Ioli Kynigou writing in New Civil Engineer suggests global carbon tax could be an ethical solution to the world’s.
image for illustration only – Open Government Licence v3.0
Ioli Kynigou in New Civil Engineer writes:
According to the IMF, today nearly 50 countries have carbon pricing schemes in place. Some countries applied an energy tax regardless of whether the energy originates from a renewable or a scarce resource. Some governments even subsidise the production and consumption of hydrocarbons rather than taxing it.
The efficacy of any energy related pricing mechanism in decarbonising economies is therefore worth investigation.
Historically, people experienced indirect forms of energy tax on the use of candles and windows. The Window Tax was withdrawn in 1851….
Today, a carbon tax is paid by each vehicle…
The Africa Climate Summit in September 2023 was also in favour of a global carbon taxation regime…
The consequent risks are borne by both the organisations and governments….
Subsequently, the success of any carbon pricing mechanism will depend on the following characteristics:
- Fairness…
- Simplicity…
- Flexibility…
- Efficacy:…
