碳定价的现状和趋势

1、State and Trends of Carbon Pricing 2020Washington DC, May 2020The preparation of this report was led by the World Bank, with the support of Guidehouse and with contributions from the International Carbon Action Partnership. We also acknowledge support from CDP and the Institute for Climate Economics

2、 for the preparation of this report.The World Bank task team responsible for this report was composed of Marissa Santikarn, Angela Naneu Churie Kallhauge, Suneira Rana, Daniel Besley and Joseph Pryor.The Guidehouse team included Maurice Quant, Long Lam, Jialiang Zhang, Louis Mark, Cara Merusi and Ia

3、n Trim.The report benefited greatly from the valuable contributions and perspectives of our colleagues in the climate and carbon finance community, who have ensured the quality and clarity of this report: William Acworth, Erik van Andel, Nicolette Bartlett, Tanguy de Bienassis, Ben Blank, Breen Byrn

4、es, Karan Capoor, Cyril Cassisa, Mavis Chan, Timila Dhakhwa, Ana Maria Dias, Dominik Englert, Susana Escria, Marion Fetet, Harikumar Gadde, Dida Gardera, Greenhouse Gas Inventory and Research Center of Korea, Stephane Hallegatte, Larry Hegan, Jason Hollett, Dorine Hugenholtz, Eef Husic, Peter Janosk

5、a, Yuji Jigata, Junaed Khan,Emma Krause, Francisco DallOrso Len, Jeff Lindberg, Emdio Lopes, Andrane Lussier, Memory Machingambi, Paul Martin, Taisei Matsuki, Dylan Morgan, Sarah Moyer,Klaus Oppermann, Ian Parry, Janet Peace, Sbastien Postic, Qubec Ministry of the Environment and the Fight against C

6、limate Change, Luca Lo Re, Marcos Castro Rodriguez, Stephanie Rogers, Stephan Schmidt, Catherine Sear, Juan Pedro Searle, Kensuke Suda, UNFCCC Secretariat, Elisabeth Vitzthum, Olga Yukhymchuk.This report was supported through the Carbon Pricing Leadership Coalition and Partnership for Market Readine

7、ss Programs.1ForewordIt is hard to focus on anything other than the current global health crisis. COVID-19 has upended our societies and the loss of normalcy, human connection and the economic toll is not to be underestimated. Unfortunately, even after countries embark on the path to recovery after

8、this crisis, the threat of climate change remains. Bush fires raged across California and Australia at the beginning of this year, the coral reef suffered a third mass bleaching in five years and Antarctica experienced the first known heatwave.In the last year, growing public and investor pressure h

9、as moved climate change further up the agenda. As a result, we saw increased attention and efforts to address climate change around the world. More than 70 countries have committed to working toward net zero emissions by 2050 and to enhance their international climate pledges under the Paris Agreeme

10、nt. How these government and private sector pledges will be translated into action will be crucial in ensuring we can confine global warming to below two degrees Celsius. An effective carbon price is one tool that can help both countries and companies to successfully decarbonize economies and supply

11、 chains. Encouragingly, as more ambitious climate pledges are taken, many of these programs and strategies are factoring in the role and potential for carbon pricing and carbon markets.While we may understand the economic theory of carbon pricing: make something more expensive and we will use less o

12、f it the ramifications of shifting to a low-carbon economy will likely require a significant restructure of our economies and societies. The low-carbon transition must have public support and be socially just. Carefully planning these policies, including carbon pricing, and proactive communication o

13、n the benefits they can bring to our communities, workers and environment, will be critical. Emissions reductions can bring significant health benefits, while revenue generated from a carbon price needs to be focused on long term solutions. These carbon revenues can be used support other development

14、 policies to meet critical infrastructure and education. Furthermore, as traditional means of business and production may be disrupted when these climate policies ramp up, a plan to support these communities will also be important.Each year, we at the World Bank prepare this report to update readers

15、 on the developments in carbon pricing around the world. In this years report we also look at the role and use of crediting mechanisms. Over recent years, there has been a surge of public and private interest in carbon credits as part of a broader decarbonization portfolio. Countries are increasingl

16、y pairing their domestic carbon taxes and carbon markets with a crediting mechanism to stimulate action and investments in certain sectors, while giving governments and businesses some flexibility in tackling emissions in hard to abate sectors. Companies are also purchasing credits on the voluntary

