This report follows the evolution of carbon pricing around the world. The focus is on the recent highlights from around the world, and on key lessons that can be drawn from the growing experience.
From the Executive Summary:
Despite the difficult ongoing international climate negotiations, there is an increased focus on climate change policy and several economies are planning, implementing or refining domestic mitigation actions. These activities take careful note of past experiences, mirroring successes and dealing with weaknesses. At the international level, the second commitment period of the Kyoto Protocol (CP2) covers only 12% of global greenhouse gas (GHG) emissions. With only nine countries ratifying to date, all eyes are on the United Nations Framework Convention on Climate Change (UNFCCC) 2015 Conference Of the Parties (COP) in Paris, which offers an opportunity for convergence on concerted international climate action. A consensual and robust international solution could revive private sector confidence to invest in carbon markets, as they remain reluctant to engage, having experienced significant losses within recent memory.
Source: World Bank website