En+ Group has welcomed the launch of a crucial new report by the Carbon Pricing Leadership Coalition (CPLC), which sets out the potential of carbon pricing policies in accelerating the global transition towards net zero.
En+ Group, (the "Company", "En+ Group" or "the Group") (LSE: ENPL; MOEX: ENPG), the world's largest producer of low-carbon aluminium and independent hydropower, has welcomed the launch of a crucial new report by the Carbon Pricing Leadership Coalition (CPLC), which sets out the potential of carbon pricing policies in accelerating the global transition towards net zero. Prepared by the CPLC’s Task Force on Net Zero Goals and Carbon Pricing, the report demonstrates the importance of carbon pricing in discussions at COP26.
CPLC is a green initiative by the World Bank Group, working to ensure that carbon pricing is effectively implemented globally.
The report is a call to action for governments, businesses and civil society to seize the opportunity to drive credible climate action to achieve net zero by 2050, ensuring that it does so in a socially fair and just way.
In particular, the report emphasises:
· The need for urgent emissions reductions and investments in carbon removals;
· The important role of carbon pricing, as part of a suite of policies, to drive high impact emission reductions and leverage transformation investment; and
· The need for net zero strategies to be transparent, ambitious, inclusive, and aligned with social and economic development objectives, to ensure credibility and public support.
In the foreword of the report, Lord Barker, Executive Chairman of En+ Group, and Co-Chair of the Carbon Pricing Leadership Coalition, said: “Carbon pricing can provide drivers for positive change even in hard-to-abate sectors where rapid emission reductions will be more challenging, mitigation technologies are not yet commercially available, electrification or fuel switching is not feasible, or emissions are diffuse… Huge challenges demand a commensurate response. We won’t defeat climate change by tinkering with the status quo. It’s time to press the reset button and put in place credible and effective strategies that will enable economies and companies around the world to get to net zero by mid-century”.
EN+ Group recently published its Pathway to Net Zero Report, which provides in comprehensive detail the initiatives being undertaken across the Group to achieve its sector-beating climate targets announced in January of this year.