What can the G20 do to prepare the road to COP26 and ensure functioning global carbon markets?

2020 is a crucial year for the fight against climate change. At the end of the year, presidents and heads of states will gather in Scotland to agree on plans to keep global greenhouse gas emissions within limits that allow to prevent dangerous climate change – a challenge that was left unresolved in the hallmark 2015 Paris climate agreement and in climate talks since then. Emissions cuts in all sectors of the economy will be required to achieve the necessary levels of emission cuts, as will smart policies and incentives to enables these cuts. What can the G20 to do inject dynamic and ambition into international climate talks? How can international coordination of carbon pricing systems, together with policies that enable a just zero carbon transition, increase the support for climate action and enable higher level of emission cuts? What is the contribution of a circular carbon economy to achieving Paris compatible emissions cuts? How should economic stimulus measures aimed at stabilising the world economy in the COVID 19 crisis be designed and implemented to support the transformation to zero carbon economies?