World Bank: Global Carbon Pricing Revenue Tops $100 Billion But Falls Short On Impact

According to the latest World Bank report on carbon pricing, revenues from compliance markets have reached a record $104 billion last year covering 24% of global emissions.

Despite unprecedented revenues and expansion, global carbon price coverage and levels are still insufficient to achieve the Paris Agreement objectives. At present, less than 1% of global greenhouse gas emissions are subject to a direct carbon price that meets or exceeds the range recommended by the High-level Commission on Carbon Prices to keep temperature rise well below 2ºC.

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Read the full post at Carbon Herald.