The Group of Thirty published its latest report, Carbon Pricing and Markets: Enabling Efficient Emission Reductions.
WASHINGTON, Sept. 17, 2025 /PRNewswire-PRWeb/ -- The Group of Thirty (G30) today published Carbon Pricing and Markets: Enabling Efficient Emission Reductions. The study, chaired by Lord Adair Turner, Chair of the Energy Transition Commission, reviews current carbon pricing schemes and carbon credit trading systems, and offers actionable recommendations along with a framework for international coordination to achieve net-zero emissions before climate risks become unmanageable.
The study examines the crucial role carbon pricing and markets can play in addressing climate change, especially in the context of rising global temperatures that exceeded 1.5°C above preindustrial levels in 2024. The report highlights how, despite growing consensus after the 2015 Paris Agreement, global progress has stalled, and emissions reductions remain insufficient. While an ideal solution would involve globally coordinated carbon pricing, most countries have relied instead on varied national strategies. The G30 Working Group evaluates the current shortcomings and argues for stronger deployment of carbon pricing, particularly in hard-to-abate sectors such as shipping, aviation, and heavy industry, alongside policies that promote cross-border cooperation and equity for developing countries.
The report offers several key recommendations to support global decarbonization goals, including implementing domestic carbon pricing or emissions trading schemes and, where coordination is lacking, using Carbon Border Adjustment Mechanisms (CBAMs). It also advocates for allocating revenue from carbon taxes and CBAMs to assist vulnerable low-income countries. In parallel, the report emphasizes the importance of scaling up carbon dioxide removal (CDR) through credible carbon credit markets. Companies should gradually transition toward removal-based credits while regulators ensure market integrity and provide clear standards. The report stresses that carbon pricing and credit markets are essential components of a broader climate strategy, and lessons from this approach can guide global efforts to achieve net-zero targets efficiently and equitably.
Lord Adair Turner, Chair of the G30 Working Group on Carbon Pricing and Markets, stated: "Without carbon pricing, we will not see decarbonization of the heavy industry and long distance transport sectors at the pace required to limit harmful climate change. But these sectors of the economy are extensively internationally traded. This report therefore highlights the international cooperation and coordination required if carbon pricing is to enable cost efficient decarbonization across the world."
John Colas, Project Advisor of the G30 Working Group on Carbon Pricing and Markets and Global Head of Climate and Sustainability at Oliver Wyman, stated: "To bend the curve on global emissions, it is imperative that we not only invest in carbon pricing but also amplify the role of carbon markets in driving substantial investments in carbon dioxide removal. As we navigate the complexities of climate policy, establishing a robust framework for carbon credits will be critical for mobilizing the necessary funding and ensuring that we scale carbon removal solutions effectively."
Adair Turner chaired the G30 Working Group on Carbon Pricing and Markets which included Steering Committee Members Maria Ramos, Ernesto Zedillo, and Zhou Xiaochuan, and Working Group Members Thomas Buberl, Roger Ferguson, Arminio Fraga, Helene Rey, Tharman Shanmugaratnam and Yi Gang. This project would not be possible without the support of Oliver Wyman, including Project Advisor, John Colas, and Project Directors Ayoub AbiRafeh, James Davies, and Amruta Kelkar. The Group also extends its gratitude to Anton Muellner-Oberst, who contributed greatly to the report.
To receive a copy of Carbon Pricing and Markets: Enabling Efficient Emission Reductions, please contact the G30 Press Officer Melissa Golding at +1 571-236-2820 or [email protected].
On September 17, 2025, at 9:00am EDT, the G30 hosted a live webinar discussion of the report with the project leadership team. A link to the event recording is available on the G30 website, www.group30.org.
The Group of Thirty is an independent global body comprised of economic and financial leaders from the public and private sectors and academia. It aims to deepen understanding of global economic and financial issues, to explore the international repercussions of decisions taken in the public and private sectors, and to examine the choices available to policymakers and market practitioners. The Group was established in 1978. The Chair of the Board of Trustees is Tharman Shanmugaratnam and the Chair of the Group is Raghuram G. Rajan. More information and membership bios are available at www.group30.org.
Media Contact
Desiree Maruca, Group of Thirty, 1 202-331-2472, [email protected], www.group30.org
SOURCE Group of Thirty
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