At the end of last year, the world’s average price to emit one ton of greenhouse gases was around US$5.29 (AU$7.77). For pricing to work as we want—to wean us off fossil fuels—it needs to be around $75 by the end of the decade, according to the International Monetary Fund.
Viewpoint: The world's carbon price is a fraction of what we need, because only a fifth of global emissions are priced
