Global carbon pricing revenue reached US$84 billion in 2021, almost 60% higher than in 2020, providing an important source of funding to support a long-term economic recovery, finance broader fiscal reforms, and invest in communities, according to the World Bank’s new report.
The international financial institution last week released its annual ‘State and Trends of Carbon Pricing’ report, stating that there are currently 68 direct carbon pricing instruments in operation, including 36 carbon tax scheme and 32 Emissions Trading Systems(ETSs). Over the past year, four new carbon pricing instruments have been introduced, including one in Uruguay and three in North America.