17、market in line with growing investor and consumer awareness of climate action.Internationally, credits will also play a key role in reducing emissions from airlines with the international aviation offset scheme CORSIA coming into effect this year. However, robust standards are critical to ensuring t

18、hese credits have environmental integrity.The World Bank is committed to supporting countries as they assess and put carbon pricing policies in place. A well-designed carbon price embedded in a broader package of climate, energy and development policies and measures remains critical to solving the c

19、limate challenge and advancing the achievement of sustainable development aspirations.Bernice Van Bronkhorst,Climate Change Global Director, World Bank Group2List of abbreviations and acronymsCDegrees CelsiusABMAdaption Benefit Mechanism ACCUAustralia Carbon Credit Unit ACRAmerican Carbon RegistryAD

20、BAsian Development BankBAUBusiness as usualBCBritish ColumbiaBFCERBeijing Forestry Certified Emission ReductionCARClean Air RuleCCERChinese certified emission reductionsCCFClimate Cent FoundationCCIRCarbon Competitive Incentive RegulationCCRCost Containment ReserveCCSCarbon capture and storageCCUCar

21、bon capture and utilization CDMClean Development Mechanism CERCertified Emission ReductionCFICarbon Farming InitiativeCi-DevCarbon Initiative for DevelopmentDCDistrict of ColumbiaEBRDEuropean Bank for Reconstruction and DevelopmentECREmissions Containment ReserveEPSEmissions Performance StandardERFE

22、missions Reduction FundERPAEmission Reductions PaymentAgreementERUEmission Reductions UnitETSEmissions Trading SystemEUEuropean UnionEUAEuropean Union AllowanceFFCERFujian Forestry Certified Emission ReductionFCPFForest Carbon Partnership FacilityFSB-TCFDFinancial Stability Board-Task Force on Clima

23、te-related Financial DisclosuresGCFGreen Climate FundGECGlobal Environment Centre FoundationGGIRCAGreenhouse Gas Industrial Reporting and Control ActCO2Carbon dioxideGHGGreenhouse gasGtCO eGigaton of carbon dioxide equivalentCO2eCarbon dioxide equivalentCOPConference of the PartiesCORSIACarbon Offse

24、t and Reduction Scheme for International AviationCPAComponent Project ActivitiesCPLCCarbon Pricing Leadership CoalitionCRTClimate Reserve Tonne2HBHouse BillHFCHydrofluorocarbonICAOInternational Civil Aviation OrganizationIEAInternational Energy Agency3IMFInternational Monetary FundIMOInternational M

25、aritime OrganizationIPCCIntergovernmental Panel on Climate ChangeISFLInitiative for Sustainable Forest LandscapesITMOInternationally Transferred Mitigation OutcomeJ-VERJapan Verified Emission ReductionJCMJoint Crediting MechanismJIJoint ImplementationKliKClimate Protection and Carbon Offset Foundati

26、onKOCKorean Offset CreditsktCO2eKiloton of carbon dioxide equivalentMDBMultilateral development bankMoUMemorandum of understandingMRVMonitoring, Reporting and VerificationMSRMarket stability reserveMtCO2eMegaton of carbon dioxide equivalentN2ONitrous oxideNACAGNitric Acid Action GroupNACAPNitric Aci

27、d Climate Auctions Program NDCNationally Determined Contribution NDRCNational Development and ReformCommissionNWTNorthwest TerritoriesNZUNew Zealand UnitOBPSOutput-Based Pricing SystemOMGEOverall Mitigation in Global EmissionsOPROffset Project RegistryRBCFResults-based Climate FinanceREDDReducing Em

28、issions from Deforestation and Forest DegradationREDD+Extends REDD by including sustainable forest management, conservation of forests, and enhancement of carbon sinksRGGIRegional Greenhouse Gas InitiativeROCRegistry Offset CreditsSBSenate BillSCFStandardized Crediting FrameworkSDGSustainable Develo

29、pment GoalSD VIStaSustainable Development Verified Impact StandardSEMARNAT Secretariat of Environment and Natural ResourcestTon (note that, unless specified otherwise, ton in this report refers to a metric ton = 1,000 kg)TABTechnical Advisory BoardTCAFTransformative Carbon Asset FacilityTCFDTask For

30、ce on Climate-related Financial DisclosuresTCITransportation and Climate InitiativetCO2Ton of carbon dioxidetCO2eTon of carbon dioxide equivalentTIERTechnology Innovation and Emissions ReductionTMGTokyo Metropolitan GovernmentUKUnited KingdomUNUnited NationsUNFCCCUnited Nations Framework Convention

