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  "documentTitle": "ey e book the green transition",
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      "text": "17.5% of global GHG emissions",
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      "text": "Two principal forms of carbon pricing schemes are ETSs and carbon taxes. An ETS — or cap-and-trade system — limits the total amount of GHG emissions... A carbon tax does the opposite. It directly sets a price on carbon.",
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      "text": "In addition to geographical fragmentation, ETS schemes operate at different levels of government... The introduction of big schemes, such as China's national ETS, point to the potential for real progress.",
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      "text": "In 2022, ETSs accounted for almost nine gigatons (Gt) of CO2e, representing 17.5% of global GHG emissions.",
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      "text": "However, while France sets a carbon tax of US$49/ton CO2e, Poland's is less than US$1/ton CO2e. The same is true with ETS where the price of emissions allowances traded in 2023 was US$96.3/ton CO2e, while that of China was US$8.15/ton CO2e.",
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      "text": "Equitable carbon pricing fosters both innovation and emissions reduction. Integrating carbon price scenarios into long-term business plans will be crucial to adapt to future developments. Companies that proactively prepare can gain a competitive advantage through decarbonization, driving the wider value sustainability can create and protect through their business model and strategy. — Amy Brachio, EY Global Vice Chair - Sustainability",
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      "text": "28. Pricing Carbon, World Bank. 29. Carbon Pricing Dashboard. 30. In-depth Q&A: China's ETS. 31. CDP. 32. Lessons from first campus carbon-pricing.",
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