Carbon markets proliferate worldwide — report

The text highlights the global expansion of emissions trading systems, with 36 such systems in operation worldwide generating $74 billion in revenue last year. Washington state's carbon market was among the new systems launched in 2023, contributing to a significant growth trend in cap-and-trade markets. The International Climate Action Partnership emphasized the urgency of addressing climate change and the effectiveness of carbon pricing as a tool for climate policy. The report notes that nearly one-third of the world's population now resides in areas covered by emissions trading systems, including both economywide and sector-specific markets like California and the Regional Greenhouse Gas Initiative.

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