In response to sluggish progress on effective international action,
national carbon pricing initiatives for the aviation sector have been popping up recently to ensure airlines pay for their pollution.
According to the World Bank's just - released Carbon Pricing Watch 2017, the number
of carbon pricing initiatives worldwide has almost doubled over the past five years.
In November, the World Bank announced that the value of
global carbon pricing initiatives, such as California's cap - and - trade system, is now $ 52 billion and growing by 7 percent each year.
«Developments in the Americas have been particularly prominent; of the eight
new carbon pricing initiatives launched since the beginning of 2016, six came from this region.
Together,
these carbon pricing initiatives cover about 7 gigatons of carbon dioxide equivalent (GtCO2e), or
Together,
these carbon pricing initiatives cover about 7 gigatons of carbon dioxide equivalent (GtCO2e), or about 13 percent of annual global GHG emissions.