More than 25 jurisdictions around the world now internalize the costs of carbon pollution—collectively representing approximately $33 trillion—more than 44 percent—of global GDP and more than one billion people.
It is no longer a question of whether or not economies will internalize the costs of carbon pollution; it’s a question of when. A growing number of national and subnational governments—including those shown below—are now using a carbon tax, cap-and-trade program, or similar market-based mechanism to level the playing field between clean and fossil energy.
The energy shift will proceed with or without a carbon price, but where they exist, such policies help accelerate clean innovation and truly unleash the power of the market against climate disruption.
Excerpted from Tracking the Energy Revolution – Global 2014.