Carbon pricing is spreading quickly in emerging markets. According to Nikkei Asia, these systems now cover about 30% of global emissions, double the share in 2020. India is set to include steel in its emissions-trading scheme from 2027, and Vietnam is moving to cap steel and cement producers. The shift matters because emissions growth is concentrated in developing economies. If India and Vietnam can make carbon pricing work for heavy industry, it creates a blueprint for other countries that have resisted broad climate regulation. The article also raises open questions about price levels, exemptions, and enforcement, so it's worth reading for anyone tracking carbon market design.
