A World Bank report on the status and trends of carbon pricing showed that carbon tax revenues and emissions licensing trading systems reached record levels of about $95 billion.
Commenting on the report, World Bank Global Director for Climate Change Jennifer Sarah explained, "Carbon pricing can be an effective way to integrate climate change costs into economic decision-making, thereby catalyzing climate action. The good news this report brings is that even in difficult economic times, governments prioritize direct carbon pricing policies to reduce emissions but to drive change on the scale that is really needed, we need to see significant progress in terms of both coverage and prices."
Source (Alkhaleej Emirati Newspaper, Edited)
