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Wikipedia

Carbon tax

May 04, 2023

A carbon tax is a tax levied on the carbon emissions required to produce goods and services. Carbon taxes are intended to make visible the "hidden" social costs of carbon emissions, which are otherwise felt only in indirect ways like more severe weather events. In this way, they are designed to reduce carbon dioxide (CO
2) emissions by increasing prices of the fossil fuels that emit them when burned. This both decreases demand for goods and services that produce high emissions and incentivizes making them less carbon-intensive.[1] In its simplest form, a carbon tax covers only CO2 emissions; however, it could also cover other greenhouse gases, such as methane or nitrous oxide, by taxing such emissions based on their CO2-equivalent global warming potential.[2] When a hydrocarbon fuel such as coal, petroleum, or natural gas is burned, most or all of its carbon is converted to CO
2. Greenhouse gas emissions cause climate change, which damages the environment and human health. This negative externality can be reduced by taxing carbon content at any point in the product cycle.[3][4][5][6] Carbon taxes are thus a type of Pigovian tax.[7]

A coal-fired power plant in Luchegorsk, Russia. A carbon tax would tax the CO2 emitted from the power station.

Research shows that carbon taxes effectively reduce emissions.[8] Many economists argue that carbon taxes are the most efficient (lowest cost) way to tackle climate change.[9][10][11][12][13] Seventy-seven countries and over 100 cities have committed to achieving net zero emissions by 2050.[14][8] As of 2019, carbon taxes have been implemented or scheduled for implementation in 25 countries,[15] while 46 countries put some form of price on carbon, either through carbon taxes or emissions trading schemes.[16]

On their own, carbon taxes are usually regressive, since lower-income households tend to spend a greater proportion of their income on emissions-heavy goods and services like transportation than higher-income households. To make them more progressive, policymakers can try to redistribute the revenue generated from carbon taxes to low-income groups by lowering income taxes or offering rebates,[17] then as part of the politics of climate change the overall policy initiative can be referred to as a carbon fee and dividend, rather than a tax.[18]

A carbon tax as well as carbon emission trading is used within the carbon price concept.

Background

Carbon dioxide is one of several heat-trapping greenhouse gases (others include methane and water vapor) emitted as a result of human activities. The scientific consensus is that human-induced greenhouse gas emissions are the primary cause of global warming,[19] and that carbon dioxide is the most important of the anthropogenic greenhouse gases.[20] Worldwide, 27 billion tonnes of carbon dioxide are produced by human activity annually.[21] The physical effect of CO2 in the atmosphere can be measured as a change in the Earth-atmosphere system's energy balance – the radiative forcing of CO2.[22] Different greenhouse gases have different physical properties: the global warming potential is an internationally accepted scale of equivalence for other greenhouse gases in units of tonnes of carbon dioxide equivalent.

David Gordon Wilson first proposed a carbon tax in 1973.[23]

Economic theory

See also: Carbon tax § Alternatives

Economists like to argue, about climate change as much as anything else. ... But on the biggest issue of all, they nod in agreement, whatever their political persuasion. The best way to tackle climate change, they insist, is through a global carbon tax.

— The Economist, 28 November 2015[24]

A carbon tax is a form of pollution tax.[25] Unlike classic command and control regulations, which explicitly limit or prohibit emissions by each individual polluter,[26] a carbon tax aims to allow market forces to determine the most efficient way to reduce pollution.[27] A carbon tax is an indirect tax—a tax on a transaction—as opposed to a direct tax, which taxes income. Carbon taxes are price instruments since they set a price rather than an emission limit.[28] In addition to creating incentives for energy conservation, a carbon tax puts renewable energy such as wind, solar and geothermal on a more competitive footing.

In economic theory, pollution is considered a negative externality, a negative effect on a third party not directly involved in a transaction, and is a type of market failure. To confront the issue, economist Arthur Pigou proposed taxing the goods (in this case hydrocarbon fuels), that were the source of the externality (CO
2) so as to accurately reflect the cost of the goods to society, thereby internalizing the production costs. A tax on a negative externality is called a Pigovian tax, which should equal the cost.

Within Pigou's framework, the changes involved are marginal, and the size of the externality is assumed to be small enough not to distort the economy.[29] Climate change is claimed to result in catastrophe (non-marginal) changes.[30][31] "Non-marginal" means that the impact could significantly reduce the growth rate in income and welfare. The amount of resources that should be devoted to climate change mitigation is controversial.[30] Policies designed to reduce carbon emissions could have a non-marginal impact, but are asserted to not be catastrophic.[32]

Two common economic alternatives to carbon taxes are tradable permits/credits and subsidies.

Carbon leakage

Carbon leakage happens when the regulation of emissions in one country/sector pushes those emissions to other places that with less regulation.[33] Leakage effects can be both negative (i.e., increasing the effectiveness of reducing overall emissions) and positive (reducing the effectiveness of reducing overall emissions).[34] Negative leakages, which are desirable, can be referred to as "spill-over".[35]

According to one study, short-term leakage effects need to be judged against long-term effects.[36]: 28  A policy that, for example, establishes carbon taxes only in developed countries might leak emissions to developing countries. However, a desirable negative leakage could occur due to reduced demand for coal, oil, and gas in developed countries, lowering prices. This could allow developing countries to substitute oil or gas for coal, lowering emissions. In the long-run, however, if less polluting technologies are delayed, this substitution might have no long-term benefit.

Carbon leakage is central to climate policy, given the 2030 Energy and Climate Framework and the review of the European Union's third carbon leakage list.[37]

Border adjustments, tariffs and bans

Policies have been suggested to address concerns over competitive losses experienced by countries that introduce a carbon tax versus countries that do not.[38][39][40]: 5  Border tax adjustments, tariffs and trade bans have been proposed to encourage countries to introduce carbon taxes.

Border tax adjustments compensate for emissions attributable to imports from nations without a carbon price. An alternative would be trade bans or tariffs applied to such countries. Such approaches could be inadmissible at the World Trade Organization. Case law there has not provided specific rulings on climate-related taxes.[41] The administrative aspects of border tax adjustments have been discussed.[42]

Other types of taxes

See also: Energy tax and Carbon fee and dividend

Two related taxes are emissions taxes and energy taxes. An emissions tax on greenhouse gas emissions requires individual emitters to pay a fee, charge, or tax for every tonne of greenhouse gas,[9] while an energy tax is applied to the fuels themselves.

In terms of climate change mitigation, a carbon tax is not a perfect substitute for an emissions tax.[43] For example, a carbon tax encourages reduced fuel use, but it does not encourage emissions reduction such as carbon capture and storage.

Energy taxes increase the price of energy regardless of emissions.[44] An ad valorem energy tax is levied according to the energy content of a fuel or the value of an energy product, which may or may not be consistent with the emitted greenhouse gas amounts and their respective global warming potentials. Studies indicate that to reduce emissions by a certain amount, ad valorem energy taxes would be more costly than carbon taxes.[6] However, although greenhouse gas emissions are an externality, using energy services may result in other negative externalities, e.g., air pollution not covered by the carbon tax (such as ammonia or fine particles). A combined carbon-energy tax may therefore be better at reducing air pollution than a carbon tax alone.[citation needed]

Any of these taxes can be combined with a rebate, where the money collected by the tax is returned to qualifying parties, taxing heavy emitters and subsidizing those that emit less carbon.

