Global average annual direct carbon price targets 2023-2050
The global direct carbon price averaged 23.2 U.S. dollars per metric ton of carbon dioxide equivalent (USD/tCO₂e) in 2023. For carbon pricing mechanisms to limit global warming to at least 1.5 degrees Celsius above pre-industrial levels, average carbon prices will need to rise to at least 170 USD/tCO₂e by 2030 and at least 290 USD/tCO₂e by mid-century.