Navigating Carbon Pricing Policies Assessing The Efficacy And Practicality Of Carbon Tax And Emission Trading Schemes For Climate Change Mitigation
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Author | : Armstrong Odiwuor |
Publisher | : GRIN Verlag |
Total Pages | : 18 |
Release | : 2024-05-24 |
Genre | : Business & Economics |
ISBN | : 3389026592 |
Essay from the year 2022 in the subject Business economics - Accounting and Taxes, grade: 97, Free University of Berlin (Business Administration and Management), course: Business Management, Marketing, language: English, abstract: Carbon pricing, encompassing carbon tax (CAT) and emission trading schemes (ETS), stands at the forefront of climate change mitigation policies. This paper critically examines the effectiveness and practicality of these policies, particularly in reducing carbon emissions. Drawing from existing literature, it argues that carbon tax offers significant advantages over ETS in terms of practical implementation, environmental impact, and economic efficiency. However, it acknowledges the complexities and challenges associated with both approaches. One key aspect analyzed is the certainty regarding cost and benefits of abating carbon emissions. Carbon tax provides a relatively stable pricing mechanism, simplifying cost determination, while ETS offers more certainty about emission reductions and associated benefits. The paper discusses the trade-offs between these two approaches based on the shape of marginal cost and benefit functions, as proposed by Weitzman (1974). Revenue generation and utilization are also examined, revealing that carbon taxes tend to raise more revenue compared to ETS due to differences in pricing mechanisms. Effective utilization of these revenues is crucial for economic efficiency and addressing distributional concerns. Additionally, administrative requirements and political factors influencing policy adoption and design are discussed. The paper also evaluates China's carbon pricing landscape in China, highlighting the challenges faced by its ETS program and proposing a hybrid approach incorporating carbon taxes. Such a hybrid system aims to address administrative burdens while ensuring broader coverage of carbon pricing across sectors and industries. In conclusion, while both carbon tax and ETS have their merits, carbon tax emerges as a more practical and effective option. However, the paper suggests that a hybrid approach, tailored to specific contexts like China, could offer a viable solution to carbon emission reduction challenges. Overall, the paper contributes to the ongoing discourse on carbon pricing policies and their implications for climate change mitigation efforts.
Author | : Larry Kreiser |
Publisher | : Edward Elgar Publishing |
Total Pages | : 256 |
Release | : 2015-08-28 |
Genre | : Law |
ISBN | : 178536023X |
Carbon Pricing reflects upon and further develops the ongoing and worthwhile global debate into how to design carbon pricing, as well as how to utilize the financial proceeds in the best possible way for society. Ê The world has recently witnesse
Author | : Mr. Simon Black |
Publisher | : International Monetary Fund |
Total Pages | : 24 |
Release | : 2022-07-21 |
Genre | : Business & Economics |
ISBN | : |
Carbon pricing should be a central element of climate mitigation strategies, helping countries transition to ‘net zero’ greenhouse gas emissions over the next three decades. Policymakers considering introducing or scaling up carbon pricing face technical choices between carbon taxes and emissions trading systems (ETSs) and in their design. This includes administration, price levels, relation to other mitigation instruments, use of revenues to address efficiency and distributional objectives, supporting measures to address competitiveness concerns, extension to broader emissions sources, and coordination at the global level. Political economy considerations also affect the choice and design of instruments. This paper discusses such issues in the choice between and design of carbon taxes and ETSs, providing guidance, broader considerations, and quantitative analyses. Overall, carbon taxes have significant practical advantages over ETSs (especially for developing countries) due to ease of administration, price certainty to promote investment, the potential to raise significant revenues, and coverage of broader emissions sources—but ETSs can have significant political economy advantages.