Embodied carbon and architecture

Embodied carbon emissions, or upfront carbon emissions (UCE), are the result of creating and maintaining the materials that form a building.[45] As of 2018, "Embodied carbon is responsible 11% of global greenhouse gas emissions and 28% of global building sector emissions ... Embodied carbon will be responsible for almost half of total new construction emissions between now and 2050."[46]

Steve Webb, co-founder of Webb Yates Engineers, has suggested that buildings with "high carbon frames should be taxed like cigarettes,"[47] to create a presumption in favour of timber, stone, and other zero-carbon architectural design techniques."[47][48]

Design

The design of a carbon tax involves two primary factors: the level of the tax, and the use of the revenue.[49] The former is based on the social cost of carbon (SCC), which attempts to calculate the numeric cost of the externalities of carbon pollution. The precise number is the subject of debate in environmental and policy circles. A higher SCC corresponds with a higher evaluation of the costs of carbon pollution on society. Stanford University scientists have estimated the social cost of carbon to be upwards of $200 per ton.[50] More conservative estimates pin the cost at around $50.[51][52]

The use of the revenue is another subject of debate in carbon tax proposals.[49] A government may use revenue to increase its discretionary spending, or address deficits. However, such proposals often run the risk of being regressive, and sparking backlash among the public due to an increased cost of energy associated with such taxes.[53] To avoid this and increase the popularity of a carbon tax, a government may make the carbon tax revenue-neutral.[54][55] This can be done by reducing income tax proportionate to the level of the carbon tax, or by returning carbon tax revenues to citizens as a dividend.[56]

Impact

Research shows that carbon taxes effectively reduce greenhouse gas emissions.[8][57][58] Most economists assert that carbon taxes are the most efficient and effective way to curb climate change, with the least adverse economic effects.[10][11][12][13][59][60]

Carbon taxes can increase electricity prices.[61]

One study found that Sweden's carbon tax successfully reduced carbon dioxide emissions from transport by 11%.[57] A 2015 British Columbia study found that the taxes reduced greenhouse gas emissions by 5–15% while having negligible overall economic effects.[58] A 2017 British Columbia study found that industries on the whole benefited from the tax and "small but statistically significant 0.74 percent annual increases in employment" but that carbon-intensive and trade-sensitive industries were adversely affected.[62] A 2020 study of carbon taxes in wealthy democracies showed that carbon taxes had not limited economic growth.[63]

A number of studies have found that in the absence of an increase in social benefits and tax credits, a carbon tax would hit poor households harder than rich households.[64][65][66][67] Gilbert E. Metcalf disputed that carbon taxes would be regressive in the US.[68]

Internal price on carbon

See also: Carbon price

Many corporations calculate an "internal price on carbon". Companies use this internal price to assess the risk of future projects into their investment decisions. Companies usually assess a higher internal price when the company a) emits large amounts of CO2, and b) projects further into the future.[69] Oil company have assets (factories, refineries) with a long lifespan that can be affected by future energy policies.

Internal carbon prices for various companies
Company Internal carbon price (US$/ton)[69] CO2 emitted in 2013 (million tonnes)[69]
ExxonMobil 60 132
BP 40 60
Shell 40 72
Total 34 47
Ameren 30 56
Xcel Energy 20 54
Google 13 0.04
Disney 10–20 0.9
ConocoPhillips 8–46 24
Microsoft 6 0.05

Support

Economists and climate scientists

Greg Mankiw, head of the Council of Economic Advisers under the George W. Bush administration, economic adviser to Mitt Romney for his 2012 presidential campaign and economics professor at Harvard University since 1985, has been advocating for increased carbon/oil taxation since at least 1999.[70] In 2006, he founded the Pigou Club of economists advocating for Pigovian taxes, a carbon tax among them. The club's manifesto states "[h]igher gasoline taxes, perhaps as part of a broader carbon tax, would be the most direct and least invasive policy to address environmental concerns."[71]

In 1979, economist Milton Friedman expressed support for ecotaxes in general in an interview on The Phil Donahue Show, saying "...the best way to [deal with pollution] is to impose a tax on the cost of the pollutants emitted by a car and make an incentive for car manufacturers and for consumers to keep down the amount of pollution."[72] In Free to Choose (1980), Friedman reiterated his support ecotaxes especially as compared with increased environmental regulation, stating "The preservation of the environment and the avoidance of undue pollution are real problems and they are problems concerning which the government has an important role to play. ... Most economists agree that a far better way to control pollution than the present method of specific regulation and supervision is to introduce market discipline by imposing effluent charges."[73]

In 2001, environmental scientist Lester Brown, founder of the Worldwatch Institute and founder and president of the Earth Policy Institute, outlined a detailed "tax shifting" structure that would not lead to an overall higher tax level: "It means reducing income taxes and offsetting them with taxes on environmentally destructive activities such as carbon emissions, the generation of toxic waste, the use of virgin raw materials, the use of non-refillable beverage containers, mercury emissions, the generation of garbage, the use of pesticides, and the use of throwaway products... activities that should be discouraged by taxing."[74]

Former US Federal Reserve chairman Paul Volcker suggested (6 February 2007) that "it would be wiser to impose a tax on oil, for example, than wait for the market to drive up oil prices. A tax would give the government 'some leverage that you can use for other things.'", supporting a carbon tax.[75]

NASA climatologist James E. Hansen has argued in support of a carbon tax.[76][77]

Citizens' Climate Lobby advocates for carbon tax legislation (specifically a progressive fee and dividend model). The organization has about 165 chapters in the United States, Canada, and several other countries including Bangladesh and Sweden.[78]

Monica Prasad, a Northwestern University sociologist, wrote about Denmark's carbon tax in The New York Times in 2008.[79] Prasad argued that a critical component for Denmark's success was that the revenues subsidized firms to switch to renewable energy.

According to economist Laura D'Andrea Tyson, "The beauty of a carbon tax is its market-based simplicity. Economists since Adam Smith have insisted that prices are by far the most efficient way to guide the decisions of producers and consumers. Carbon emissions have an 'unpriced' societal cost in terms of their deleterious effects on the earth's climate. A tax on carbon would reflect these costs and send a powerful price signal that would discourage carbon emissions."[80]

The American Enterprise Institute, Environmental economist Jack Pezzey,[81] economist Jeffrey Sachs (director of the Earth Institute of Columbia University),[82] Yale economist William Nordhaus support carbon taxes.[83]

In January 2019, economists published a statement in the Wall Street Journal calling for a carbon tax, describing it as "the most cost-effective lever to reduce carbon emissions at the scale and speed that is necessary." In October 2021, the statement had been signed by more than 3,600 U.S. economists, including 28 Nobel Laureates.[13]

Others

  • Former US Vice President Al Gore backed a carbon tax in his book, Earth in the Balance.[84]
  • Former Representative Bob Inglis (R-South Carolina) heads the Energy and Enterprise Initiative at George Mason University and supports a carbon tax.[85]
  • Carl Pope, former executive director of the Sierra Club, supports a carbon tax over cap-and-trade because employers will know exactly what their emissions cost, and because cap-and-trade (with grandfathered permits) rewards those who have the highest emissions.[86]
  • In 2008, Rex Tillerson, then CEO of ExxonMobil, said a carbon tax is "a more direct, more transparent and more effective approach" than a cap and trade program, which he said, "inevitably introduces unnecessary cost and complexity." He said that he hoped that the revenues from a carbon tax would be used to lower other taxes.[87]
  • In 2016 in Washington state, the Sierra Club, the Washington Environmental Council, Climate Solutions, and the Alliance for Jobs and Clean Energy opposed a proposed tax of $25 per tonne on fossil fuels arguing that the enactment would undermine state finances.[88] In 2018, they instead supported a $15 per tonne tax in that state, along with many other environmental groups, in part because the proceeds would fund projects that would steer the state away from fossil fuels.[89]
  • In 2015, BG Group, BP, Eni, Royal Dutch Shell, Statoil, and Total sent an open letter to the UNFCCC calling for carbon pricing and eventually link it into a global system.[90]
  • A 2019 International Monetary Fund report stated that "a global tax of $75 per ton by the year 2030 could limit the planet's warming to 2 degrees Celsius."[91]
  • CEOs supporting carbon taxes include Fred Smith (FedEx);[92] James Owens (Caterpillar),[93] Paul Anderson (Duke Energy),[94] Elon Musk (Tesla and SpaceX).[95]
  • Companies include Unilever[96] and Nestlé[97]

Alternatives

As of 2015, developing countries were responsible for 63% of carbon emissions.[98] Various barriers[99] stand in the way of developing countries from adopting plans to slow carbon emissions, including a carbon tax. Developing countries often prioritize economic growth over lower emissions. Nuclear power is under development in multiple countries as an emissions-free energy source.[100]

Wind energy and solar energy are other alternatives to fossil fuels. Wind turbines are a sustainable and renewable source of power.

