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
ShutterstockAt 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...