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Emissions-weighted carbon price in emissions trading systems in Iceland

Iceland: Emissions-weighted carbon price in emissions trading systems was 2.68 constant 2021 US$ per tonne of CO₂ equivalents in 2025. ◆ Volatile

Latest (2025)
2.68 constant 2021 US$ per tonne of CO₂ equivalents
Change on year
up 11.5%
World rank
35th
of 200 countries
All-time high
6.1 constant 2021 US$ per tonne of CO₂ equivalents
in 2008
All-time low
0 constant 2021 US$ per tonne of CO₂ equivalents
in 1989
Years of data
37
1989–2025

Emissions-weighted carbon price in emissions trading systems in Iceland, 1989–2025

02461989200720251989: 0 constant 2021 US$ per tonne of CO₂ equivalents1990: 0 constant 2021 US$ per tonne of CO₂ equivalents1991: 0 constant 2021 US$ per tonne of CO₂ equivalents1992: 0 constant 2021 US$ per tonne of CO₂ equivalents1993: 0 constant 2021 US$ per tonne of CO₂ equivalents1994: 0 constant 2021 US$ per tonne of CO₂ equivalents1995: 0 constant 2021 US$ per tonne of CO₂ equivalents1996: 0 constant 2021 US$ per tonne of CO₂ equivalents1997: 0 constant 2021 US$ per tonne of CO₂ equivalents1998: 0 constant 2021 US$ per tonne of CO₂ equivalents1999: 0 constant 2021 US$ per tonne of CO₂ equivalents2000: 0 constant 2021 US$ per tonne of CO₂ equivalents2001: 0 constant 2021 US$ per tonne of CO₂ equivalents2002: 0 constant 2021 US$ per tonne of CO₂ equivalents2003: 0 constant 2021 US$ per tonne of CO₂ equivalents2004: 0 constant 2021 US$ per tonne of CO₂ equivalents2005: 0 constant 2021 US$ per tonne of CO₂ equivalents2006: 0 constant 2021 US$ per tonne of CO₂ equivalents2007: 0 constant 2021 US$ per tonne of CO₂ equivalents2008: 6.1 constant 2021 US$ per tonne of CO₂ equivalents2009: 3.5 constant 2021 US$ per tonne of CO₂ equivalents2010: 3.6 constant 2021 US$ per tonne of CO₂ equivalents2011: 3.1 constant 2021 US$ per tonne of CO₂ equivalents2012: 1.8 constant 2021 US$ per tonne of CO₂ equivalents2013: 1 constant 2021 US$ per tonne of CO₂ equivalents2014: 1.4 constant 2021 US$ per tonne of CO₂ equivalents2015: 1.5 constant 2021 US$ per tonne of CO₂ equivalents2016: 0.376 constant 2021 US$ per tonne of CO₂ equivalents2017: 0.366 constant 2021 US$ per tonne of CO₂ equivalents2018: 0.81 constant 2021 US$ per tonne of CO₂ equivalents2019: 1.1 constant 2021 US$ per tonne of CO₂ equivalents2020: 0.74 constant 2021 US$ per tonne of CO₂ equivalents2021: 1.9 constant 2021 US$ per tonne of CO₂ equivalents2022: 2.5 constant 2021 US$ per tonne of CO₂ equivalents2023: 2.5 constant 2021 US$ per tonne of CO₂ equivalents2024: 2.4 constant 2021 US$ per tonne of CO₂ equivalents2025: 2.7 constant 2021 US$ per tonne of CO₂ equivalents

Source: Dolphin and Merkle (2024) – with minor processing by Our World in Data. Measured in constant 2021 US$ per tonne of CO₂ equivalents.

Analysis

The most recent figure for emissions-weighted carbon price in emissions trading systems in Iceland is 2.68 constant 2021 US$ per tonne of CO₂ equivalents, measured in 2025.

The figure is up 11.5% on the previous year and up 73.4% over ten years.