Emission trading

See also: Carbon emission trading

Cap and trade is another approach. Emission levels are limited and emission permits traded among emitters. The permits can be issued via government auctions or by offered without charge based on existing emissions (grandfathering). Auctions raise revenues that can be used to reduce other taxes or to fund government programs.[101] Variations include setting price-floor and/or price-ceiling for permits.[28] A carbon tax can combined with trading.[36]

A cap with grandfathered permits can have an efficiency advantage since it applies to all industries. Cap and trade provides an equal incentive for all producers at the margin to reduce their emissions. This is an advantage over a tax that exempts or has reduced rates for certain sectors.[101]

Both carbon taxes and trading systems aim to reduce emissions by creating a price for emitting CO2.[102] In the absence of uncertainty both systems will result in the efficient market quantity and price of CO2.[102][103] When the environmental damage and therefore the appropriate tax of each unit of CO2 cannot be accurately calculated, a permit system may be more advantageous.[103] In the case of uncertainty regarding the costs of CO2 abatement for firms, a tax is preferable.[103][102][104]

Permit systems regulate total emissions. In practice the limit has often been set so high that permit prices are not significant.[102] In the first phase of the European Union Emissions Trading System,[105][102][104] firms reduced their emissions to their allotted quantity without the purchase of any additional permits.[102] This drove permit prices to nearly zero two years later, crashing the system and requiring reforms that would eventually appear in EUETS Phase 3.[102][106]

The distinction between carbon taxes and permit systems can get blurred when hybrid systems are allowed. A hybrid sets limits on price movements, potentially softening the cap. When the price gets too high, the issuing authority issues additional permits at that price. A price floor may be breached when emissions are so low that no one needs to buy a permit.[107] Economist Gilbert Metcalf has proposed such a system, the Emissions Assurance Mechanism,[108] and the idea, in principle, has been adopted by the Climate Leadership Council.[109]

James E. Hansen argued in Storms of My Grandchildren and in an open letter to then President Barack Obama that emissions trading would only make money for banks and hedge funds and allow 'business-as-usual' for the chief carbon-emitting industries.[110][77]

Petroleum (gasoline, diesel, jet fuel) taxes

Many countries tax fuel directly; for example, the UK imposes a hydrocarbon oil duty directly on vehicle hydrocarbon oils, including petrol and diesel fuel.

While a direct tax sends a clear signal to the consumer, its efficiency at influencing consumers' fuel use has been challenged for reasons including:[111]

  • Possible delays of a decade or more as inefficient vehicles are replaced by newer models and the older models filter through the fleet.
  • Political pressures that deter policymakers from increasing taxes.
  • Limited relationship between consumer decisions on fuel economy and fuel prices. Other efforts, such as fuel efficiency standards, or changing income tax rules on taxable benefits, may be more effective.
  • The historical use of fuel taxes as a source of general revenue, given fuel's low price elasticity, which allows higher rates without reducing fuel volumes. In these circumstances, the policy rational may be unclear.

Vehicle fuel taxes may reduce the "rebound effect" that occurs when vehicle efficiency improves. Consumers may make additional journeys or purchase heavier and more powerful vehicles, offsetting the efficiency gains.[112]

Comparison of alternatives

A 2018 survey of leading economists found that 58% of the surveyed economists agreed with the assertion, "Carbon taxes are a better way to implement climate policy than cap-and-trade," 31% stated that they had no opinion or that it was uncertain, but none of the respondents disagreed.[12]

In a review study in 1996 the authors concluded that the choice between an international quota (cap) system, or an international carbon tax, remained ambiguous.[113] Another study in 2012 compared a carbon tax, emissions trading, and command-and-control regulation at the industry level, concluding that market-based mechanisms would perform better than emission standards in achieving emission targets without affecting industrial production.[114]

Implementation by country

 
Emissions trading and carbon taxes around the world (2021)[115]
  Carbon tax implemented or scheduled
  Carbon emission trading implemented or scheduled
  Carbon emission trading or carbon tax under consideration

Both energy and carbon taxes have been implemented in response to commitments under the United Nations Framework Convention on Climate Change.[6] In most cases the tax is implemented in combination with exemptions.

Africa

South Africa

South Africa Finance Minister Pravin Gordhan first announced a carbon tax in 2010 that was to begin in 2015.[116] After numerous delays, the tax was finally passed in 2019 and is due to come into effect in 2022. The tax is set at a base rate R120 (US$8.12) per tonne of CO2 equivalent, with an effective rate of R6–48 (US$0.42–3.32) after accounting for tax breaks.[117][118] The National Treasury has proposed to increase the carbon tax rate by a minimum of US$1 from 2023 to 2025 with gradual increment to US$20 (~R350) by 2026 and to US$30 (~R530) by 2030.[119][120]

Zimbabwe

Although a tax the Zimbabwean government calls "carbon tax" exists, it only taxes certain imported fuels and more closely resembles a tariff or fuel tax.[121]

Asia

Indonesia

Carbon tax provisions are regulated in Article 13 of the Law 7/2021 in which carbon tax will be imposed on entities producing carbon emissions that have a negative impact on the environment.[122] Based on the Law 7/2021, the imposition of carbon tax will be carried out by focusing on two specific schemes i.e., the carbon tax scheme (cap and tax) and the carbon trade scheme (cap and trade).

In the carbon trade scheme, individual or company ("entities") that produce emissions exceeding the cap are required to purchase for an emission permit certificate ("Sertifikat Izin Emisi"/SIE) other entities that produce emissions below the cap.

In addition, entities can also purchase emission reduction certificates ("Sertifikat Penurunan Emisi"/SPE). However, if the entity is unable to purchase SIE or SPE in full for the resulting emissions, the cap and tax scheme will apply where entities producing residual emissions that exceed the cap will be subject to carbon tax.

Singapore

On 20 February 2017, Singapore proposed a carbon tax.[123] The proposal was refined to tax large emitters at S$5 (US$3.73) per tonne of greenhouse gas emissions.[124] The Carbon Pricing Act was passed on 20 March 2018[125] and came into force on 1 January 2019.[126]

Singapore's 2022 budget proposes raising the carbon tax to S$25 (US$18.66) in 2024, S$45 (US$33.58) in 2026, and S$50 (US$37.31)–S$80 (US$59.7) by 2030.[127]

Australia

 
Greg Combet, Member of Parliament of Australia, explaining the effects of the proposed carbon dioxide pollution tax at the Petersham Town Hall
Main article: Carbon pricing in Australia

On 1 July 2012, the Australian Federal government introduced a carbon price of A$23 (US$17.29) per tonne on selected fossil fuels consumed by major industrial emitters and government bodies such as councils. To offset the tax, the government reduced income tax (by increasing the tax-free threshold) and increased pensions and welfare payments slightly, while introducing compensation for some affected industries. On 17 July 2014, a report by the Australian National University estimated that the Australian scheme had cut carbon emissions by as much as 17 million tonnes. The tax notably helped reduce pollution from the electricity sector.[128]

On 17 July 2014, the Abbott government passed repeal legislation through the Senate, and Australia became the first nation to abolish a carbon tax.[129] In its place, the government set up the Emission Reduction Fund.[130]

Europe

Further information: Climate change in Europe

In Europe, many countries have imposed energy taxes or energy taxes based partly on carbon content.[6] These include Denmark, Finland, Germany, Ireland, Italy, the Netherlands, Norway, Slovenia, Sweden, Switzerland, and the UK. None of these countries has been able to introduce a uniform carbon tax for fuels in all sectors.[131]

During the 1990s, a carbon/energy tax was proposed at the EU level but failed due to industrial lobbying.[132] In 2010, the European Commission considered implementing a pan-European minimum tax on pollution permits purchased under the European Union Greenhouse Gas Emissions Trading Scheme (EU ETS) in which the proposed new tax would be calculated in terms of carbon content.[133] The suggested rate of €4 to €30 per tonne of CO2.[134]

Denmark

As of 2002, the standard carbon tax rate since 1996 amounted to 100 kr. per tonne of CO2, equivalent to approximately €13 or US$18. The rate varies from 402 kr. per tonne of oil to 5.6 kr. per tonne of natural gas and 0 for non-combustible renewables. The rate for electricity is 1164 kr. per tonne or 10 øre per kWh, equivalent to €.013 or US$.017 per kWh. The tax applies to all energy users. Industrial companies can be taxed differently according to the process the energy is used for, and whether or not the company has entered into a voluntary agreement to apply energy efficiency measures.[135]

In 1992, Denmark issued a carbon tax, charging about $14 for business and $7 for households, per ton of CO2. However, Denmark offers a tax refund for energy efficient changes. Most of the money collected would be put into research for alternative energy resources.[136]

