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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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Carbon Expo Cologne May 2014
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
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
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
Share
of glo
bal G
HG
covere
d b
y E
TS
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
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
Carbon taxes around the world are evolving to allow more flexibility to reduce emissions
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
About 40 national and over 20 sub-national jurisdictions are putting a price on carbon
Carbon pricing instruments cover almost 6 GtCO2e
Full deployment of available instruments for international cooperation is needed
Carbon Expo Cologne May 2014
www.carbonfinance.org www.ecofys.com
Thank you!!
An increasing share of global emissions covered under an ETS
Emissions trading schemes continue to develop at pace, despite the dire state of the international carbon market
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
