R&D spending needs to increase

Carbon pricing initiatives are expanding outside the EU, but aggregate coverage is still less than one sixth of global emissions. The share of global emissions covered by EU initiatives is much higher than by any other economy.

Many countries have followed the European lead in establishing carbon pricing. There is still a long way to go before global coverage matches the EU share of emissions covered. Policy needs to ensure a level playing field across regions and industries.

Source: OECD