As Carbon Expo draws to a close today, a new report from the World Bank - released during the event itself – shows that from China to California, South Africa to Australia, new carbon pricing initiatives are emerging. Over 40 national and 20 sub-national jurisdictions have either implemented or are considering mechanisms that put a price on carbon.
Mapping Carbon Pricing Initiatives - developments and prospects outlines key developments and prospects of existing and new emission trading schemes and carbon taxes around the world. The findings signal the importance that policy makers attach to putting a price on carbon to address climate change.
According to Rachel Kyte, World Bank Vice President for Sustainable Development, “Even as the first generation of the carbon market stutters, a robust price on carbon has never been more important if we are to avert dangerous climate change.” Read more here.