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Record High Revenues From Global Carbon Pricing Near $100 Billion
Revenues from carbon taxes and Emissions Trading Systems (ETS) have reached a record high, about $95 billion, finds the World Bank’s annual “State and Trends of Carbon Pricing” report released today. This is despite the challenging context for governments facing high inflation, fiscal pressures, and energy crises. “Carbon pricing can be an effective way to incorporate the costs of climate change into economic decision making, thereby incentivizing climate action.” said Jennifer Sara, Global Director for Climate Change at the World Bank. “The good news from this report is that even in difficult economic ... (full story)