Carbon Pricing in Action
As of April 2019, 46 national and 28 subnational jurisdictions are putting a price on carbon.
Summary of regional, national and subnational carbon pricing initiatives implemented, scheduled for implementation and under consideration (ETS and carbon tax)
As of June 2019, there are 57 carbon pricing initiatives implemented and scheduled for implementation. This consists of 28 emission trading systems (ETSs) in regional, national and subnational jurisdictions, and 29 carbon taxes, primarily applied on a national level. In total, these carbon pricing initiatives cover 11 gigatons of carbon dioxide equivalent (GtCO2 e), or about 20 percent of global GHG emissions, similar as compared to last year. In 2018 and 2019, the number of carbon pricing initiatives around the world increased and existing systems were strengthened as jurisdictions assessed their policies to better align with their climate objectives. 11 new initiatives were implemented during this time-period. Examples include:
An ETS in Massachusetts covering power plants, which will continue to be subject to the Regional Greenhouse Gas Initiative (RGGI);
A carbon tax in Argentina covering most liquid fuels.
A backstop system at the federal level in Canada with two carbon pricing initiatives: an ETS that applies to power generation and industrial facilities, and a carbon tax-like fuel charge that covers a wide range of fossil fuels and combustible waste. The backstop system applies to provinces and territories that opt for it, or else have failed to establish their own carbon pricing initiative that meets federal benchmarks;
An ETS in Nova Scotia, applying to the industry, electricity, building, and transport sectors;
An ETS and a carbon tax in Newfoundland and Labrador, with the ETS applying to large industrial facilities and electricity generation, and a carbon tax covering fuels primarily used in transportation, heating of buildings and electricity generation;
A carbon tax in Prince Edward Island similar to the fuel charge of the federal backstop system;
An ETS in Saskatchewan covering large industrial facilities, which is complemented with the federal backstop system on all other emissions in the province as the ETS alone did not meet the federal benchmark;
A carbon tax in Singapore that applies to all large emitters;
An economy-wide carbon tax in South Africa—the first carbon tax in Africa.