Countries around the world raised $84 billion last year by charging firms for emitting carbon dioxide, up around 60% from 2020 as prices in many schemes hit record highs and a handful of new carbon levies were launched, the World Bank said in a report on Tuesday.
Several countries are using a price on carbon emissions to help meet their climate goals in the form of a tax or under an emissions trading , or cap-and-trade, system.
A new carbon tax was launched in Uruguay in January 2022 while three new sub-national trading schemes were launched in North America, in Oregon, New Brunswick, and Ontario. Despite the record highs, however, carbon prices in most regions of the world remained below levels needed to drive changes to meet the 2015 Paris climate agreement, the World Bank said.
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