Janet Hallows, CMI’s director of climate programmes and nature-based solutions, says the growth of a high-integrity global market will have a crucial role to play, especially given the scale of finance currently being channelled into these solutions.
Some 23% of global greenhouse gas emissions are now covered by carbon pricing, with these mechanisms jointly raising US$100 billion ($134.49 billion) in 2022 alone, according to a new report by the Melbourne-headquartered Carbon Market Institute (CMI).
CMI’s first International Carbon Market Update for 2024, released on Feb 8, offers data and insights on global carbon pricing and policy, as well as the scale of investment towards decarbonisation.
