The Commission supports the development of carbon pricing worldwide. With the expected introduction of a Chinese National Emissions Trading System by the end of the year, momentum is growing.
The Paris Agreement has contributed to an increased interest in cost effective instruments to deliver on current and future mitigation commitments in line with longer term objectives. International fora could play a role in encouraging further development.
The Commission is also supporting developments in other countries through concrete bilateral and multilateral cooperation, e.g. bilaterally with China and South Korea, and through the World Bank initiative ‘Partnership for Market Readiness’, to which the EU and Commission are the major donors.