In 2022 Denmark approved a carbon tax that will reach 159 dollars per ton of CO2 by the year 2030 for companies that are part of the EU Emissions Trading System (ETS). This is the highest carbon tax in Europe.[137]

Finland

Finland was the first country in the 1990s to introduce a CO2 tax, initially with exemptions for specific fuels or sectors.[138][139][140] Energy taxation was changed many times. These changes were related to the opening of the Nordic electricity market. Other Nordic countries exempted energy-intensive industries, and Finnish industries felt disadvantaged by this. Finland placed a border tax on imported electricity, but this was found to be out of line with EU single market legislation. Changes were then made to the carbon tax to partially exclude energy-intensive firms. This had the effect of increasing the costs of reducing CO2 emissions.[141]: 16 

Scholars suggested that carbon tax revenues in Finland could be used to reduce labour taxes, which would favour non-energy-intensive industries.[141]: 17 

France

Further information: Climate change in France

In 2009, France detailed a carbon tax with a levy on oil, gas, and coal consumption by households and businesses that was supposed to come into effect on 1 January 2010. The tax would affect households and businesses, which would have raised the cost of a litre of unleaded fuel by about four euro cents (25 US cents per gallon). The total estimated income from the carbon tax would have been between €3 and 4.5 billion annually, with 55 percent from households and 45 percent from businesses.[142] The tax would not have applied to electricity, which in France comes mostly from nuclear power.[143]

On 30 December 2009, the bill was blocked by the French Constitutional Council, which said it included too many exceptions.[144] Among those exceptions, certain industries were excluded that would have made the taxes unequal and inefficient.[145] They included exemptions for agriculture, fishing, trucking, and farming.[142] French President Nicolas Sarkozy, although he vowed to "lead the fight to save the human race from global warming", was forced to back down after mass social protests led to strikes.[146] He wanted support from the rest of the European Union before proceeding.[147]

In 2014, a carbon tax was implemented. Prime Minister Jean-Marc Ayrault announced the new Climate Energy Contribution (CEC) on 21 September 2013. The tax would apply at a rate of €7/tonne CO2 in 2014, €14.50 in 2015 and rising to €22 in 2016.[148] As of 2018, the carbon tax was at €44.60/tonne.[149] and was due to increase every year to reach €65.40/tonne in 2020 and €86.20/tonne in 2022.[150]

After weeks of protests by the "Gilets Jaunes" (yellow vests) against the rise of gas prices, French President Emmanuel Macron announced on 4 December 2018, the tax would not be increased in 2019 as planned.[151]

Germany

Further information: Climate change in Germany

The German ecological tax reform was adopted in 1999. After that, the law was amended in 2000 and in 2003. The law grew taxes on fuel and fossil fuels and laid the foundation for the tax for energy. In December 2019, the German Government agreed on a carbon tax of 25 Euros per tonne of CO2 on oil and gas companies. The law came into effect in January 2021. The tax will increase to 55 Euros per tonne by 2025.[152] From 2026 onwards, the price will be decided at auction.[153]

Ireland

In 2004, following a policy review, the Irish Government rejected a carbon tax option.[154] In 2007 a Fianna Fáil-Green Party coalition government was formed, and promised to reconsider the matter. In 2010 the country's carbon tax was introduced[155] at €15 per tonne of CO2 emissions[156] (approx. US$20 per tonne).[157]

The tax applies to kerosene, marked gas oil, liquid petroleum gas, fuel oil, and natural gas. The tax does not apply to electricity because the cost of electricity is already included in pricing under the Single Electricity Market (SEM). Similarly, natural gas users are exempt if they can prove they are using the gas to "generate electricity, for chemical reduction, or for electrolytic or metallurgical processes".[158] Partial relief is granted for natural gas covered by a greenhouse gas emissions permit issued by the Environmental Protection Agency. Such gas will be taxed at the minimum rate specified in the EU Energy Tax Directive, which is €0.54 per megawatt-hour at gross calorific value."[159] Pure biofuels are also exempt.[160] The Economic and Social Research Institute (ESRI) estimated costs between €2 and €3 a week per household:[161] a survey from the Central Statistics Office reports that Ireland's average disposable income was almost €48,000 in 2007.[162]

Activist group Active Retirement Ireland proposed a pensioner's allowance of €4 per week for the 30 weeks currently covered by the fuel allowance and that home heating oil be covered under the Household Benefit Package.[163]

The tax is paid by companies. Payment for the first accounting period was due in July 2010. Fraudulent violation is punishable by jail or a fine.[164]

The NGO Irish Rural Link[165] noted that according to ESRI a carbon tax would weigh more heavily on rural households.[166] They claim that other countries have shown that carbon taxation succeeds only if it is part of a comprehensive package that includes reducing other taxes.[167]

Carbon Tax was introduced in Ireland in the 2010 budget by the Green Party/Fianna Fáil coalition government at a rate of €15/tonne CO2. It was applied to motor gasoline and diesel and to home heating oil (diesel).[168]

In 2011, the coalition government of Fine Gael and Labour raised the tax to €20/tonne. Farmers were granted tax relief.[169]

Norway

Further information: Climate change in Norway

Norway introduced a CO2 tax on fuels in 1991.[170] The tax started at a rate of US$51 per tonne of CO2 on gasoline, with an average tax of US$21 per tonne.[171] The tax applied to diesel, mineral oil, oil and gas used in North Sea extraction activities.[172] The International Energy Agency's (IEA) in 2001 stated that "since 1991 a carbon dioxide tax has applied in addition to excise taxes on fuel." It is among the highest rates in OECD. The applies to offshore oil and gas production. IEA estimates for revenue generated by the tax in 2004 were 7,808 million NOK[173] (about US$1.3 billion in 2010 dollars).

According to IEA's 2005 Review,[173] Norway's CO2 tax is its most important climate policy instrument, and covers about 64% of Norwegian CO2 emissions and 52% of total greenhouse gas emissions. Some industry sectors were exempted to preserve their competitive position. Various studies in the 1990s, and an economic analysis by Statistics Norway, estimated the effect to be a reduction of 2.5–11% of Norwegian emissions compared to (untaxed) business-as-usual. However, Norway's per capita emissions still rose by 15% as of 2008.[174]

In attempt to reduce CO2 emissions by a larger amount, Norway implemented an Emissions Trading Scheme in 2005[175] and joined the European Union Emissions Trading Scheme (EU ETS) in 2008.[176] As of 2013, roughly 55% of CO2 emissions in Norway were taxed and exempt emissions are included in the EU ETS.[176] Certain CO2 taxes are applied to emissions that result from petroleum activities on the continental shelf.[177] This tax is charged per liter of oil and natural gas liquids produced, as well as per standard cubic meter of gas flared or otherwise emitted.[177] However, this carbon tax is a tax deductible operating cost for petroleum production.[177] In 2013, carbon tax rates were doubled to 0.96 NOK per liter/standard cubic meter of mineral oil and natural gas.[177] As of 2016, the rate increased to 1,02 NOK.[178] The Norwegian Ministry of the Environment described CO2 taxes as the most important tool for reducing emissions.[179]

Sweden

Further information: Climate change in Sweden

In January 1991, Sweden enacted a CO2 tax of SEK 250 per 1000 kg ($40 at the time, or EUR 27 at current rates) on the use of oil, coal, natural gas, liquefied petroleum gas, petrol, and aviation fuel used in domestic travel. Industrial users paid half the rate (between 1993 and 1997, 25%), and preferred industries such as commercial horticulture, mining, manufacturing, and pulp and paper were exempted entirely. As a result, the tax only covers around 40% of Sweden's carbon emissions.[180] The rate was raised to SEK 365 ($60) in 1997[181] and SEK 930 in 2007.[182]

According to a 2019 study, the tax was instrumental in substantially reducing Sweden's carbon dioxide emissions.[183] The tax is also credited by Swedish Society for Nature Conservation climate change expert Emma Lindberg and University of Lund Professor Thomas Johansson with spurring a significant move from hydrocarbon fuels to biomass. Lindberg said, "It was the one major reason that steered society towards climate-friendly solutions. It made polluting more expensive and focused people on finding energy-efficient solutions."[184][185]

