CARBON pricing is fast becoming a contemporary buzzword, with the adoption of carbon pricing instruments (CPIs) having grown significantly since 2010. While these instruments were confined, mostly, to European nations back then, today some 46 national jurisdictions operate in the presence of some form of carbon pricing regime. Developing countries are also showing an interest in their implementation; the World Bank indicates that Brazil, Indonesia, Morocco, Thailand, Turkey, Vietnam — and indeed Malaysia — have announced that either a carbon tax or emissions trading scheme (or in some cases, a combination of both) is on the policy horizon