Carbon Prices now Apply to Over a Fifth of Global Greenhouse Gases

Carbon pricing generated $53 billion in revenue in 2020-21, but despite progress, carbon pricing efforts are not on track to meet Paris Agreement goals, new World Bank report finds

WASHINGTON, May 25, 2021 A total of 64 carbon pricing instruments are now in operation around the world, covering over 20% of global greenhouse gas emissions and generating $53 billion in revenue. According to the World Bank’s annual “State and Trends of Carbon Pricing” report released today, these advances represent a 17% increase in revenue from last year, However the full potential of carbon pricing remains largely untapped.

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