Ethiopia: Prime Minister Hailemariam Emphasizes the Importance of Carbon Pricing

At a high-level panel organized on the sidelines of the Climate Summit in Paris, Prime Minister Hailemariam emphasized that Ethiopia was promoting carbon pricing because of its interest in seeing climate change properly addressed since it is suffering from climate change and its impacts. It supported global initiatives and policy instruments that could help to reduce emissions; and carbon pricing was one such instrument.

The Prime Minister said "There is already unprecedented evidence that pricing can provide incentives and market signal efficient utilization, and production of energy and development of technologies in cost effective manner." Apart from stimulating reduction of carbon emission, pricing of carbon could potentially be a significant source of finance and technology for supporting climate actions in countries such as Ethiopia. He said Ethiopia had already initiated some pilot programs in carbon pricing. Another panelist, German Chancellor Angela Merkel, said carbon pricing was the right means to curb climate change, adding that "As more governments put a price on carbon, the more we will realize efficiencies and the more we create the right market incentives to catalyze the transition to low carbon economy".

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