While international carbon markets struggle, domestic carbon pricing initiatives continue to surface around the world
Regional, national and sub-national carbon pricing initiatives are emerging in an increasing number of countries according to the latest World Bank report prepared with Ecofys, “Mapping Carbon Pricing Initiatives - developments and prospects“. The report has been presented at Carbon Expo in Barcelona today. While existing markets face structural issues, and slow economic recovery in Europe has dampened the world’s largest carbon market (the European emissions trading system), new bottom-up approaches to curbing greenhouse gas emissions are emerging, that build on previous experience and valuable lessons learnt. They show a continuous political will to mitigate greenhouse gases in line with governments’ ambitions for robust development and economic growth.
Please find more information in the World Bank press release.