Over the whole period, emissions-weighted carbon price in emissions trading systems in Iceland peaked at 6.1 constant 2021 US$ per tonne of CO₂ equivalents in 2008 and was at its lowest, 0 constant 2021 US$ per tonne of CO₂ equivalents, in 1989.

That places Iceland 35th out of 200 countries with data for 2025, putting it in the top quarter.

The series is highly variable year to year, so single readings are best treated with caution.

Emissions-weighted carbon price in emissions trading systems in Iceland, year by year

Year constant 2021 US$ per tonne of CO₂ equivalents Change
1989 0 constant 2021 US$ per tonne of CO₂ equivalents —
1990 0 constant 2021 US$ per tonne of CO₂ equivalents —
1991 0 constant 2021 US$ per tonne of CO₂ equivalents —
1992 0 constant 2021 US$ per tonne of CO₂ equivalents —
1993 0 constant 2021 US$ per tonne of CO₂ equivalents —
1994 0 constant 2021 US$ per tonne of CO₂ equivalents —
1995 0 constant 2021 US$ per tonne of CO₂ equivalents —
1996 0 constant 2021 US$ per tonne of CO₂ equivalents —
1997 0 constant 2021 US$ per tonne of CO₂ equivalents —
1998 0 constant 2021 US$ per tonne of CO₂ equivalents —
1999 0 constant 2021 US$ per tonne of CO₂ equivalents —
2000 0 constant 2021 US$ per tonne of CO₂ equivalents —
2001 0 constant 2021 US$ per tonne of CO₂ equivalents —
2002 0 constant 2021 US$ per tonne of CO₂ equivalents —
2003 0 constant 2021 US$ per tonne of CO₂ equivalents —
2004 0 constant 2021 US$ per tonne of CO₂ equivalents —
2005 0 constant 2021 US$ per tonne of CO₂ equivalents —
2006 0 constant 2021 US$ per tonne of CO₂ equivalents —
2007 0 constant 2021 US$ per tonne of CO₂ equivalents —
2008 6.1 constant 2021 US$ per tonne of CO₂ equivalents —
2009 3.48 constant 2021 US$ per tonne of CO₂ equivalents -42.9%
2010 3.56 constant 2021 US$ per tonne of CO₂ equivalents +2.3%
2011 3.09 constant 2021 US$ per tonne of CO₂ equivalents -13.3%
2012 1.82 constant 2021 US$ per tonne of CO₂ equivalents -41.1%
2013 1.01 constant 2021 US$ per tonne of CO₂ equivalents -44.3%
2014 1.39 constant 2021 US$ per tonne of CO₂ equivalents +36.9%
2015 1.54 constant 2021 US$ per tonne of CO₂ equivalents +11.4%
2016 0.3763 constant 2021 US$ per tonne of CO₂ equivalents -75.6%
2017 0.3665 constant 2021 US$ per tonne of CO₂ equivalents -2.6%
2018 0.8105 constant 2021 US$ per tonne of CO₂ equivalents +121.2%
2019 1.13 constant 2021 US$ per tonne of CO₂ equivalents +39.1%
2020 0.7401 constant 2021 US$ per tonne of CO₂ equivalents -34.3%
2021 1.86 constant 2021 US$ per tonne of CO₂ equivalents +150.8%
2022 2.53 constant 2021 US$ per tonne of CO₂ equivalents +36.4%
2023 2.48 constant 2021 US$ per tonne of CO₂ equivalents -2.0%
2024 2.4 constant 2021 US$ per tonne of CO₂ equivalents -3.2%
2025 2.68 constant 2021 US$ per tonne of CO₂ equivalents +11.5%

Iceland compared with similar countries

  • Iceland's 2.68 constant 2021 US$ per tonne of CO₂ equivalents is above the median for high income countries, which is 2.68 constant 2021 US$ per tonne of CO₂ equivalents, 1.0× the median. (67 countries reporting)
  • Iceland's 2.68 constant 2021 US$ per tonne of CO₂ equivalents is below the median for Europe & Central Asia, which is 18.44 constant 2021 US$ per tonne of CO₂ equivalents, 15% of the median. (52 countries reporting)

