Governments ‘to raise $22bn from carbon pricing’

Global governments will raise around $22 billion (£14.8bn) this year by putting a price on carbon. That’s a “significant” increase from $15 billion (£9.6bn) in 2014, according to a report from […]

Register now!

By Jacqueline Echevarria

Global governments will raise around $22 billion (£14.8bn) this year by putting a price on carbon.

That’s a “significant” increase from $15 billion (£9.6bn) in 2014, according to a report from the Climate Markets and Investment Association (CMIA).

Around three quarters of the revenue raised will be in Europe which has an emissions trading system (ETS) as well as carbon taxes in some countries, it added.

Carbon tax and pricing schemes have also increased in the UK, France, Scandinavia and California.

Revenues from carbon pricing “appear likely to continue to increase” around the world and continuing debate will be needed about how these funds should best be used in the future, the report suggests.

Richard Folland, Executive Director at CMIA said: “Carbon pricing looks likely to be a signature issue at the Paris COP21 as a contribution to the public policy debate.”