State and Trends of Carbon Pricing 2017

Published: 01/11/2017

The value of carbon pricing initiatives – including emissions trading schemes (ETS) and carbon taxes – has reached $52 billion, an increase of 7 percent compared to 2016. With eight new carbon pricing initiatives in place since early 2016 - three quarters of them in the Americas (Colombia, Chile, and a number of Canadian provinces) – there are now 42 national and 25 sub-national jurisdictions putting a price on carbon emissions.

In “State and Trends of Carbon Pricing 2017”, the World Bank, Ecofys, a Navigant company, and Vivid Economics provide an up-to-date overview of carbon pricing initiatives worldwide. The report shows that momentum on carbon pricing continues to grow, but that stronger action will be needed to meet the Paris Agreement goals while 85% of global emissions remain uncovered by carbon pricing.

According to the experts, revenues could increase to more than $100 billion a year if existing carbon pricing schemes adopted prices in line with the Paris temperature targets. The report also explores how climate finance and climate markets can be used in an integrated approach to support domestic policies in mobilizing the necessary low-carbon investments and provides lessons for the implementation of international climate markets.

Find additional insights in the World Bank press release.

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Climate Strategies and Policies
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