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The world's carbon price is a fraction of what we need – because only a fifth of global emissions are priced

  • Written by: Bei Cui, Research fellow, Monash University
The world's carbon price is a fraction of what we need – because only a fifth of global emissions are pricedShutterstock

At the end of last year, the world’s average price to emit one tonne of greenhouse gases was around US$5.29 (AU$7.77). For pricing to work as we want – to wean us off fossil fuels – it needs to be around $75 by the end of the decade, according to the International Monetary Fund.

Why is the price still so low? Because...

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