Economic value of carbon in G20 members: gathering experiences and making recommendations

As of 2022, 79 countries, states, provinces, and cities worldwide had adopted carbon-pricing policies, but ongoing initiatives together covered only about a fifth of global GHG emissions. As the G20 economies were estimated to account for around 80 per cent of global greenhouse gas emissions, they had the potential to catalyse climate action globally.

adelphi was commissioned by the UNDP to develop a report taking stock of experience with various measures to impose an economic value on GHG emission reductions for the G20 Climate Sustainability Working Group (CSWG) under the Indonesia Presidency 2022. The report focuses on carbon pricing instruments in G20 members, reviews their experiences with and approaches to implementation and provides recommendations for the dissemination of these instruments, as well as other measures for utilising the economic value of carbon to accelerate the sustainability transition towards low GHG emissions and a climate-resilient future in G20 countries and globally.