Implementing carbon pricing mechanisms (CPMs) that impose fees on emissions in the power and industrial sectors can be a powerful tool to affect current production and consumption patterns. Under last year’s Sofia Declaration, Western Balkan countries pledged to align their climate change mitigation efforts with the EU targets and programs. Policy makers have declared pricing carbon to be one of the most important instruments in the effort to concretize political promises. However, the Western Balkan region has limited experience with carbon pricing initiatives – and only Albania and Montenegro have taken their first tentative steps so far. Daniel Muth has the details. Making environmental sustainability appealing in unlikely places In addition to the political commitment made in the Declaration, two prominent factors push the region towards employing CPMs in the near future. First, ascension to the European Union requires aspirant states to adopt the legislation and policies of this supranational body. Joining the European Union Emissions Trading System (EU ETS), the flagship climate policy of the bloc, will be required if non-EU member WB countries … Continue reading Prospects for carbon pricing adoption in the Western Balkans