While negotiations remain stalled, the private sector is advancing discussions and seeking practical solutions to limit temperatures to 2°C. Last night was reserved for the discussion of carbon pricing. An important topic on the agenda! At a dinner hosted by CEBDS, CDP, CNI, and Ethos, the topic was well addressed by World Bank representative Thomas Kerr and those present. Countries, states, and companies are already adopting carbon pricing (whether market or tax) in their operations.

Carbon pricing is an important measure for internalizing the negative externalities arising primarily from the use of fossil fuels. However, it can result in a loss of economic competitiveness in the productive sector, affecting countries' economic growth and development. Therefore, it is an important topic that deserves close attention and discussion, with broad participation from all market players.

Thomas highlighted the results achieved with the action carried out in September of this year at the Climate Summit, when the World Bank sought the support of companies, governments, and civil society in the declaration for carbon pricing. CEBDS supported the document along with more than 200 companies, the vast majority of which were multinationals. The World Bank expects to increase this number by the end of 2015.

Brazil has not yet expressed its views on this issue. The Brazilian government's position is that it is still too early to discuss market mechanisms while we are still defining the text of the new climate agreement. Market instruments should only be discussed after the Paris Agreement is signed in 2015. In the years leading up to its entry into force, market mechanisms should be discussed.

Regardless of the Brazilian government's official position, it's important to monitor, discuss, and better prepare for the ongoing changes. Pricing may be inevitable, and therefore, we must demystify it, seek opportunities in this process, and advance the climate agenda.