Charging firms for emitting carbon dioxide has generated a record high of about $95 billion in revenue, but prices remain too low to meet the targets set by the Paris climate accord, says a World Bank report.
Several countries have set a price on carbon emissions to help meet their climate goals in the form of a tax, or under an emissions trading (ETS), or cap-and-trade system.
The World Bank has been tracking the carbon markets for around 20 years and issued the annual State and Trends of Carbon Pricing report, which is now in its tenth year.
