In 2017, Governments Raised About $33 Billion In Carbon Pricing Revenue, a 50% increase from 2016.
Governments at national and subnational levels around the world continue to prepare for, and implement, carbon pricing initiatives as a means to curb their emissions while raising revenues, a new World Bank report finds.
Launched at the Innovate4Climate conference in Frankfurt, the annual State and Trends of Carbon Pricing 2018 report shows that carbon pricing continues to gain traction. This edition of the report also includes emerging trends as countries negotiate the guidelines of the Paris Agreement, in the run-up to the 24th Conference of the Parties (COP24) to the United Nations Framework Convention on Climate Change (UNFCCC).
To date, 70 jurisdictions (45 national and 25 sub-national) have implemented, or are scheduled to implement, carbon pricing initiatives. These mechanisms helped governments raise about $33 billion in 2017 in carbon pricing revenues from allowance auctions, direct payments to meet compliance obligations, and carbon tax receipts. This represents a 50% increase compared to the US$22 billion raised in 2016.
Full Report (English):