Key facts
- Carbon-pricing systems now cover about 30% of global emissions, double the 2020 level.
- India plans to include steel in its emissions-trading system from 2027.
- Vietnam is also starting to cap emissions from heavy polluters.
Emerging markets double reach of world's carbon-pricing measures
IN SHORT
Carbon-pricing systems designed to curb greenhouse gas emissions are spreading across emerging economies, now covering approximately 30% of global emissions. This represents a doubling of coverage since 2020. Countries like India and Vietnam are implementing these measures, targeting heavy polluters in sectors such as steel and cement.
Key Numbers
30%global emissions covered by carbon-pricing systems
2020year coverage was half current level
Who's Involved
India
plans to include steel in its emissions-trading system from 2027
Vietnam
starting to cap emissions from heavy polluters
JFE Holdings
part owner of an Indian steel mill
JFE Engineering
to use Nobel-winning material for carbon capture
↳ Why This Matters
The expansion of carbon pricing into emerging markets means that a larger portion of global industrial output is subject to costs associated with emissions, potentially impacting commodity prices, corporate profitability, and investment flows into these sectors.