Revenues from Carbon Pricing across the world rose by 60% in 2021, hitting $84 billion for the year, according to a new report from the World Bank. As emission trading schemes start taking over from conventional carbon taxes, the future success of this financial stick will depend on how effectively border adjustment mechanisms can be deployed or how quickly the world can settle on a unanimous floor price for emissions. In its report, entitled States and Trends of Carbon Pricing, the World Bank detailed 68 operational pricing policies that directly target carbon emissions: 36 carbon taxes and 32 Emissions Trading Schemes (ETSs). Four new instruments were implemented over the past year, including one in Uruguay and three in North America…