Fifteen countries make a lot of money from their carbon taxes

Carbon taxes are a relatively new tool that world governments are using to try and solve the growing climate crisis. But some countries are making a lot of revenue from their tax schemes. Let’s look at what the top fifteen nations bring in. 

A carbon tax is essentially a fee being imposed on the burning of fossil fuels such as oil, gas, and coal. The tax is meant to reduce and someday eliminate the use of fossil fuels by making users pay for their use according to the Carbon Tax Center.  

“If set high enough,” the Carbon Tax Center explained, “it becomes a powerful monetary disincentive that motivates switches to clean energy across the economy… by making it more economically rewarding to move to non-carbon fuels and energy efficiency.”

According to the United Nations Framework Convention on Climate Change, at least 40 different countries and 26 sub-national jurisdictions have put a price on carbon that has covered roughly 8 gigatons of emissions, about 15% of the world's total.  

Understanding the various ways carbon is being priced and taxed around the world can be difficult but the World Bank collected data on global carbon revenues in 2022 and Visual Capitalist used that data to work out what the top fifteen countries were making in carbon taxes. 

Tens of billions were made in carbon tax revenue by the top fifteen countries and you might be surprised by the two countries that collected the most carbon tax revenue. So which two countries made the most? Let’s find out. 

Government carbon tax revenue: $0.1 billion

Photo by Den Harrson on Unsplash

Government carbon tax revenue: $0.1 billion

Photo by Rogan Yeoh on Unsplash

Government carbon tax revenue: $0.2 billion

Government carbon tax revenue: $0.3 billion

Government carbon tax revenue: $0.5 billion

Government carbon tax revenue: $0.5 billion

Government carbon tax revenue: $0.7 billion

Photo by Tommy Bond on Unsplash

Government carbon tax revenue: $0.9 billion

Government carbon tax revenue: $1.6 billion

Government carbon tax revenue: $1.7 billion

Government carbon tax revenue: $1.8 billion

Photo by Roméo A. on Unsplash

Government carbon tax revenue: $2.1 billion

Government carbon tax revenue: $2.3 billion

Government carbon tax revenue: $7.8 billion

Government carbon tax revenue: $8.9 billion