How Is KR 7.3 Tracking?
Most countries have yet to impose and enforce a national price on emissions. This allows businesses to pollute without consequence.
To incentivize and accelerate emissions cuts, our Carbon Price key result calls for each country to place a nationwide fee on planet-warming emissions. A substantial carbon price, increasing over time, would make fossil fuel energy less and less competitive with green alternatives.
Implementation would vary from country to country, with developed nations setting a minimum price of $55 per ton, increasing 5 percent annually. Developing nations could set lower prices to start.
Data for KR 7.3 is sourced from Standard & Poors, the Center For Climate & Energy Solutions, the EU, and the UK to track the latest status of the top five emitters’ implementation of carbon pricing.
Incentives to use alternatives to fossil fuels are unevenly applied and administered: