Carbon Pricing Status and Trends: International Carbon Markets 2024

Carbon markets are essential to accelerate climate action in developing countries, where climate finance needs far exceed available resources. By providing a channel to mobilize the necessary financing and deliver real additional emissions reductions and removals, carbon markets can help close significant investment gaps. In addition, they support broader economic development through associated co-benefits and the potential reinvestment of carbon revenues. As such, carbon markets can be an important tool for achieving climate goals and supporting vulnerable communities. (HANIA DAWOOD, more at worldbank.org)