Carbon Price Support

A policy mechanism that sets a minimum price for carbon emissions within a carbon pricing system, such as a cap-and-trade program or a carbon tax. The CPS ensures that the price of emitting carbon remains high enough to encourage businesses and industries to reduce their greenhouse gas emissions by making cleaner alternatives more economically attractive. It serves as a complementary measure to existing carbon pricing schemes, providing additional financial incentives to lower emissions and support the transition to a low-carbon economy.