10:17 GMT +314 November 2019
Listen Live
    In this Monday, Nov. 24, 2014 file photo, smoke streams from the chimneys of the E.ON coal-fired power station in Gelsenkirchen, Germany

    Gov’ts Rely Mostly on Carbon Emissions Charges for Revenue Source

    © AP Photo / Martin Meissner, File
    Get short URL
    0 12

    Governments are increasingly using carbon emissions charges as a source of revenue, the World Bank Group’s said in its latest report on carbon pricing published Wednesday.

    MOSCOW (Sputnik) — Governments worldwide increasingly use the charges for carbon emissions as a source of revenue, the World Bank Group’s said in its latest report on carbon pricing published Wednesday.

    According to the advance brief from the report, released Wednesday, in 2015, $26 billion were raised from governmental charges for carbon emissions, which is 60 percent more than in 2014.

    "As more countries move to put a price on carbon pollution, we’ll see the benefits to people’s health, the environment and more investments towards a low carbon future," Senior Director for Climate Change at the World Bank Group John Roome said, as quoted on the organization’s website.

    ​According to the report, 40 countries and over 20 cities, states and regions, altogether accounting for a fourth of all greenhouse gas emissions, have introduced charges for carbon emissions. South Korea, Portugal, Canada’s British Columbia province, and Australia have launched carbon pricing initiatives since the start of 2015. China and Mexico are reportedly considering the introduction of similar schemes.

    In December, the 2015 United Nations Climate Change Conference in Paris ended in the 196 negotiators agreeing to boost the transition toward clean energy. The deal aims to limit global average temperatures to less than 2 degrees Celsius above pre-industrial levels and to create more financing to curb greenhouse gas emissions and support more climate-resilient development.


    Norwegian Sovereign Fund to Sue Germany's Volkswagen Over Emissions Scandal
    Volkswagen to Buy Back Faulty Cars Over Emissions Scandal
    IEA Confirms Decoupling of Carbon Dioxide Emissions From Economic Growth
    revenue, carbon dioxide, carbon emissions, World Bank, World
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik