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Wednesday, 24 May 2017 14:00

The global CO2 trade market has increased

The global CO2 trade market has increased

Globally, the total value of emission trading systems (ETSs) and carbon taxes in 2017 is US$52 billion, an increase of seven percent compared to 2016. The number of carbon pricing initiatives implemented or scheduled has almost doubled over the past five years, according to Carbon Pricing Watch 2017. Since 2016, eight new carbon pricing initiatives have been put in place – three at a national level and five at a subnational level, Caspian Energy News (www.caspianenergy.net) reports with reference to the press statement of the World Bank.

“Carbon pricing initiatives are helping countries reach their climate change commitments at a lower cost,” said John Roome, Senior Director for Climate Change at the World Bank Group. “Well-designed carbon pricing instruments, implemented alongside other supporting policies and regulations, can help to incentivize large-scale climate action.”

Globally, the total value of emission trading systems (ETSs) and carbon taxes in 2017 is US$52 billion, an increase of seven percent compared to 2016.

More details: http://www.worldbank.org/en/news/press-release/2017/05/23/number-of-carbon-pricing-initiatives-nearly-doubled-over-past-five-years-says-new-report

Person in charge of the newsline: Fidan Isayeva 

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