Author | : John Quiggin |
Publisher | : Edward Elgar Publishing |
Total Pages | : 209 |
Release | : 2014-04-25 |
Genre | : Business & Economics |
ISBN | : 1782547746 |
In 2012, Australia took the major step of introducing a carbon price, involving the creation of a system of emissions permits initially issued at a fixed price. Carbon Pricing brings together experts instrumental in the development, and operation, of A
Author | : World Bank World Bank |
Publisher | : World Bank Publications |
Total Pages | : 140 |
Release | : 2014-05-28 |
Genre | : Carbon offsetting |
ISBN | : 1464802688 |
The report is a one stop shop for learning about key developments and prospects of existing and emerging carbon initiatives. A challenging international carbon market has not stopped the development of domestic carbon pricing initiatives. Today, about 40 national and over 20 sub-national jurisdictions responsible for almost one fourth of global greenhouse gas emissions are putting a price on carbon. Together, these initiatives cover the equivalent of almost 6 gigatons of carbon dioxide, or about 12% of global emissions.
Author | : Ian Parry |
Publisher | : Routledge |
Total Pages | : 303 |
Release | : 2015-02-11 |
Genre | : Business & Economics |
ISBN | : 1317602072 |
Although the future extent and effects of global climate change remain uncertain, the expected damages are not zero, and risks of serious environmental and macroeconomic consequences rise with increasing atmospheric greenhouse gas concentrations. Despite the uncertainties, reducing emissions now makes sense, and a carbon tax is the simplest, most effective, and least costly way to do this. At the same time, a carbon tax would provide substantial new revenues which may be badly needed, given historically high debt-to-GDP levels, pressures on social security and medical budgets, and calls to reform taxes on personal and corporate income. This book is about the practicalities of introducing a carbon tax, set against the broader fiscal context. It consists of thirteen chapters, written by leading experts, covering the full range of issues policymakers would need to understand, such as the revenue potential of a carbon tax, how the tax can be administered, the advantages of carbon taxes over other mitigation instruments and the environmental and macroeconomic impacts of the tax. A carbon tax can work in the United States. This volume shows how, by laying out sound design principles, opportunities for broader policy reforms, and feasible solutions to specific implementation challenges.
Author | : Mikael Skou Andersen |
Publisher | : Oxford University Press |
Total Pages | : 342 |
Release | : 2009-10-29 |
Genre | : Business & Economics |
ISBN | : 019957068X |
This book offers an extensive analysis of carbon-energy taxation that addresses the interplay between carbon-energy taxation and emissions trading, as well as the implications for future international climate policy.
Author | : Bikal Dhungel |
Publisher | : GRIN Verlag |
Total Pages | : 15 |
Release | : 2015-09-03 |
Genre | : Business & Economics |
ISBN | : 3668040222 |
Seminar paper from the year 2015 in the subject Economy - Environment economics, grade: Very good ( German: 1,6), University of Glasgow (Adam Smith Business School), course: Sustainable Development, language: English, abstract: Following the introduction, important terms will be defined. Arguments about the advantages and disadvantages of both approaches will be discussed briefly, followed by a closer look into some scholarly evidence.
Author | : OECD |
Publisher | : OECD Publishing |
Total Pages | : 174 |
Release | : 2016-09-26 |
Genre | : |
ISBN | : 9264260110 |
This report presents the first full analysis of the use of carbon pricing on energy in 41 OECD and G20 economies, covering 80% of global energy use and of CO2 emissions.
Author | : Lawrence A. Kreiser |
Publisher | : Edward Elgar Publishing |
Total Pages | : 305 |
Release | : 2012-01-01 |
Genre | : Business & Economics |
ISBN | : 1781952191 |
ïThe scope, depth and persistence with which this book explores carbon pricing is admirable, reflecting that despite political reluctance it is a topic in all parts of the world.Í _ Mikael Skou Andersen, Aarhus University, Denmark and European Environment Agency ïEnvironmental taxation and emissions trading continue to be high on the public policy agenda in many countries, and this is another welcome and very interesting volume in the Critical Issues in Environmental Taxation series that presents new ideas and evidence on these subjects from a wide range of countries and a variety of perspectives.Í _ Paul Ekins, University College London, UK This original and timely volume provides unique insights and analysis on the pressing question of how to achieve environmental sustainability while fostering economic growth. The emphasis of the book lies in finding critical solutions to global climate change including chapters on environmental fiscal reform and unemployment in Spain, EU structural and cohesion policy and sustainable development, ecological tax reform in Europe and Asia, AustraliaÍs carbon pricing mechanism, and many other timely topics. This insightful volume will appeal to policy makers in government as well as academics and students in environmental law, environmental economics and environmental sustainability.