In 2015, governments raised about US$26 billion in revenues from carbon pricing initiatives – a 60% increase compared to the revenues raised in 2014, which were estimated to be about US$16 billion.
Looking ahead, the implementation of the Paris Agreement could enable jurisdictions to expand their carbon pricing initiatives and facilitate cooperation. The alignment of domestic and international carbon pricing initiatives with other domestic-level climate mitigation actions will be a key priority. To continue to build momentum, the High Level Panel on Carbon Pricing, a group of government leaders and international organizations, set forward a global target to double the emissions covered by carbon pricing initiatives to 25 percent by 2020, and to double this coverage again within a decade.
Read more in the Carbon Pricing Watch 2016 advance brief