Switzerland

In January 2008, Switzerland implemented a CO2 incentive tax on all hydrocarbon fuels, unless are used for energy.[clarification needed] Gasoline and diesel fuels are not affected. It is an incentive tax because it is designed to promote the economic use of hydrocarbon fuels.[186] The tax amounts to SFr 12 per tonne CO2, the equivalent of SFr 0.03 per litre of heating oil (US$0.108 per gallon) and SFr 0.025 per m3 of natural gas (US$0.024 per m3).[187] Switzerland prefers to rely on voluntary actions and measures to reduce emissions. The law mandated a CO2 tax if voluntary measures proved to be insufficient.[188] In 2005, the federal government decided that additional measures were needed to meet Kyoto Protocol commitments of an 8% reduction in emissions below 1990 levels between 2008 and 2012.[189] In 2007, the CO2 tax was approved by the Swiss Federal Council, coming into effect in 2008.[187] In 2010, the highest tax rate was to be CHF 36 per tonne of CO2 (US$34.20 per tonne CO2).[190]

Companies are allowed to escape the tax by participating in emissions trading where they voluntarily commit to legally binding reduction targets.[191] Emission allowances are given to companies for free, and each year emission allowances equal to the amount of additional CO2 emitted must be surrendered by the company. Companies are allowed to sell or trade excess permits. However, a company that fails to surrender sufficient allowances must pay the tax retroactively for each tonne emitted since the exemption was granted.[189] As of 2009 some 400 companies operated under this program. In 2008 and 2009 the companies returned enough credits to the Swiss government to cover their CO2 emissions. The companies emitted about 2.6 million tonnes, well below the limit of 3.1 million tonnes.[192] Switzerland issued so many allowances that few emissions permits were traded.[193]

The tax is revenue-neutral because revenues are redistributed to companies and to the Swiss population. For example, if the population bears 60% of the tax burden, it receives 60% of the rebate. Revenues are redistributed to all payers, except those who exempt themselves from the tax through the cap-and-trade program.[190] The revenue is given to companies in proportion to payroll.[194] Tax revenues that were paid by the population are redistributed equally to all residents.[190][194] In June 2009, the Swiss Parliament allocated about one-third of the carbon tax revenue to a 10-year construction initiative. This program promotes building renovations, renewable energies, waste heat reruse, and building engineering.[190]

Tax revenue from 2008 to 2010 were distributed in 2010.[190] In 2008, the tax raised around CHF 220 million (US$209 million) in revenue. As of 16 June 2010, a total of around SFr 360 million (US$342 million) had become available for distribution.[194] The 2010 revenue was about SFr 630 million (US$598 million). SFr 200 million (US$190 million) was to be allocated for the building program, while the remaining SFr 430 million (US$409 million) was to be redistributed to the population.[190] IEA commended Switzerland's tax for its design and that tax revenues would be recycled as "sound fiscal practice".[189]

Since 2005, transport fuels in Switzerland have been subjected to the Climate Cent Initiative surcharge—a surcharge of SFr 0.015 per liter on gasoline and diesel (US$0.038 per gallon). However, this surcharge was supplemented with a CO2 tax on transport fuels if emissions reductions are not satisfactory. In their 2007 review, IEA recommended that Switzerland implement a CO2 tax on transport fuels or increase the Climate Cent surcharge to better balance the costs of meeting emissions reductions targets across sectors.[195]

Americas

Costa Rica

In 1997, Costa Rica imposed a 3.5 percent carbon tax on hydrocarbon fuels.[196] A portion of the proceeds go to the "Payment for Environmental Services" (PSA) program which gives incentives to property owners to practice sustainable development and forest conservation.[197] Approximately 11% of Costa Rica's national territory is protected by the plan.[198] The program now pays out roughly $15 million a year to around 8,000 property owners.[199]

Canada

Main articles: Carbon pricing in Canada, Quebec carbon tax, and British Columbia Carbon Tax

In the 2008 Canadian federal election, a carbon tax proposed by Liberal Party leader Stéphane Dion, known as the Green Shift, became a central issue. It would have been revenue-neutral, balancing increased taxation on carbon with rebates. However, it proved to be unpopular and contributed to the Liberal Party's defeat, earning the lowest vote share since Confederation.[200][201][202][203] The Conservative party won the election by promising to "develop and implement a North American-wide cap-and-trade system for greenhouse gases and air pollution, with implementation to occur between 2012 and 2015".[204]

In 2018, Canada enacted a revenue-neutral carbon levy starting in 2019,[205][206] fulfilling Prime Minister Justin Trudeau's campaign pledge.[206] The Greenhouse Gas Pollution Pricing Act applies only to provinces without provincial adequate carbon pricing.[206]

As of September 2020, seven of thirteen Canadian provinces and territories use the federal carbon tax while three have developed their own carbon tax programs.[207]

In December 2020, the Federal Government released an updated plan with a CA$15 per tonne per year increase in the carbon pricing, reaching CA$95 per tonne in 2025 and CA$170 per tonne in 2030.[208]

Quebec became the first province to introduce a carbon tax.[209][210] The tax was to be imposed on energy producers starting 1 October 2007, with revenue collected used for energy-efficiency programs. The tax rate for gasoline is $CDN0.008 per liter, or about CA$3.50 per tonne of CO
2 equivalent.[211]

United States

Further information: Climate change in the United States, Greenhouse gas emissions by the United States, and Climate change policy of the United States
 
Estimated effect of a carbon tax on sources of United States electrical generation (US Energy Information Administration)

A national carbon tax in the U.S. has been repeatedly proposed, but never enacted. For instance, on 23 July 2018, Representative Carlos Curbelo (R-FL) introduced H.R. 6463,[212] the "MARKET CHOICE Act", a proposal for a carbon tax in which revenue is used to bolster American infrastructure and environmental solutions.[213] The bill was introduced in the House of Representatives, but did not become law.[214]

A number of organizations are currently advancing national carbon tax proposals. To address concerns from conservatives that a carbon tax would grow government and increase cost of living, recent proposals have centered around revenue-neutrality.[215][54] The Citizens' Climate Lobby (CCL), republicEn[216] (formerly E&EI), the Climate Leadership Council (CLC), and Americans for Carbon Dividends (AFCD) support a revenue-neutral carbon tax with a border adjustment. The latter two organizations advocate for a specific framework called the Baker-Shultz Carbon Dividends Plan, which has gained national bipartisan traction since its announcement in 2017.[217][218] The central principle is a gradually rising carbon tax in which all revenues are rebated as equal dividends to the American people.[219] This plan is co-authored by (and named after) Republican elder-statesmen James Baker and George Shultz.[220] It is also supported by companies including Microsoft, Pepsico, First Solar, American Wind Energy Association, Exxon Mobil, BP, and General Motors.[221][222][223]

See also

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Works cited

  • Fisher, B.S.; et al. (1996). An Economic Assessment of Policy Instruments for Combating Climate Change. In: Climate Change 1995: Economic and Social Dimensions of Climate Change. Contribution of Working Group III to the Second Assessment Report of the Intergovernmental Panel on Climate Change (J.P. Bruce et al. Eds.). This version: Printed by Cambridge University Press, Cambridge, UK, and New York. Web version: IPCC website. ISBN 978-0-521-56854-8.

