Contact: Katie Kouchakji, press@ieta.org

NEW YORK, 22 April - Commenting on the signing of the Paris Agreement today, IETA's CEO and President Dirk Forrister says:

"Today’s signing of the Paris Agreement by 170 countries is truly historic. It marks the first step to taking the deal forward. To realize its full potential, policymakers and businesses need to join forces in advancing carbon markets that can provide pricing signals to stimulate innovation and accelerate action. With good rules under article 6, they can enable countries to expand their markets through international linkages. 

Recent analysis by IETA and EDF found that 90 governments need access to markets to achieve their nationally determined reduction targets. Yesterday, we heard the leaders on the Carbon Pricing Panel set out ambitious – and achievable– goals to expand the coverage of carbon pricing. 

It's time to build on the momentum of today's signing. Climate change is not slowing down, and the longer we delay action, the more costly it will be. Market mechanisms can help to significantly cut the costs of action, while achieving the desired emissions reductions quicker than other policy options."