International cooperation on carbon pricing : can country coalitions lead the way?

Abstract

With 2023 being the hottest year documented and global emissions remaining at record-high levels, we are reminded about the importance of translating climate commitments into effective policies – across both developed and developing economies. Carbon pricing is the policy in focus to reduce emissions, expand removals and raise revenues for further action on climate change. This policy brief focuses on the development of carbon pricing globally, with an emphasis on domestic carbon pricing and country-led international cooperation mechanisms.