President of the European Bank for Reconstruction and Development Odile Renaud-Basso will have a simple message for world leaders when she joins them for next month’s COP26 climate summit: Embrace carbon pricing. Charged with promoting a green recovery from the Covid-19 recession in the 37 nations where it operates, the EBRD knows the strain that carbon-cutting policies can place on emerging economies. But it’s also a firm believer in the value of carbon markets. Without that mechanism for reflecting the costs of carbon emissions in the prices of products, “you have a distorted market and it is much more difficult to ... (full story)