Source: State and trends of carbon pricing 2015, World Bank Group, Washington , D.C.
Global dynamics of climate protection. Europe is not alone
Myth
As long as a new coal-fired power plant is opened every week in China, our contribution to climate protection is negligible. Higher taxes on fossil energy sources and carbon pricing only make sense in an international pact.
Facts
The coal boom in China – leading carbon dioxide emitter in the world – is about to end. The utilized capacity of Chinese coal-fired power stations dropped in 2014. The approval of carbon pricing mechanisms is increasing in many countries.
- ETS implemented or scheduled for implementation
- Carbon tax implemented or scheduled for implementation
- ETS or carbon tax under consideration
- ETS and carbon tax implemented or scheduled
- ETS implemented or scheduled, tax under consideration
- Carbon tax implemented or scheduled, ETS under consideration
Europe’s leadership in acting against global warming is long gone. Europe is losing ground in the technology innovation race for energy transition. Many countries, regions and cities are considering or already implemented carbon taxes, pricing regimes or emission trading systems. Sweden, for instance, has been successful for many years with a carbon taxing system. In 2014 the carbon price for a household was 125 euros per ton. Greenhouse gas emissions have fallen by 23 per cent since 1990, while the economy recorded a growth of 58 per cent in the same period. Likewise the development of China is remarkable: A policy change with regard to coal use in the energy sector can be observed. Higher emission standards will have an impact on the energy mix and emissions. With an installed wind capacity of 115.4 GW China has become the global leader in wind power.
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