PLATTS: 100--COP30: EU, China, UK back Brazil-led carbon pricing coalition

Brazil has launched a global coalition on compliance carbon markets, endorsed by 10 major economies including the EU, China, and the UK, ahead of the UN Climate Change Conference. The coalition aims to enhance carbon pricing mechanisms and interoperability among emissions trading systems, promoting decarbonization. Currently, 80 countries have carbon pricing systems, covering 28% of global emissions. However, carbon pricing adoption has been slow, with significant price disparities between countries, such as the EU's carbon permits being 13 times more expensive than China's compliance prices.