ALTHOUGH low carbon prices can be beneficial – especially when carbon pricing instruments are implemented with sufficient time for market participants to learn and adapt. It is difficult to justify current price levels in developed Asia-Pacific markets such as South Korea and Japan. a new report shows. It takes into account how far they lag behind equivalent systems in the European Union (EU), the United Kingdom, the United States and Canada. Low carbon prices have the potential to dampen decarbonization efforts because they can discourage investment in renewable energy and energy efficiency, according to a May 9 report from BMI, the financial research arm of Fitch Solutions. While estimates of appropriate carbon price levels vary, the report cited the International Monetary Fund's argument for carbon prices to rise to $75 per tonne of carbon dioxide equivalent by 2030 for developed markets. For emerging markets, prices would range between $25 and $50 per ton. (Janice Limová)