Mark Carney at COP26: Countries should have a carbon price

Every country should try to have a “price on carbon”, the UK prime minister’s finance adviser for COP26 has said.

The former Bank of England governor, Mark Carney, told the BBC’s Christian Fraser that although a global carbon price would be the best option, carbon taxes would probably have to be related to a country’s resources.

Measures could be put in place to stop so-called carbon leakage where companies relocated to countries with lower carbon prices, he said.

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The COP26 global climate summit in Glasgow in November is seen as crucial if climate change is to be brought under control. Almost 200 countries are being asked for their plans to cut emissions, and it could lead to major changes to our everyday lives.