The World Bank recently published their yearly report presenting the latest developments in carbon pricing around the world.

Every year the impacts of climate change feel more immediate and daunting, this year even more so than usual as we face more extreme weather and alarming scientific reports.

In 2018 and 2019, the number of carbon pricing initiatives around the world increased and existing systems were strengthened as jurisdictions assessed their policies to better align with their climate objectives.

However, the coverage and price levels of carbon pricing initiatives are still insufficient. It is crucial that jurisdictions take action now to increase the breadth and the depth of carbon pricing. 2019 is also a critical year for clarifying the implementation of the international carbon pricing mechanisms stated in the Paris Agreement and unlock their potential for accelerating action and increasing ambition.

The report offers an overview of international, regional, national and sub-national carbon pricing initiatives. It investigates trends surrounding the development and implementation of carbon pricing instruments and how they could accelerate the delivery of long-term mitigation goals. This edition also discusses the relation between policies that put an explicit price on carbon and policies that put an implicit price on carbon.

The report can be accessed through this link.