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The World Bank’s “State and Trends of Carbon Pricing 2024” report highlights that CP revenues surpassed USD 100 billion in 2023, with 75 global CP instruments covering 24% of global greenhouse gas emissions. Brazil, India, and Türkiye have made significant strides in CP implementation, while China and India lead in carbon credit issuances. Carbon pricing attaches costs to greenhouse gas emissions, primarily through CO2 pricing mechanisms.