Leading from behind

Rational planning demands a price on carbon

EU: €5 (~$7) per ton of CO2
California: $12 per ton of CO2
Shell's internal price: $40 per ton of CO2

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The trend is clear. So are the challenges. One key task is to de-risk capital investments to lower costs. This is where public climate finance must play its most critical role – not as charity, but as leverage.

25 Jul 26