World Bank Report Highlights Growth in Global Carbon Pricing

A new World Bank report reveals that 40 percent of global industrial emissions are now regulated through carbon taxes or carbon markets, marking significant progress in global efforts to combat climate change. The report attributes much of this growth to China, which has expanded its emissions-limiting program to include key industries such as cement, steel, and aluminum production. As the world’s largest greenhouse gas emitter, China’s expanded regulations now cover half of its emissions, significantly contributing to the global increase.
The report emphasizes the role of carbon pricing as a powerful tool in reducing emissions, particularly in large and diverse sectors like manufacturing and construction, which account for around 20% of global greenhouse gas emissions. This expansion underscores growing global commitment to addressing climate change through targeted policy measures, with substantial progress achieved in just one year. The findings highlight the potential for further reductions as more countries adopt and expand carbon pricing mechanisms.

Published: 6/24/2025