World carbon trading market hits $104bn
Published On May 28, 2024 » 396 Views» By Times Reporter » Business, Stories
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By CHATULA KANGALI –
THE global carbon trading market has reached its record high hitting $104 billion in 2023, the World Bank (WB) has said.
The World Bank said carbon trading could be the most powerful tool available for policymakers to incentivize reducing emissions as part of an integrated policy mix.
According to the WB’s latest report, a decade ago, carbon pricing covered only seven percent of global emissions.
The WB observed that there was some optimism as carbon pricing and carbon markets continued to evolve and grow.

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