🌍 The resolutions of discussions at the UNGA again point at the need for nations to adopt and implement carbon pricing mechanisms. As nations decide on their direct carbon pricing laws, carbon pricing is being indirectly introduced into fossil fuel, and mining projects in response to the demands of capital providers. Project developers may have to structure their projects to meet carbon pricing mechanisms in the laws guiding its capital providers even where the local laws of the project do not require this. This is the long arm reach of one nation’s carbon pricing laws to a project in another country. Is this a win?
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