Conclusion
Global carbon pricing will not allow the 2 °C by the end of the century

It is very difficult to be optimistic in 2018 about the role of carbon pricing in reducing global GHG emissions and staying below the 2°C variation in average temperature by the end of the century.

Active carbon pricing systems in 2018 are very different from one another, and it is impossible to properly assess the overall impact of ETSs and taxes on GHG reductions over the longer or shorter term.

What's more, posted and forecast carbon prices are generally below the carbon prices needed to meet the COP21 target.

Finally, none of the major fossil fuel-producing countries is deploying, or planning to deploy, carbon pricing on its territory between now and 2020-2030. Only countries that are large consumers of fossil fuels and not producers of fossil fuels (such as Europe) have carbon pricing, with the hope that these countries can turn carbon pricing into an economic lever for...