Issue 13: December 1, 2022

International Cooperation

At COP27, Canada announced the Global Carbon Pricing Challenge, which "calls on all countries to adopt pollution pricing as a central part of their climate strategies." The goal is to increase coverage of global greenhouse gas (GHG) emissions covered by carbon pricing to 60% from the current 20% by 2030 by sharing best practices and new carbon pricing measures and promoting additional participation in the Challenge. The UK signaled its intent to participate in the Challenge at the conference.

Regulation

On November 10, the Biden Administration proposed a major new rule aimed at addressing the Federal government's exposure to climate-related financial risks in its supply chains. The proposed rule would require "major" and "significant" Federal contractors to publicly disclose their greenhouse gas (GHG) emissions and climate-related financial risks and set science-based emissions reduction targets. Interested parties have until January