All countries should try to have a “price for carbon”, said the UK prime minister’s financial adviser for COP26.
Former Bank of England Governor Mark Carney told the BBC’s Christian Fraser that while a global carbon price would be the best option, carbon taxes would likely have to be related to a country’s resources.
Measures could be put in place to stop the so-called carbon leakage where companies relocate to countries with lower carbon prices, he said.
More about the climate summit:
The COP26 global climate summit in Glasgow in November is seen as crucial if climate change is to be controlled. Almost 200 countries are being asked about their plans to reduce emissions, which could lead to major changes in our daily lives.