policies and carbon pricing in encouraging a shift to clean energy solutions. 

Carbon Taxes and Investment in Public Transport

Stéphane Hallegatte's picture

Economists often recommend fuel taxes to curb greenhouse gas emissions from automobiles in cities. But the effectiveness of these taxes depends heavily on other factors, like the availability of public transportation, and the density of a city. In the following podcast interview, I discuss my paper, co-authored with Paolo Avner and Jun Rentschler, and explain why taxes are twice as effective when accompanied by an investment in public transport. Please listen in.


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