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State and Trends of Carbon Pricing Report 2024

Carbon Taxes and Emissions Trading Systems Cover 24% of Global Carbon Dioxide Emissions  

Beginning in 2005 in the European Union, governments have been developing ETS (emission trading systems) and carbon taxes to offset greenhouse gas emissions. In the eleventh edition of its annual State and Trends of Carbon Pricing Report, the World Bank provided an overview of global carbon pricing activities. A key finding is that around 24% of global carbon dioxide emissions were covered by carbon taxes and ETS in 2024; this translates into an increase of over 400 million metric tons of carbon dioxide equivalent from 2023.   

State and Trends of Carbon Pricing Report 2024
  1. There are now 75 carbon taxes and ETS globally, reflecting both national and subnational activities. 

  2. While a combination of carbon tax and ETS is now implemented in Europe, Canada, Mexico, and other parts of the world, many of the 195 countries that signed the Paris Agreement in 2016 have yet to act. 

  3. Carbon pricing instruments cover around 24% of global carbon dioxide emissions, or around 13 gigatons of carbon dioxide equivalent. This is up from 7% coverage seen a decade ago. 

  4. Carbon pricing revenues in 2023 exceeded $100 billion for the first time. Over half of this revenue was used to fund climate- and nature-related programs. 

  5. The recommended 2030 carbon price range ($63–$127 per ton of carbon dioxide equivalent) has been met in the Netherlands, Norway, Finland, and Sweden, while Switzerland, Liechtenstein, and Uruguay have exceeded this amount. 

  6. ETS and carbon tax are both implemented in parts of Canada (British Columbia and Manitoba); the EU (including Spain, France, UK, and the Netherlands); and parts of Mexico. 

  7. Carbon taxes are implemented in the Northwest Territories (Canada); parts of Mexico (including Zacatecas and Durango); South America (including Colombia, Chile, and Argentina); Ukraine; South Africa; and Asia (Japan, Taiwan, and Singapore). 

  8. ETS is implemented in parts of Canada (including Alberta and Ontario); parts of the EU (including Germany, Italy, and Belgium); Kazakhstan; China; and parts of Oceania (including Australia, New Zealand, and Indonesia). 

  9. In the US, ETS is implemented in Washington and California. The 11 Mid-Atlantic and Northeast states in the Regional Greenhouse Gas Initiative have active carbon pricing instruments as well. 

  10. Most of Africa does not have ETS or carbon tax, but they are under consideration or development in Morocco, Mauritania, Senegal, Côte d'Ivoire, Botswana, and Kenya.  



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