World Bank; Record Revenue from Global Carbon Pricing

In the report published by the World Bank; It was noted that the revenue generated as a result of global carbon pricing reached a record 84 billion dollars in 2021, an increase of approximately 60 percent compared to the previous year.

The World Bank included its annual report titled "The State and Trends of Carbon Pricing". According to the statement, which covers global developments in carbon pricing, there are 68 direct carbon pricing instruments in operation, 36 of which are carbon taxes and 32 of which are the Emissions Trading System. It was added that global carbon pricing revenue rose 60 percent year-on-year to $84 billion in 2021. The World Bank's report highlighted that such income is an important resource to support sustainable economic recovery, finance broader financial reforms or invest in communities as part of the low-carbon transition future. The report pointed out that carbon prices have reached record levels in many regions, including the European Union (EU), California, New Zealand, Korea, Switzerland and Canada, but less than 4 percent of global emissions are expected by 2030 to meet the temperature targets of the Paris Agreement. It was noted that direct carbon pricing in the required range was met.