Reducing greenhouse gas (GHG) emissions is critical to limit global warming and its deep social and environmental impacts. Accordingly, the 2015 Paris Agreement (UN 2015) calls for an ambitious goal for emissions reduction and removals by all parties, albeit recognizing the special circumstances of developing countries. In this context, carbon pricing and developing the associated market mechanisms are seen as a key driver to help countries and firms to move to a low-carbon development pathway. Driven by the recognition that climate risks are financial risks, policymakers, investors, and company managers in today’s evolving economic landscape have to integrate carbon accounting and disclosure practices into their core decision-making processes.