The global carbon market is on a steep growth trajectory. It's projected to expand from $104 billion in 2023 to $428 billion by 2030. That's an impressive CAGR of 22.4%.
Top 15 Carbon Tax countries:
🇫🇷 France - $8.9 billion
🇨🇦 Canada - $7.8 billion
🇸🇪 Sweden - $2.3 billion
🇳🇴 Norway - $2.1 billion
🇯🇵 Japan - $1.8 billion
🇫🇮 Finland - $1.7 billion
🇨🇭 Switzerland - $1.6 billion
🇬🇧 United Kingdom - $0.9 billion
🇮🇪 Ireland - $0.7 billion
🇩🇰 Denmark - $0.5 billion
🇵🇹 Portugal - $0.5 billion
🇦🇷 Argentina - $0.3 billion
🇲🇽 Mexico - $0.2 billion
🇸🇬 Singapore - $0.1 billion
🇿🇦 South Africa - $0.1 billion
By 2030, we'll be choking on 40 billion tons/year of carbon emissions. Therefore, the global landscape of carbon pricing is growing rapidly, with carbon taxes and emissions trading systems (ETS) emerging as powerful tools in the fight against climate change. As of 2024, these mechanisms have generated an impressive $104 billion in revenue worldwide, with the top 15 countries contributing $30 billion.
$30 billion from top 15 countries
+ Others $74 billion
= TOTAL $104 billion worldwide.
Countries with high carbon pricing:
🇺🇾 Uruguay - $167 per metric ton of CO2 equivalent (tCO2e)
🇨🇭 Switzerland - €120.16 ($130.81) per tCO2e
🇱🇮 Liechtenstein - €120.16 ($130.81) per tCO2e
🇸🇪 Sweden - Nearly $100 per tCO2e
🇫🇮 Finland - Almost $100 per tCO2e
🇪🇺 Europe - Almost $61 per tCO2e
🌐 As of 2024, the global average carbon price is $32 per tCO2e, which is $18 short of the minimum needed to meet climate goals in the next six years. [Data Source]
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