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Real Carbon Price Index

The global benchmark for carbon pricing

The price of carbon emissions is a key driver in the global transition to a cleaner future.
However, carbon prices vary widely across different jurisdictions, and global trends have been obfuscated.


The Real Carbon Price Index has been developed to bring greater clarity to policy-makers, researchers, investors, and the public at large.

This project is the result of an international collaboration of experts in carbon markets and financial indices.
It is published alongside open-source data and methodology.

You can access our methodology and future data releases by subscribing to our updates.


About Us

Our Collaboration

Our three organisations share a concern for the climate crisis, and while there are many ways to contribute to this cause, we have a shared appreciation for the importance of putting a price on pollution.


To that end, we have partnered with the intent of providing a transparent and methodologically rigorous instrument to measure the evolution of the global carbon price over time. 
As a collaboration across sectors, we have sought to meet the diverse needs of global stakeholders.
We believe the resulting product is useful, reliable, and well-positioned for future developments in carbon pricing.

The Real Carbon Price Index allows individuals and organisations to understand the costs around remediating their impact. It allows policymakers, regulators and governments to benchmark their position and progress. It shows who the leaders and laggards are when it comes to climate change and sets base levels for new entrants and new activities.

You will be able to read more about our methodology in our white paper, available here.

Please subscribe to be notified when the Index has been updated, and receive our additional research and insights. You can contact us at: 

About Us

The Research Team

The team behind the Real Carbon Price Index came together in a perfect storm.

Jan Ahrens from SparkChange is an acknowledged expert on emissions trading, carbon pricing and the energy markets.

Roger Cohen from C2Zero has over 20 years of experience working with indices across financial markets.

The team from MCFS – Ummul Ruthbah, Bei Cui and Nga Pham – with access to data and vast experience in big data analysis, visualisation and communication provide the analytics and rigour behind the Index.

Backed by Thomas Lingafelter, Chris Cruzado (C2Zero), Huy Nguyen, and Professor Deep Kapur (MCFS), plus many meetings at odd hours to facilitate the time zone differences across Australia and Europe, the Real Carbon Price Index is putting the pressure on polluters.

Supported By


Dr. Bei Cui

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Research Fellow, Monash Centre for Financial Studies


Jan Ahrens

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Head of Research, SparkChange


Dr. Nga Pham

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Research Fellow, Monash Centre for Financial Studies


Dr. Roger Cohen

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Founder and CEO, C2Zero


Dr. Ummul Ruthbah

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Senior Research Fellow, Monash Centre for Financial Studies


Chris Cruzado

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Professor Deep Kapur

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Monash Centre for
Financial Studies


Tom Lingafelter

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Research Assistant,
Monash Centre for 

Financial Studies

The Collaborating Organisations

The Monash Centre for Financial Studies

A research centre based within Monash University's Monash Business School, Australia, the MCFS aims to bring academic rigour into researching issues of practical relevance to the financial industry. Additionally, through its engagement programs it facilitates two-way exchange of knowledge between academics and practitioners. The Centre’s developing research agenda is broad but has a current concentration on issues relevant to the asset management industry, including retirement savings, sustainable finance and technological disruption.

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C2Zero is on a mission to eliminate carbon emissions. They partner with forward-thinking brands to attach Emissions Allowances to everyday products and give people the chance to use their buying power to stop polluters in their tracks.
The team is led by Dr. Roger Cohen, who has brought his expertise in the development of financial indices to this project.

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SparkChange is a provider of specialist carbon investment products and data, enabling investors to achieve both positive environmental impact and financial returns. The company was established by experts in environmental products and scalable technologies to set a new standard in carbon investing.

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