Averages by decade

DecadeAverage LowestHighest Years
1980s 0 constant 2021 US$ per tonne of CO₂ equivalents 0 constant 2021 US$ per tonne of CO₂ equivalents 0 constant 2021 US$ per tonne of CO₂ equivalents 1
1990s 0 constant 2021 US$ per tonne of CO₂ equivalents 0 constant 2021 US$ per tonne of CO₂ equivalents 0 constant 2021 US$ per tonne of CO₂ equivalents 10
2000s 0.9577 constant 2021 US$ per tonne of CO₂ equivalents 0 constant 2021 US$ per tonne of CO₂ equivalents 6.1 constant 2021 US$ per tonne of CO₂ equivalents 10
2010s 1.51 constant 2021 US$ per tonne of CO₂ equivalents 0.3665 constant 2021 US$ per tonne of CO₂ equivalents 3.56 constant 2021 US$ per tonne of CO₂ equivalents 10
2020s 2.11 constant 2021 US$ per tonne of CO₂ equivalents 0.7401 constant 2021 US$ per tonne of CO₂ equivalents 2.68 constant 2021 US$ per tonne of CO₂ equivalents 6

Countries ranked near Iceland

  1. 32 Luxembourg 11.35 constant 2021 US$ per tonne of CO₂ equivalents compare
  2. 33 South Korea 6.39 constant 2021 US$ per tonne of CO₂ equivalents compare
  3. 34 China 4.72 constant 2021 US$ per tonne of CO₂ equivalents compare
  4. 36 United States 2.23 constant 2021 US$ per tonne of CO₂ equivalents compare
  5. 37 Canada 2.01 constant 2021 US$ per tonne of CO₂ equivalents compare
  6. 38 Kazakhstan 0.5616 constant 2021 US$ per tonne of CO₂ equivalents compare

See the full ranking of 200 places →

More climate change data for Iceland

All data for Iceland →

Frequently asked questions

What is emissions-weighted carbon price in emissions trading systems in Iceland?
Emissions-weighted carbon price in emissions trading systems in Iceland was 2.68 constant 2021 US$ per tonne of CO₂ equivalents in 2025, according to Dolphin and Merkle (2024) – with minor processing by Our World in Data.
What is the highest emissions-weighted carbon price in emissions trading systems recorded in Iceland?
The highest recorded value was 6.1 constant 2021 US$ per tonne of CO₂ equivalents in 2008.
What is the lowest emissions-weighted carbon price in emissions trading systems recorded in Iceland?
The lowest recorded value was 0 constant 2021 US$ per tonne of CO₂ equivalents in 1989.
How does Iceland rank for emissions-weighted carbon price in emissions trading systems?
Iceland ranks 35th out of 200 countries with data for 2025.
Is emissions-weighted carbon price in emissions trading systems rising or falling in Iceland?
Over the last ten years it is up 73.4%. The long-run trend across the full record is volatile.
Where does this Iceland data come from?
The figures come from Dolphin and Merkle (2024) – with minor processing by Our World in Data, published as part of Emissions-weighted carbon price in emissions trading systems. Statizoid updates them automatically from the source API.

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Emissions-weighted carbon price in emissions trading systems in Iceland. Statizoid, drawing on Dolphin and Merkle (2024) – with minor processing by Our World in Data. Retrieved 23 September 2026, from https://climate.statizoid.com/stat/weighted-carbon-price-ets/iceland/

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About this data

Indicator
Emissions-weighted carbon price in emissions trading systems
Unit
constant 2021 US$ per tonne of CO₂ equivalents
Source
Dolphin and Merkle (2024) – with minor processing by Our World in Data
Licence
CC BY 4.0 (Our World in Data)
Coverage
200 places, 7,400 data points, 1989–2025
Last refreshed

This data is expressed in US dollars. It is adjusted for inflation but does not account for differences in the cost of living between countries.