Answer: World Bank
Notes: The World Bank released the State and Trends of Carbon Pricing 2025 as carbon pricing now covers 28% of global Greenhouse Gas (GHG) emissions and raises over $100 billion in revenue. Carbon pricing attaches a cost to emitting GHGs to encourage emission reductions and reflect environmental costs. There are 80 active carbon pricing instruments, up from 5 in 2005, including Emissions Trading Systems (ETS), carbon taxes, and carbon credit markets. India introduced ETS rules in 2024 for its industrial sector, using rate-based benchmarks instead of emission caps.
