The State and Trends of Carbon Pricing series reflects on the growing momentum for carbon pricing worldwide. It targets public and private stakeholders engaged in carbon pricing design and implementation. This report provides an overview of existing and emerging carbon pricing instruments around the world, including regional, national and subnational initiatives. It also investigates trends surrounding the development of these instruments and how they could accelerate to deliver long-term mitigation goals. While the State and Trends is published annually, the carbon pricing dashboard provides up-to-date information on existing and emerging carbon pricing initiatives around the world. The dashboard is an online interactive platform that allows users to visualize, download and compare carbon pricing in different parts of the world. https://carbonpricingdashboard.worldbank.org
State and Trends of Carbon Pricing: International Carbon Markets
2023-12-08, World Bank
As developing nations grapple with the largefinancing needs required to achieve our climate goals, the urgency to mobilize sub stantial capital towards communities, nature, and broader developmental efforts is resoundingly clear. In this context, carbon markets, both under the Paris Agreement and the voluntary carbon market (VCM), can channel much-needed finance towards climate action. In all, 120 nations have considered the role of international carbon markets to support mitigation action and achievement of their nationally determined contribution (NDC) targets, and many corporations are seeking high-quality carbon credits to meet their voluntary climate commitments. Done right, carbon markets can help us get the resources we need now, at scale, and accelerate action by providing much needed source of finance. They can also encourage accelerated action to meet NDCs, providing financing needed to implement them. In its annual State and Trends of Carbon Pricing Report, the World Bank has been tracking domestic carbon pricing policies, such as carbon taxes and emissions trading systems, that are critical to incentivize action to reduce emissions. With the growing potential for carbon markets as a means to increase climate finance under both the Paris Agreement and VCM, there is a renewed interest in understanding carbon market developments. This report aims to supplement the annual State and Trends report and contribute to the global effort to promote market transparency and trust by providing digestible insights into the state of play of international carbon markets.
This report provides an up-to-date overview of existing and emerging carbon pricing instruments around the world, including international, national and subnational initiatives. It also investigates trends surrounding the development and implementation of carbon pricing instruments and some of the drivers seen over the past year. Specifically, this includes the use of carbon taxes, emissions trading systems, and crediting mechanisms. Key topics covered in the 2023 report include how governments have responded to the global energy crisis, uptake of ETSs and carbon taxes in emerging economies, and progress in carbon markets and supporting frameworks, including implementation of Article 6 of the Paris Agreement.
This report provides an up-to-date overview of existing and emerging carbon pricing instruments around the world, including international, national and subnational initiatives. It also investigates trends surrounding the development and implementation of carbon pricing instruments and how they could accelerate the delivery of long-term mitigation goals. Specifically, this includes the use of carbon taxes, emissions trading systems and crediting mechanisms. Key topics covered in the 2022 report include cross-border approaches to carbon pricing, challenges and opportunities from rising energy prices, and new technologies and governance frameworks shaping carbon markets.