May 04, 2023
carbon, carbon, levied, carbon, emissions, required, produce, goods, services, intended, make, visible, hidden, social, costs, carbon, emissions, which, otherwise, felt, only, indirect, ways, like, more, severe, weather, events, this, they, designed, reduce, c. A carbon tax is a tax levied on the carbon emissions required to produce goods and services Carbon taxes are intended to make visible the hidden social costs of carbon emissions which are otherwise felt only in indirect ways like more severe weather events In this way they are designed to reduce carbon dioxide CO2 emissions by increasing prices of the fossil fuels that emit them when burned This both decreases demand for goods and services that produce high emissions and incentivizes making them less carbon intensive 1 In its simplest form a carbon tax covers only CO2 emissions however it could also cover other greenhouse gases such as methane or nitrous oxide by taxing such emissions based on their CO2 equivalent global warming potential 2 When a hydrocarbon fuel such as coal petroleum or natural gas is burned most or all of its carbon is converted to CO2 Greenhouse gas emissions cause climate change which damages the environment and human health This negative externality can be reduced by taxing carbon content at any point in the product cycle 3 4 5 6 Carbon taxes are thus a type of Pigovian tax 7 A coal fired power plant in Luchegorsk Russia A carbon tax would tax the CO2 emitted from the power station Research shows that carbon taxes effectively reduce emissions 8 Many economists argue that carbon taxes are the most efficient lowest cost way to tackle climate change 9 10 11 12 13 Seventy seven countries and over 100 cities have committed to achieving net zero emissions by 2050 14 8 As of 2019 update carbon taxes have been implemented or scheduled for implementation in 25 countries 15 while 46 countries put some form of price on carbon either through carbon taxes or emissions trading schemes 16 On their own carbon taxes are usually regressive since lower income households tend to spend a greater proportion of their income on emissions heavy goods and services like transportation than higher income households To make them more progressive policymakers can try to redistribute the revenue generated from carbon taxes to low income groups by lowering income taxes or offering rebates 17 then as part of the politics of climate change the overall policy initiative can be referred to as a carbon fee and dividend rather than a tax 18 A carbon tax as well as carbon emission trading is used within the carbon price concept Contents 1 Background 2 Economic theory 2 1 Carbon leakage 2 2 Border adjustments tariffs and bans 2 3 Other types of taxes 2 4 Embodied carbon and architecture 3 Design 4 Impact 5 Internal price on carbon 6 Support 6 1 Economists and climate scientists 6 2 Others 7 Alternatives 7 1 Emission trading 7 2 Petroleum gasoline diesel jet fuel taxes 7 3 Comparison of alternatives 8 Implementation by country 8 1 Africa 8 1 1 South Africa 8 1 2 Zimbabwe 8 2 Asia 8 2 1 Indonesia 8 2 2 Singapore 8 3 Australia 8 4 Europe 8 4 1 Denmark 8 4 2 Finland 8 4 3 France 8 4 4 Germany 8 4 5 Ireland 8 4 6 Norway 8 4 7 Sweden 8 4 8 Switzerland 8 5 Americas 8 5 1 Costa Rica 8 5 2 Canada 8 5 3 United States 9 See also 10 References 10 1 Works citedBackground EditCarbon dioxide is one of several heat trapping greenhouse gases others include methane and water vapor emitted as a result of human activities The scientific consensus is that human induced greenhouse gas emissions are the primary cause of global warming 19 and that carbon dioxide is the most important of the anthropogenic greenhouse gases 20 Worldwide 27 billion tonnes of carbon dioxide are produced by human activity annually 21 The physical effect of CO2 in the atmosphere can be measured as a change in the Earth atmosphere system s energy balance the radiative forcing of CO2 22 Different greenhouse gases have different physical properties the global warming potential is an internationally accepted scale of equivalence for other greenhouse gases in units of tonnes of carbon dioxide equivalent David Gordon Wilson first proposed a carbon tax in 1973 23 Economic theory EditSee also Carbon tax Alternatives Economists like to argue about climate change as much as anything else But on the biggest issue of all they nod in agreement whatever their political persuasion The best way to tackle climate change they insist is through a global carbon tax The Economist 28 November 2015 24 A carbon tax is a form of pollution tax 25 Unlike classic command and control regulations which explicitly limit or prohibit emissions by each individual polluter 26 a carbon tax aims to allow market forces to determine the most efficient way to reduce pollution 27 A carbon tax is an indirect tax a tax on a transaction as opposed to a direct tax which taxes income Carbon taxes are price instruments since they set a price rather than an emission limit 28 In addition to creating incentives for energy conservation a carbon tax puts renewable energy such as wind solar and geothermal on a more competitive footing In economic theory pollution is considered a negative externality a negative effect on a third party not directly involved in a transaction and is a type of market failure To confront the issue economist Arthur Pigou proposed taxing the goods in this case hydrocarbon fuels that were the source of the externality CO2 so as to accurately reflect the cost of the goods to society thereby internalizing the production costs A tax on a negative externality is called a Pigovian tax which should equal the cost Within Pigou s framework the changes involved are marginal and the size of the externality is assumed to be small enough not to distort the economy 29 Climate change is claimed to result in catastrophe non marginal changes 30 31 Non marginal means that the impact could significantly reduce the growth rate in income and welfare The amount of resources that should be devoted to climate change mitigation is controversial 30 Policies designed to reduce carbon emissions could have a non marginal impact but are asserted to not be catastrophic 32 Two common economic alternatives to carbon taxes are tradable permits credits and subsidies Carbon leakage Edit Carbon leakage happens when the regulation of emissions in one country sector pushes those emissions to other places that with less regulation 33 Leakage effects can be both negative i e increasing the effectiveness of reducing overall emissions and positive reducing the effectiveness of reducing overall emissions 34 Negative leakages which are desirable can be referred to as spill over 35 According to one study short term leakage effects need to be judged against long term effects 36 28 A policy that for example establishes carbon taxes only in developed countries might leak emissions to developing countries However a desirable negative leakage could occur due to reduced demand for coal oil and gas in developed countries lowering prices This could allow developing countries to substitute oil or gas for coal lowering emissions In the long run however if less polluting technologies are delayed this substitution might have no long term benefit Carbon leakage is central to climate policy given the 2030 Energy and Climate Framework and the review of the European Union s third carbon leakage list 37 Border adjustments tariffs and bans Edit Policies have been suggested to address concerns over competitive losses experienced by countries that introduce a carbon tax versus countries that do not 38 39 40 5 Border tax adjustments tariffs and trade bans have been proposed to encourage countries to introduce carbon taxes Border tax adjustments compensate for emissions attributable to imports from nations without a carbon price An alternative would be trade bans or tariffs applied to such countries Such approaches could be inadmissible at the World Trade Organization Case law there has not provided specific rulings on climate related taxes 41 The administrative aspects of border tax adjustments have been discussed 42 Other types of taxes Edit See also Energy tax and Carbon fee and dividend Two related taxes are emissions taxes and energy taxes An emissions tax on greenhouse gas emissions requires individual emitters to pay a fee charge or tax for every tonne of greenhouse gas 9 while an energy tax is applied to the fuels themselves In terms of climate change mitigation a carbon tax is not a perfect substitute for an emissions tax 43 For example a carbon tax encourages reduced fuel use but it does not encourage emissions reduction such as carbon capture and storage Energy taxes increase the price of energy regardless of emissions 44 An ad valorem energy tax is levied according to the energy content of a fuel or the value of an energy product which may or may not be consistent with the emitted greenhouse gas amounts and their respective global warming potentials Studies indicate that to reduce emissions by a certain amount ad valorem energy taxes would be more costly than carbon taxes 6 However although greenhouse gas emissions are an externality using energy services may result in other negative externalities e g air pollution not covered by the carbon tax such as ammonia or fine particles A combined carbon energy tax may therefore be better at reducing air pollution than a carbon tax alone citation needed Any of these taxes can be combined with a rebate where the money collected by the tax is returned to qualifying parties taxing heavy emitters and subsidizing those that emit less carbon Embodied carbon and architecture Edit Embodied carbon emissions or upfront carbon emissions UCE are the result of creating and maintaining the materials that form a building 45 As of 2018 Embodied carbon is responsible 11 of global greenhouse gas emissions and 28 of global building sector emissions Embodied carbon will be responsible for almost half of total new construction emissions between now and 2050 46 Steve Webb co founder of Webb Yates Engineers has suggested that buildings with high carbon frames should be taxed like cigarettes 47 to create a presumption in favour of timber stone and other zero carbon architectural design techniques 47 48 Design EditThe design of a carbon tax involves two primary factors the level of the tax and the use of the revenue 49 The former is based on the social cost of carbon SCC which attempts to