31、on Climate ChangeUSAUnited States of AmericaPAFPilot Auction FacilityVCSPFCPerfluorocarbonVCUPHCERPu Hui Certified Emission ReductionVERPMRPartnership for Market ReadinessPoAProgramme of ActivitiesWTOVerified Carbon Standard Verified Carbon UnitVerified Emissions Reduction World Trade OrganizationTa

32、bleof contents HYPERLINK l _TOC_250012 Foreword 1List of abbrevations and acronyms 2 HYPERLINK l _TOC_250011 Executive summary 6Introduction 14Regional, national, and subnational carbon pricing initiatives 18 HYPERLINK l _TOC_250010 Recent developments, future and emerging trends 19 HYPERLINK l _TOC

33、_250009 Detailed overview of carbon pricing initiatives 29Carbon crediting mechanisms 46 HYPERLINK l _TOC_250008 The concept and role of crediting mechanisms in climate action 47 HYPERLINK l _TOC_250007 Carbon crediting trends 50 HYPERLINK l _TOC_250006 Overview of crediting mechanisms 58 HYPERLINK

34、l _TOC_250005 International mechanisms 59Major independent crediting mechanisms 61 HYPERLINK l _TOC_250004 Regional, national and subnational crediting mechanisms 65International carbon pricing initiatives 84 HYPERLINK l _TOC_250003 NDCs under the Paris Agreement 85 HYPERLINK l _TOC_250002 Internati

35、onal carbon pricing initiatives associated with the Paris Agreement 87Results-based climate finance (RBCF) 91 HYPERLINK l _TOC_250001 International aviation 93 HYPERLINK l _TOC_250000 International shipping 95Internal carbon pricing 96Appendix A, Exchange rates 101Appendix B, Detailed overview of ca

36、rbon pricing initiatives in the Canadian provinces and territories102FiguresFigure ES.1Carbon pricing initiatives implemented, scheduled for implementation and under consideration (ETS and carbon tax)10Figure ES.2Share of global emissions covered by carbon pricing initiatives (ETS and carbon tax)11F

37、igure ES.3Prices in implemented carbon pricing initiatives12Figure ES.4Carbon price, share of emissions covered and carbon pricing revenues of implemented carbon pricing initiatives13Figure 2.1Carbon pricing initiatives implemented, scheduled for implementation and under consideration (ETS and carbo

38、n tax)24Figure 2.2Share of global emissions covered by carbon pricing initiatives (ETS and carbon tax)25Figure 2.3Prices in implemented carbon pricing initiatives26Figure 2.4Carbon price and emissions coverage of implemented carbon pricing initiatives27Figure 2.5Carbon price, share of emissions cove

39、red and carbon pricing revenues of implemented carbon pricing initiatives28Figure 2.6Carbon pricing initiatives implemented or scheduled for implementation, with sectoral coverage and GHG emissions covered45Figure 3.1High-level example of how carbon crediting works48Figure 3.2Total credit issuance v

40、olumes by registry, sector, and region as of December 31, 201952Figure 3.3Annual number of projects and issuances of covered crediting mechanisms for 2002201954Figure 3.4Annual volume of issuances by crediting mechanism for 2015201956Figure 3.5Issuance volumes in ktonCO2e by sector and type of mecha

41、nism for 2015201957Figure 3.6Status of regional, national and subnational crediting mechanisms66Figure 4.1Status of net zero CO2 emissions targets by country85Figure 5.1Objectives for implementing an internal carbon price98TablesTable 2.1Type and status of carbon pricing initiatives in the Canadian

42、provinces and territories30Table 2.2Key carbon pricing developments in individual US States41Table 3.1Sector map of crediting activities51Table 3.2Description of the overview table for carbon crediting mechanisms58Table A.1Currency conversion rates, as of April 1, 2020101Table B.1Carbon pricing deve

43、lopments in the Canadian provinces and territories102BoxesBox ES.1Carbon pricing in numbers9Box 2.1COVID-19 impacts on carbon pricing21Box 2.2Coalition of Finance Ministers for Climate Action22Box 2.3Carbon border adjustment mechanisms23Box 2.4Summary of selected changes in regional, national and su

