What are other countries doing about climate change?
Momentum for carbon pricing is growing
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- The number of jurisdictions that use carbon pricing has tripled in the last 10 years. Carbon pricing now covers over 14% of global GHG emissions in 42 countries.
- Many of the world’s largest emitters have implemented carbon pricing:
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- The European Union’s Emissions Trading System operates in 31 countries and covers 45% of the region’s GHG emissions; EU carbon prices recently hit a ten-year high
- China created the world’s largest cap-and-trade market in 2017
- Eleven U.S. states have a price on carbon, including California, New York and Massachusetts
- The most recent nations to announce that they are implementing carbon pricing include Argentina, Mexico, Singapore, and South Africa
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The world’s biggest emitters are acting on climate change
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- China has committed to peaking its carbon emissions by 2030 (and may have already peaked), to increasing non-fossil-fuel energy to 20 percent of its energy mix, and to significantly expanding its forested area. The growth in its wind and solar energy deployment is the fastest in the world.
- Despite recent reversals at the federal level in the U.S., considerable efforts are underway at the state and municipal level. Over 2,500 subnational governments and businesses, representing over half of the U.S. economy, have pledged to continue action to meet their country’s Paris targets.
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Other Resources
More Fast Facts on Carbon Pricing