State and Trends of Carbon Pricing 2014


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This presentation informs on the World Bank Report "State and Trends of Carbon Pricing 2014". Written with support from Ecofys, the report explores the current status of carbon pricing instruments around the world. Countries increasingly see carbon pricing as an opportunity to deliver benefits both to the climate and a sustainable economy. Today, 39 national and 23 sub-national jurisdictions – responsible for almost a quarter of the global greenhouse gas emissions – have implemented or are scheduled to implement carbon pricing instruments. The presentation was given at Carbon Expo in May 2014.
© 2014 The World Bank Group, All Rights Reserved.

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State and Trends of Carbon Pricing 2014

  1. 1. Carbon Expo Cologne May 2014
  2. 2. 1/8 of global GHG emissions under the KP CP2 (so far, only 9 Countries have ratified) So far, the only country with a CP2 target that ratified the KP CP2 is Monaco, with 90k CO2e (0.0002% of global GHG) European Union Australia Ukraine Kazakhstan Belarus Norway Switzerland Iceland Liechtenstein Monaco Size represent relative annual GHG emissions Ukraine, Kazakhstan, and Belarus have not yet confirmed
  3. 3. International credit supply outstrips demand, but CDM success should not be overlooked Full potential for issuance for 2014–2020 Residual demand for 2014–2020 OVERALL CDM SUCCESS MtCO2e
  4. 4. Eight new carbon markets opened their doors in 2013, and more are coming in 2014 California CaT Québec CaT Kazakhstan ETS Shenzhen pilot ETS With the newcomers, the world’s emissions trading schemes are worth about US$30 billion ShareofglobalGHGcoveredbyETS Start date of compliance Shanghai pilot ETS Beijing pilot ETS Guangdong pilot ETS Tianjin pilot ETS Hubei pilot ETS Jan 2013 Jun 2013 Nov 2013 Dec 2013 Apr 2014 2014 2015 Chongqing pilot ETS Korea ETS
  5. 5. Uncovering the cover: Increasing share of global emissions under ETS The number of tiles indicate the GHG coverage in each scheme (each tile = 1.65%) Swiss ETS Saitama ETS Tokyo CaT RGGI Hubei pETS Shenzhen pETS Chongqing pETS Guangdong pETS EU ETS Alberta SGER NZ ETS Australia CPM Tianjin pETS KAZ ETS Québec CaT California CaT Beijing pETS Korea pETS Shanghai pETS
  6. 6. Carbon taxes around the world are evolving to allow more flexibility to reduce emissions
  7. 7. Price signals in carbon pricing initiatives are diverse • Carbon prices among schemes occupy a significant range • Prices are: • Aligned with national priorities and political realities • Consistent with the international dialogue • Reflecting features in each instrument
  8. 8. About 40 national and over 20 sub-national jurisdictions are putting a price on carbon Carbon pricing instruments cover almost 6 GtCO2e
  9. 9. Full deployment of available instruments for international cooperation is needed
  10. 10. Carbon Expo Cologne May 2014 Thank you!!
  11. 11. An increasing share of global emissions covered under an ETS
  12. 12. Emissions trading schemes continue to develop at pace, despite the dire state of the international carbon market
  13. 13. Jurisdiction and status of each carbon pricing instruments Instrument Status Regional National Sub-national ETS Implemented EU ETS Australia, Kazakhstan, New Zealand, Switzerland Alberta, California, six Chinese pilots, three Japanese schemes, Québec, RGGI Implementation scheduled Republic of Korea Chongqing Under consideration Brazil, Chile, China, Japan, Mexico, Thailand, Turkey, Ukraine Rio de Janeiro, São Paulo, Washington Tax Implemented Denmark, Finland, France, Iceland, Ireland, Japan, Mexico, Norway, Sweden, Switzerland British Columbia Implementation scheduled South Africa Under consideration Chile, Republic of Korea Yet to be chosen Colombia, Costa Rica, India, Indonesia, Iran, Jordan, Morocco, Peru, Russia, Tunisia, Vietnam Manitoba, Ontario, Oregon