Climate change is one of the defining challenges of our time, but today we have an historic opportunity to change course.   The global carbon pricing revenue in 2021 increased by almost 60 percent from 2020 levels, to around $84 billion, providing an important source of funds to help support a sustainable economic recovery, finance broader fiscal reforms, or invest in communities as part of the low-carbon transition future.

Required

1. Discuss the role of the carbon market in promoting climate finance 
2. Discuss various instruments that modern companies can utilize in climate finance  
3. From the perspective of the efficient market, hypothesis discuss the merits of fragmented carbon market visa vis integrated carbon market