Countries around the world raised $53 billion last year by charging firms for emitting carbon dioxide (CO2), up almost 18% from 2019 as some imposed new levies and prices in some existing schemes rose, the World Bank said in a report on Tuesday.

Many countries are using a price on carbon to help meet their climate goals in the form of a tax or under an emissions trading (ETS), or cap-and-trade, system. 

The world's seven largest advanced economies last week recognised the role carbon pricing can play in driving innovation and new technology to hit net zero emissions. 

"Despite the social and economic upheaval caused by COVID-19, jurisdictions and companies have not wavered in their commitment to fighting climate change," the report said.