Wednesday, October 28, 2015

Governments to Raise $22 Billion from Carbon Pricing in 2015:  Report

Locations of Carbon Pricing Instruments (Credit: worldbank.org) Click to Enlarge.
Governments around the world will this year raise around $22 billion from schemes putting a price on carbon dioxide (CO2) emissions such as taxes or emissions trading systems, a report on Wednesday showed.

The role of carbon pricing, in efforts to curb rising emissions blamed for global warminghas gained prominence this year after several multinational companies including oil majors said such a price is needed to spur investment in low-carbon energy.

The figure is up 46 percent from an estimated $15 billion raised in 2014, the report by industry group the Climate Markets and Investment Association (CMIA) showed.

"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 future," it said.

Europe, which has an emissions trading system (ETS) as well as carbon taxes in some countries, accounted for almost three quarters of the revenue, the report said.

Read more at Governments to Raise $22 Billion from Carbon Pricing in 2015:  Report

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