calculate the numeric cost of the externalities of carbon pollution The precise number is the subject of debate in environmental and policy circles A higher SCC corresponds with a higher evaluation of the costs of carbon pollution on society Stanford University scientists have estimated the social cost of carbon to be upwards of 200 per ton 50 More conservative estimates pin the cost at around 50 51 52 The use of the revenue is another subject of debate in carbon tax proposals 49 A government may use revenue to increase its discretionary spending or address deficits However such proposals often run the risk of being regressive and sparking backlash among the public due to an increased cost of energy associated with such taxes 53 To avoid this and increase the popularity of a carbon tax a government may make the carbon tax revenue neutral 54 55 This can be done by reducing income tax proportionate to the level of the carbon tax or by returning carbon tax revenues to citizens as a dividend 56 Impact EditResearch shows that carbon taxes effectively reduce greenhouse gas emissions 8 57 58 Most economists assert that carbon taxes are the most efficient and effective way to curb climate change with the least adverse economic effects 10 11 12 13 59 60 Carbon taxes can increase electricity prices 61 One study found that Sweden s carbon tax successfully reduced carbon dioxide emissions from transport by 11 57 A 2015 British Columbia study found that the taxes reduced greenhouse gas emissions by 5 15 while having negligible overall economic effects 58 A 2017 British Columbia study found that industries on the whole benefited from the tax and small but statistically significant 0 74 percent annual increases in employment but that carbon intensive and trade sensitive industries were adversely affected 62 A 2020 study of carbon taxes in wealthy democracies showed that carbon taxes had not limited economic growth 63 A number of studies have found that in the absence of an increase in social benefits and tax credits a carbon tax would hit poor households harder than rich households 64 65 66 67 Gilbert E Metcalf disputed that carbon taxes would be regressive in the US 68 Internal price on carbon EditSee also Carbon price Many corporations calculate an internal price on carbon Companies use this internal price to assess the risk of future projects into their investment decisions Companies usually assess a higher internal price when the company a emits large amounts of CO2 and b projects further into the future 69 Oil company have assets factories refineries with a long lifespan that can be affected by future energy policies Internal carbon prices for various companies Company Internal carbon price US ton 69 CO2 emitted in 2013 million tonnes 69 ExxonMobil 60 132BP 40 60Shell 40 72Total 34 47Ameren 30 56Xcel Energy 20 54Google 13 0 04Disney 10 20 0 9ConocoPhillips 8 46 24Microsoft 6 0 05Support EditEconomists and climate scientists Edit Greg Mankiw head of the Council of Economic Advisers under the George W Bush administration economic adviser to Mitt Romney for his 2012 presidential campaign and economics professor at Harvard University since 1985 has been advocating for increased carbon oil taxation since at least 1999 70 In 2006 he founded the Pigou Club of economists advocating for Pigovian taxes a carbon tax among them The club s manifesto states h igher gasoline taxes perhaps as part of a broader carbon tax would be the most direct and least invasive policy to address environmental concerns 71 In 1979 economist Milton Friedman expressed support for ecotaxes in general in an interview on The Phil Donahue Show saying the best way to deal with pollution is to impose a tax on the cost of the pollutants emitted by a car and make an incentive for car manufacturers and for consumers to keep down the amount of pollution 72 In Free to Choose 1980 Friedman reiterated his support ecotaxes especially as compared with increased environmental regulation stating The preservation of the environment and the avoidance of undue pollution are real problems and they are problems concerning which the government has an important role to play Most economists agree that a far better way to control pollution than the present method of specific regulation and supervision is to introduce market discipline by imposing effluent charges 73 In 2001 environmental scientist Lester Brown founder of the Worldwatch Institute and founder and president of the Earth Policy Institute outlined a detailed tax shifting structure that would not lead to an overall higher tax level It means reducing income taxes and offsetting them with taxes on environmentally destructive activities such as carbon emissions the generation of toxic waste the use of virgin raw materials the use of non refillable beverage containers mercury emissions the generation of garbage the use of pesticides and the use of throwaway products activities that should be discouraged by taxing 74 Former US Federal Reserve chairman Paul Volcker suggested 6 February 2007 that it would be wiser to impose a tax on oil for example than wait for the market to drive up oil prices A tax would give the government some leverage that you can use for other things supporting a carbon tax 75 NASA climatologist James E Hansen has argued in support of a carbon tax 76 77 Citizens Climate Lobby advocates for carbon tax legislation specifically a progressive fee and dividend model The organization has about 165 chapters in the United States Canada and several other countries including Bangladesh and Sweden 78 Monica Prasad a Northwestern University sociologist wrote about Denmark s carbon tax in The New York Times in 2008 79 Prasad argued that a critical component for Denmark s success was that the revenues subsidized firms to switch to renewable energy According to economist Laura D Andrea Tyson The beauty of a carbon tax is its market based simplicity Economists since Adam Smith have insisted that prices are by far the most efficient way to guide the decisions of producers and consumers Carbon emissions have an unpriced societal cost in terms of their deleterious effects on the earth s climate A tax on carbon would reflect these costs and send a powerful price signal that would discourage carbon emissions 80 The American Enterprise Institute Environmental economist Jack Pezzey 81 economist Jeffrey Sachs director of the Earth Institute of Columbia University 82 Yale economist William Nordhaus support carbon taxes 83 In January 2019 economists published a statement in the Wall Street Journal calling for a carbon tax describing it as the most cost effective lever to reduce carbon emissions at the scale and speed that is necessary In October 2021 the statement had been signed by more than 3 600 U S economists including 28 Nobel Laureates 13 Others Edit Former US Vice President Al Gore backed a carbon tax in his book Earth in the Balance 84 Former Representative Bob Inglis R South Carolina heads the Energy and Enterprise Initiative at George Mason University and supports a carbon tax 85 Carl Pope former executive director of the Sierra Club supports a carbon tax over cap and trade because employers will know exactly what their emissions cost and because cap and trade with grandfathered permits rewards those who have the highest emissions 86 In 2008 Rex Tillerson then CEO of ExxonMobil said a carbon tax is a more direct more transparent and more effective approach than a cap and trade program which he said inevitably introduces unnecessary cost and complexity He said that he hoped that the revenues from a carbon tax would be used to lower other taxes 87 In 2016 in Washington state the Sierra Club the Washington Environmental Council Climate Solutions and the Alliance for Jobs and Clean Energy opposed a proposed tax of 25 per tonne on fossil fuels arguing that the enactment would undermine state finances 88 In 2018 they instead supported a 15 per tonne tax in that state along with many other environmental groups in part because the proceeds would fund projects that would steer the state away from fossil fuels 89 In 2015 BG Group BP Eni Royal Dutch Shell Statoil and Total sent an open letter to the UNFCCC calling for carbon pricing and eventually link it into a global system 90 A 2019 International Monetary Fund report stated that a global tax of 75 per ton by the year 2030 could limit the planet s warming to 2 degrees Celsius 91 CEOs supporting carbon taxes include Fred Smith FedEx 92 James Owens Caterpillar 93 Paul Anderson Duke Energy 94 Elon Musk Tesla and SpaceX 95 Companies include Unilever 96 and Nestle 97 Alternatives EditThis section needs to be updated Please help update this article to reflect recent events or newly available information March 2023 As of 2015 developing countries were responsible for 63 of carbon emissions 98 Various barriers 99 stand in the way of developing countries from adopting plans to slow carbon emissions including a carbon tax Developing countries often prioritize economic growth over lower emissions Nuclear power is under development in multiple countries as an emissions free energy source 100 Wind energy and solar energy are other alternatives to fossil fuels Wind turbines are a sustainable and renewable source of power Emission trading Edit See also Carbon emission trading Cap and trade is another approach Emission levels are limited and emission permits traded among emitters The permits can be issued via government auctions or by offered without charge based on existing emissions grandfathering Auctions raise revenues that can be used to reduce other taxes or to fund government programs 101 Variations include setting price floor and or price ceiling for permits 28 A carbon tax can combined with trading 36 A cap with grandfathered permits can have an efficiency advantage since it applies to all industries Cap and trade provides an equal incentive for all producers at the margin to reduce their emissions This is an advantage over a tax that exempts or has reduced rates for certain sectors 101 Both carbon taxes and trading systems aim to reduce emissions by creating a price for emitting CO2 102 In the absence of uncertainty both systems will result in the efficient market quantity and price of CO2 102 103 When the environmental damage and therefore the appropriate tax of each unit of CO2 cannot be accurately calculated a permit system may be more advantageous 103 In the case of uncertainty regarding the costs of