State and Trends of Carbon Pricing 2026

The World Bank Group’s annual State and Trends of Carbon Pricing report is aimed at providing an up-to-date overview of existing and emerging carbon pricing instruments around the world, including international, national, and subnational initiatives. It focuses on identifying key developments relating to all forms of direct carbon pricing – emissions trading systems, carbon taxes, and carbon crediting mechanisms. This year’s report will be the thirteenth (in its current format) – building on many decades of World Bank Group work in this space.

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About State and Trends of Carbon Pricing

Carbon pricing can be an important tool to mobilize finance and secure development outcomes. Today, nearly 30% of global greenhouse gas emissions are covered by a direct carbon price across 87 implemented policies.

The 2026 edition of the State and Trends of Carbon Pricing report provides anopportunity to reflect on the past decade. Viewed over this longer horizon, several trends stand out: carbon pricing has expanded significantly, with more diverse approaches to its design, and steadily increasing carbon prices. Carbon markets have expanded both in size and the potential uses they serve and now exist in a more elaborate ecosystem to generate, trade, and evaluate credits. Drawing on compliance instruments (ETSs and carbon taxes) and carbon crediting data, the report offers evidence-based insights into policies and market developments.

Key Messages in 2026

Carbon pricing now covers nearly 30% of global greenhouse gas emissions.
Carbon pricing mobilized over $107 billion for public budgets in 2025.
All large middle-income economies have now either implemented or are planning direct carbon pricing instruments.
In carbon crediting markets, overall carbon credit issuances rose 8% from 2024 to 2025.
Carbon credit prices declined slightly across 2025, but certain types of projects continued to have a price premium, including those eligible for use by international airlines, or highly rated forest conservation and reforestation projects.