44、bnational carbon pricing initiatives43Box 3.1Crediting under the Paris Agreement49Box 3.2Example of best practice principles on carbon credits (based on ICROA)50Box 3.3California Offset Project Registry72Box 4.1Article 6 of the Paris Agreement87Box 5.1Case studies on companies using an internal carb

45、on price to achieve net zero or carbon negative targets996Executive summaryDomestic carbon pricing initiatives have been strengthened as jurisdictions around the world adopt more ambitious mitigation targets and introduce associated policy tools. This is particularly crucial as 2020 and 2021 are cri

46、tical years for countries to ramp up their emission reduction pledges under the Paris Agreement, with many countries, regions and cities in the past year declaring a “climate emergency”.Restrictions due to the COVID-19 pandemic have led to a global economic downturn, with implications for climate ac

47、tion more broadly. The economic crisis triggered by COVID-19 has led to large shifts in energy consumption and consumer behavior, challenging the economic foundations of many countries. As communities start to bounce back and conversations turn to recovery and stimulus packages, countries should con

48、sider how measures can be designed to best support a transition to a low-carbon economy. Measures for kickstarting economies could be designed in such a way that they generate jobs and infrastructure that support the transition to net zero emissions by the mid-century.The pandemic is testing the res

49、ilience of carbon pricing initiatives. Prices in some established ETSs have fallen in line with reduced economic activity resulting from COVID-19 restrictions. Furthermore, some jurisdications have delayed measures to strengthen their carbon pricing instruments andhave extended compliance deadlines

50、due to the restrictions. Key meetingsmost notably COP 26as well as international aviation and maritime meetings, have been postponed, delaying decisions on the rules around international transactions and markets. Additionally, COVID-19 has led to increased uncertainty for the demand for internationa

51、l credits with airlines questioning the impact of COVID-19 on their offsetting obligations under the Carbon Offset and Reduction Scheme for International Aviation (CORSIA).Despite the social and economic upheaval, many jurisdictions and private entities are accelerating their efforts on climate acti

52、on. COP 25 highlighted the urgency and need to ramp up ambition as Parties work on updating their nationally determined contributions (NDCs). Furthermore, the Chilean COP presidency announced that 120 Parties to the United Nations Framework Convention on Climate Change (UNFCCC) are working towards a

53、chieving net zero CO2 emissions by 2050 as part of the Climate Ambition Alliance. As of April 1, 2020, Denmark, France, New Zealand, Sweden and the UK have built on this pledge and enshrined a net zero CO2 emissions target into legislation, while Suriname and Bhutan are already carbon negative.1 In

54、addition, 15 subnational regions, 398 cities, 786 businesses and 16 investors have also indicated that they are working towards achieving net zero emission targets.2Source: Energy and Climate Intelligence Unit, Net Zero Tracker, April 1, 2020, /netzerotracker.Source: UNFCCC, Annex I: Enhanced Ambiti

55、on in National Climate Plans, December 11, 2019, /cop25.cl/documents/ eng/1312+Annex+Alliance+ENGLISH.pdf.Executive Summary 7In 2019, the carbon pricing story has been one of expansion, with jurisdictions broadening their carbon pricing coverage to increase their climate ambition. More jurisdictions

56、 have started to consider complementary carbon pricing initiatives beyond the coverage of their existing carbon pricing systems to reach mitigation targets. For example, in Europe, Germany, Austria, and Luxembourg are planning carbon pricing for sectors not included in the European Union Emissions T

57、rading System (EU ETS), and the EUs Green Deal with its commitment to reach carbon neutrality by 2050, has strengthened the case for wider coverage of carbon pricing. Secondly, the reach of existing carbon pricing initiatives is growing. More sectors and gases are being covered by a carbon price and

58、 thresholds are being lowered to regulate more companies, including in Chile, Iceland, New Zealand and Switzerland. To achieve net zero, many jurisdictions are increasing the use of crediting mechanisms and results-based climate finance (RBCF). Finally, with carbon border adjustments back on the tab

59、le in Europe, countries may be incentivized to proactively implement their own carbon pricing initiatives.As foreshadowed in last years report, the growth in the number of carbon pricing initiatives is largely taking place in the Americas. Mostly driven by Canadas federal carbon pricing approach, 20

60、19 saw a flurry of subnational initiatives emerge across the provinces and territories, complemented by the federal carbon pricing backstop policies. This year also marked the start of the pilot phase of Mexicos national carbon market, representing the first emissions trading system (ETS) in Latin A