An increasing number of middle income countries are in the process of introducing carbon pricing and other innovative instruments to reduce greenhouse gas emissions cost effectively. While there is a growing box of policy options and instruments that countries can draw from to shift toward a low carbon pathway, tailoring these to each country’s unique circumstances and development priorities is a challenge. The PMR is one of the key platforms designed to specifically help countries prepare for such policy choices and future implementation, by focusing on improving technical and institutional "readiness.”

Pricing carbon through instruments such as emissions trading and carbon taxes is one of the cost-effective means to achieving emissions reduction. For this reason, a number of governments are incorporating carbon pricing policies into their mitigation strategies. The PMR is committed to helping countries design and implement carbon pricing instruments, including emissions trading systems, carbon taxes, and crediting and offset mechanisms.

Establishing of post-2020 mitigation scenarios and identifying of packages of effective and cost-efficient policies—including carbon pricing instruments—to achieve climate change mitigation.

Promoting of good practice and facilitating of efforts to establish common standards and approaches for greenhouse gas mitigation.

Providing a platform for countries to focus on sharing technical knowledge and experience in order to facilitate the design and implementation of innovative instruments to ramp-up greenhouse gas mitigation.

Phase 1 01.01.2011 - 31.12.2020   (Completed)