Carbon pricing has emerged as a key mechanism to reduce greenhouse gas (GHG) emissions, which means that private and public stakeholders are seeking an informed view of how carbon-related price signals can drive global emissions reductions in line with these goals. In 2017, CDP and the We Mean Business Coalition launched the Carbon Pricing Corridors initiative with the aim of enabling large market players to define the carbon prices needed for industry to meet the goals of the Paris Agreement. Many companies and financial institutions are already adapting to this new paradigm by assessing risk within a 2°C constraint and seeking low-carbon opportunities.
The inaugural report was published in May 2017 with a focus on the power sector, considered by some as the foundation of the low-carbon transition. This new report, Carbon Pricing Corridors: The market view 2018, features an update on the power sector a year following the initial inquiry process and a new Corridor for the chemical sector.
Our world economy is only 9.1% circular, leaving a massive ‘Circularity Gap’. This alarming statistic is the main output of this first Circularity Gap Report, in which we launch a metric for the circular state of the planet. Taking the United Nations’ Emissions Gap Report as inspiration, the Circularity Gap Report provides a framework and fact-base to measure and monitor progress in bridging the gap, year on year. Being able to track and target performance via the Global Circularity Metric will help the global community engage in uniform goal-setting and guide future action in the most impactful way.
The report outlines four steps to take action in bridging the circularity gap:
