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Pricing Greenhouse Gas Emissions: Turning Climate Targets into Climate Action

 

Published 3 November 2022

Accelerating the transition to net zero greenhouse gas (GHG) emissions is urgently required to contain the risks of climate change. As countries seek to reduce GHG emissions, they can employ or reform a wide range of policy instruments. This report tracks how explicit carbon prices, energy taxes and subsidies have evolved between 2018 and 2021. This is an important subset of the policy instruments available to governments. All instruments considered in this report either directly change the cost of emitting GHG or change electricity prices. Reforming these instruments could help to meet climate targets, lead to cleaner air and water, and improve public finances. The report covers 71 countries, which together account for approximately 80% of global GHG emissions and energy use. Explicit carbon prices, as well as energy taxes and subsidies, are detailed by country, sector, product and instrument. The use of a common methodology ensures comparability across countries. Summary indicators facilitate cross-country comparisons and allow policymakers and the public to keep track of progress made and identify opportunities for reform.

HIGHLIGHTS

 

Country summaries and data

Argentina | Australia | Austria | Bangladesh | Belgium | Brazil | Burkina Faso | Canada | Chile | China | Colombia | Costa Rica | Côte d'Ivoire | Cyprus | Czech Republic | Denmark | Dominican Republic | Ecuador | Egypt | Estonia | Ethiopia | Finland | France | Germany | Ghana | Greece | Guatemala | Hungary | Iceland | India | Indonesia | Ireland | Israel | Italy | Jamaica | Japan | Kenya | Korea | Kyrgyzstan | Latvia | Lithuania | Luxembourg | Madagascar | Malaysia | Mexico | Morocco | Netherlands | New Zealand | Nigeria | Norway | Panama | Paraguay | Peru | Philippines | Poland | Portugal | Rwanda | Slovak Republic | Slovenia | South Africa | Spain | Sri Lanka | Sweden | Switzerland | Türkiye | Uganda | Ukraine | United Kingdom | United States | Uruguay

 

 

Data explorer

 

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EVENT

OECD COP27 Virtual Pavilion: What role for carbon prices as energy market turbulence continues?

10 November 2022 | 14:00-15:00 CET

The #OECDatCOP27 virtual pavilion will gather leading experts to discuss solutions to accelerate climate action and reach the goals of the Paris Agreement. Join us to engage in discussions on how to advance carbon pricing and greenhouse gas mitigation efforts for climate action.

 

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