Traders of Environmental Progress
STX Group is a global environmental commodities trader offering physical and financial solutions across compliance and voluntary systems for energy, fuels, gas and carbon markets.
Traders of Environmental Progress
STX Group is a global environmental commodities trader offering physical and financial solutions across compliance and voluntary systems for energy, fuels, gas and carbon markets.
Emissions trading in safe hands
Vertis, a MiFID II trading firm, supports companies in navigating through carbon compliance schemes, including different EU Emissions Trading Systems, CBAM and CORSIA, in a cost-effective way
Report
On May 19, the World Bank released its annual State and Trends of Carbon Pricing 2026 report , one of the most comprehensive analyses of the evolution of global carbon markets, carbon pricing mechanisms over the past decade. The report confirms a clear trend: carbon pricing is becoming an increasingly central tool in the global transition to a low-carbon economy.
At Vertis Environmental Finance, these are some of the most relevant insights shaping the future of the carbon market
Carbon Prices Continue to Diverge Across Regions
The report highlights significant differences in average carbon prices depending on geography and income level, underlining the uneven pace of global carbon market development.
While Europe continues to lead in carbon pricing ambition, emerging economies are gradually expanding their participation in emissions trading systems (ETSs) and carbon tax frameworks.
Carbon Pricing Revenues Surpassed US$107 Billion
In 2025, government revenues generated from ETSs and carbon taxes increased by 2%, exceeding US$107 billion globally.
As jurisdictions continue refining their compliance markets, the economic significance of regulated carbon systems is expected to grow substantially over the coming years.
CORSIA Credits Continue to Trade at a Premium
One of the most notable developments in the report concerns the evolution of the aviation sector’s compliance market under International Civil Aviation Organization’s CORSIA framework.
Since September 2025, CORSIA-eligible credits have traded between US$15 and US$22/tCO2e, significantly above the price range of most other carbon credit categories, which generally trade between US$1 and US$14/tCO2e.
Additional highlights include:
The relatively limited retirement volume reflects ongoing supply constraints, particularly regarding the availability of correspondingly adjusted carbon credits.
Nonetheless, the data suggests increasing market confidence in the long-term role of high-integrity aviation carbon credits within international compliance markets.
The EU CBAM Is Influencing Global Climate Policy
Although the European Union’s Carbon Border Adjustment Mechanism (CBAM) currently covers only around 0.5% of global GHG emissions, its policy impact is already extending far beyond Europe.
According to the report, CBAM is encouraging several EU trade partners to accelerate the implementation of domestic carbon pricing systems, including:
At the same time, policy makers in Australia, Canada, and Taiwan are actively considering similar border carbon adjustment (BCA) measures for selected imports.
This signals a broader transformation in international trade, where carbon competitiveness is becoming increasingly important for exporters and industrial sectors worldwide.
The World Bank’s latest findings confirm that global carbon markets are entering a new phase of maturity. From rising carbon revenues to the expansion of compliance mechanisms such as CORSIA and CBAM, carbon pricing is rapidly becoming a defining element of international economic policy.
News
The connection between Hormuz and the carbon market is indirect but clear: an energy shock raises gas prices, changes the energy mix, and limits economic activity, lea.....
