In the last year, growing public and investor pressure has moved climate change further up the agenda. As a result, we saw increased attention and efforts to address climate change around the world. More than 70 countries have committed to working toward net zero emissions by 2050 and to enhance their international climate pledges under the Paris Agreement. How these government and private sector pledges will be translated into action will be crucial in ensuring we can confine global warming to below two degrees Celsius.
An effective carbon price is one tool that can help both countries and companies to successfully decarbonize economies and supply chains. Encouragingly, as more ambitious climate pledges are taken, many of these programs and strategies are factoring in the role and potential for carbon pricing and carbon markets. This World Bank report analyses in detail the current state of play as well as future trends of carbon pricing and markets.
To read the full report, refer to the World Bank website.
