Carbon pricing revenues reached a record $104 billion in 2023, with over half of the collected revenue being used to fund climate and nature-related programmes, according to the World Bank's latest State and Trends of Carbon Pricing report. 'Carbon pricing can be one of the most powerful tools to help countries reduce emissions. That's why it is good to see these instruments expand to new sectors, become more adaptable and complement other measures,' Axel van Trotsenburg, Senior Managing Director at the World Bank, said. However, the report's authors point out that less than 1% of global emissions are currently subject to a direct carbon price at or above what is recommended by the High-level Commission on Carbon Prices to limit global temperature rise to well below 2'C. Speaking at an energy conference in Cape Town, the company's chief executive, Dan Marokane, said Eskom was engaging with groups currently helping to fund its switch to greener power about delaying the closure of...
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