Briefing Paper – Climate Finance, Carbon Pricing, and Data Disclosure

The briefing examines the climate policy landscapes of the U.S. and China, noting that while the U.S. lacks a national carbon price, it has significant subnational activity. China has established the world's largest emissions trading scheme (ETS) but maintains that it is not obligated to provide international climate finance as a developing nation. Both countries are advancing corporate climate disclosure rules, though they differ on the requirement for Scope 3 emissions. The paper suggests cooperation on sustainable procurement, data standards for emission accounting, and subnational carbon market exchanges.

• The United States has not established a mandatory nationwide carbon pricing mechanism due to political polarization and concerns over economic impacts on fossil-fuel-dependent regions, though 13 states have implemented effective programs covering over 25% of the population.
• China's national Emission Trading Scheme (ETS), launched in 2021, is the world's largest and currently covers the power sector, which accounts for nearly half of China's CO2 emissions.
• China maintains that it is not obligated to provide international climate finance under the principle of "Common but Differentiated Responsibilities," viewing itself as a developing country eligible to receive support.
• U.S. federal climate disclosure rules from the SEC mandate Scope 1 and 2 emissions reporting for larger public companies if financially material, but they exclude Scope 3 emissions and are currently stayed by a federal court.
• California has implemented stringent subnational disclosure laws (SB 253 and SB 261) effective in 2026, requiring companies with revenues over $1 billion to disclose Scope 1, 2, and 3 emissions; this is estimated to affect 73% of Fortune 1000 companies.
• China has reactivated the China Certified Emission Reduction (CCER) scheme in January 2024, limiting carbon credits to projects in afforestation, solar thermal power, offshore wind power generation, and mangrove planting.
• The U.S. State Department projects that President Biden's goal of $11.4 billion in international climate financing by 2024 will be achieved, though the U.S. is criticized for providing less support than European counterparts.

APA

World Resources Institute (n.d.). Briefing Paper – Climate Finance, Carbon Pricing, and Data Disclosure. https://files.wri.org/d8/s3fs-public/2024-07/2024-climate-finance-carbon-pricing-briefing-EN.pdf

Chicago

World Resources Institute. Briefing Paper – Climate Finance, Carbon Pricing, and Data Disclosure. n.d. https://files.wri.org/d8/s3fs-public/2024-07/2024-climate-finance-carbon-pricing-briefing-EN.pdf.

Wikipedia

{{cite report |author=World Resources Institute |title=Briefing Paper – Climate Finance, Carbon Pricing, and Data Disclosure |url=https://files.wri.org/d8/s3fs-public/2024-07/2024-climate-finance-carbon-pricing-briefing-EN.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{worldresourcesinstitutendbriefing, author = {{World Resources Institute}}, title = {{Briefing Paper – Climate Finance, Carbon Pricing, and Data Disclosure}}, institution = {World Resources Institute}, url = {https://files.wri.org/d8/s3fs-public/2024-07/2024-climate-finance-carbon-pricing-briefing-EN.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }