Global schemes to price CO2 emissions worth almost $50 billion: World Bank
BARCELONA: The value of global schemes to put a price on carbon dioxide (CO2) emissions and designed to reduce greenhouse gases blamed for global warming totalled almost $50 billion as of April 1, the World Bank said in a report on Tuesday.
The Carbon Pricing Watch report estimates emission trading schemes were worth $34 billion on April 1, up from $32 billion in 2014, while carbon taxes around the world, valued for the first time in the report, were about $14 billion.
The increase stemmed largely from the launch in January of South Korea’s emissions trading scheme, which will impose caps on emissions from 525 of the country’s biggest companies and become the world’s second-biggest carbon market.
