The scope of carbon pricing initiatives accomplished through carbon taxation is increasing rapidly and is becoming a significant part of country policy strategies to achieve the nationally determined contributions under the 2015 Paris Agreement.
Carbon pricing has been around for much longer than many realize.
- Finland was the first country to introduce a carbon tax—in 1990.
- The world’s first carbon market—the European Union emission trading system—was established in 2005.
- As of 1 April 2022, 68 global carbon pricing initiatives—including both carbon taxes and emission trading systems—have been implemented.
Source KPMG
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