Certain aspects of carbon pricing and its peculiarities

Abstract

In a situation when the climate on the planet continues to change catastrophically, and the consequences of this change can only be prevented by the rapid joint efforts of the global community, the role of instruments of carbon regulation and their harmonization increases significantly. Among the most important such instruments are carbon pricing instruments and the carbon price that they form. This paper is the first part of an extensive theoretical research of acute issues of carbon pricing on the international and national levels. It compares and analyzes different approaches to the list and elements of carbon pricing instruments, critically analyzes various approaches to the classification of such instruments developed in foreign jurisdictions, and for the first time formulates universal principles on which the carbon price should be based. The author emphasizes the need for a conservative approach to defining carbon pricing mechanisms and carbon price, as well as the importance of distinguishing between carbon pricing instruments and other mechanisms for incentivizing greenhouse gas emissions reduction.