CO2 abatement for firms a tax is preferable 103 102 104 Permit systems regulate total emissions In practice the limit has often been set so high that permit prices are not significant 102 In the first phase of the European Union Emissions Trading System 105 102 104 firms reduced their emissions to their allotted quantity without the purchase of any additional permits 102 This drove permit prices to nearly zero two years later crashing the system and requiring reforms that would eventually appear in EUETS Phase 3 102 106 The distinction between carbon taxes and permit systems can get blurred when hybrid systems are allowed A hybrid sets limits on price movements potentially softening the cap When the price gets too high the issuing authority issues additional permits at that price A price floor may be breached when emissions are so low that no one needs to buy a permit 107 Economist Gilbert Metcalf has proposed such a system the Emissions Assurance Mechanism 108 and the idea in principle has been adopted by the Climate Leadership Council 109 James E Hansen argued in Storms of My Grandchildren and in an open letter to then President Barack Obama that emissions trading would only make money for banks and hedge funds and allow business as usual for the chief carbon emitting industries 110 77 Petroleum gasoline diesel jet fuel taxes Edit Many countries tax fuel directly for example the UK imposes a hydrocarbon oil duty directly on vehicle hydrocarbon oils including petrol and diesel fuel While a direct tax sends a clear signal to the consumer its efficiency at influencing consumers fuel use has been challenged for reasons including 111 Possible delays of a decade or more as inefficient vehicles are replaced by newer models and the older models filter through the fleet Political pressures that deter policymakers from increasing taxes Limited relationship between consumer decisions on fuel economy and fuel prices Other efforts such as fuel efficiency standards or changing income tax rules on taxable benefits may be more effective The historical use of fuel taxes as a source of general revenue given fuel s low price elasticity which allows higher rates without reducing fuel volumes In these circumstances the policy rational may be unclear Vehicle fuel taxes may reduce the rebound effect that occurs when vehicle efficiency improves Consumers may make additional journeys or purchase heavier and more powerful vehicles offsetting the efficiency gains 112 Comparison of alternatives Edit A 2018 survey of leading economists found that 58 of the surveyed economists agreed with the assertion Carbon taxes are a better way to implement climate policy than cap and trade 31 stated that they had no opinion or that it was uncertain but none of the respondents disagreed 12 In a review study in 1996 the authors concluded that the choice between an international quota cap system or an international carbon tax remained ambiguous 113 Another study in 2012 compared a carbon tax emissions trading and command and control regulation at the industry level concluding that market based mechanisms would perform better than emission standards in achieving emission targets without affecting industrial production 114 Implementation by country Edit Emissions trading and carbon taxes around the world 2021 115 Carbon tax implemented or scheduled Carbon emission trading implemented or scheduled Carbon emission trading or carbon tax under consideration Both energy and carbon taxes have been implemented in response to commitments under the United Nations Framework Convention on Climate Change 6 In most cases the tax is implemented in combination with exemptions Africa Edit South Africa Edit South Africa Finance Minister Pravin Gordhan first announced a carbon tax in 2010 that was to begin in 2015 116 After numerous delays the tax was finally passed in 2019 and is due to come into effect in 2022 The tax is set at a base rate R120 US 8 12 per tonne of CO2 equivalent with an effective rate of R6 48 US 0 42 3 32 after accounting for tax breaks 117 118 The National Treasury has proposed to increase the carbon tax rate by a minimum of US 1 from 2023 to 2025 with gradual increment to US 20 R350 by 2026 and to US 30 R530 by 2030 119 120 Zimbabwe Edit Although a tax the Zimbabwean government calls carbon tax exists it only taxes certain imported fuels and more closely resembles a tariff or fuel tax 121 Asia Edit Indonesia Edit Carbon tax provisions are regulated in Article 13 of the Law 7 2021 in which carbon tax will be imposed on entities producing carbon emissions that have a negative impact on the environment 122 Based on the Law 7 2021 the imposition of carbon tax will be carried out by focusing on two specific schemes i e the carbon tax scheme cap and tax and the carbon trade scheme cap and trade In the carbon trade scheme individual or company entities that produce emissions exceeding the cap are required to purchase for an emission permit certificate Sertifikat Izin Emisi SIE other entities that produce emissions below the cap In addition entities can also purchase emission reduction certificates Sertifikat Penurunan Emisi SPE However if the entity is unable to purchase SIE or SPE in full for the resulting emissions the cap and tax scheme will apply where entities producing residual emissions that exceed the cap will be subject to carbon tax Singapore Edit On 20 February 2017 Singapore proposed a carbon tax 123 The proposal was refined to tax large emitters at S 5 US 3 73 per tonne of greenhouse gas emissions 124 The Carbon Pricing Act was passed on 20 March 2018 125 and came into force on 1 January 2019 126 Singapore s 2022 budget proposes raising the carbon tax to S 25 US 18 66 in 2024 S 45 US 33 58 in 2026 and S 50 US 37 31 S 80 US 59 7 by 2030 127 Australia Edit Greg Combet Member of Parliament of Australia explaining the effects of the proposed carbon dioxide pollution tax at the Petersham Town Hall Main article Carbon pricing in Australia On 1 July 2012 the Australian Federal government introduced a carbon price of A 23 US 17 29 per tonne on selected fossil fuels consumed by major industrial emitters and government bodies such as councils To offset the tax the government reduced income tax by increasing the tax free threshold and increased pensions and welfare payments slightly while introducing compensation for some affected industries On 17 July 2014 a report by the Australian National University estimated that the Australian scheme had cut carbon emissions by as much as 17 million tonnes The tax notably helped reduce pollution from the electricity sector 128 On 17 July 2014 the Abbott government passed repeal legislation through the Senate and Australia became the first nation to abolish a carbon tax 129 In its place the government set up the Emission Reduction Fund 130 Europe Edit This section s factual accuracy may be compromised due to out of date information Please help update this article to reflect recent events or newly available information May 2019 Further information Climate change in Europe In Europe many countries have imposed energy taxes or energy taxes based partly on carbon content 6 These include Denmark Finland Germany Ireland Italy the Netherlands Norway Slovenia Sweden Switzerland and the UK None of these countries has been able to introduce a uniform carbon tax for fuels in all sectors 131 During the 1990s a carbon energy tax was proposed at the EU level but failed due to industrial lobbying 132 In 2010 the European Commission considered implementing a pan European minimum tax on pollution permits purchased under the European Union Greenhouse Gas Emissions Trading Scheme EU ETS in which the proposed new tax would be calculated in terms of carbon content 133 The suggested rate of 4 to 30 per tonne of CO2 134 Denmark Edit As of 2002 the standard carbon tax rate since 1996 amounted to 100 kr per tonne of CO2 equivalent to approximately 13 or US 18 The rate varies from 402 kr per tonne of oil to 5 6 kr per tonne of natural gas and 0 for non combustible renewables The rate for electricity is 1164 kr per tonne or 10 ore per kWh equivalent to 013 or US 017 per kWh The tax applies to all energy users Industrial companies can be taxed differently according to the process the energy is used for and whether or not the company has entered into a voluntary agreement to apply energy efficiency measures 135 In 1992 Denmark issued a carbon tax charging about 14 for business and 7 for households per ton of CO2 However Denmark offers a tax refund for energy efficient changes Most of the money collected would be put into research for alternative energy resources 136 In 2022 Denmark approved a carbon tax that will reach 159 dollars per ton of CO2 by the year 2030 for companies that are part of the EU Emissions Trading System ETS This is the highest carbon tax in Europe 137 Finland Edit Finland was the first country in the 1990s to introduce a CO2 tax initially with exemptions for specific fuels or sectors 138 139 140 Energy taxation was changed many times These changes were related to the opening of the Nordic electricity market Other Nordic countries exempted energy intensive industries and Finnish industries felt disadvantaged by this Finland placed a border tax on imported electricity but this was found to be out of line with EU single market legislation Changes were then made to the carbon tax to partially exclude energy intensive firms This had the effect of increasing the costs of reducing CO2 emissions 141 16 Scholars suggested that carbon tax revenues in Finland could be used to reduce labour taxes which would favour non energy intensive industries 141 17 France Edit Further information Climate change in France In 2009 France detailed a carbon tax with a levy on oil gas and coal consumption by households and businesses that was supposed to come into effect on 1 January 2010 The tax would affect households and businesses which would have raised the cost of a litre of unleaded fuel by about four euro cents 25 US cents per gallon The total estimated income from the carbon tax would have been between 3 and 4 5 billion annually with 55 percent from households and 45 percent from businesses 142 The tax would not have applied to electricity which in France comes mostly from nuclear power 143 On 30 December 2009 the bill was blocked by the French Constitutional Council which said it included too many exceptions 144 Among those exceptions certain industries were excluded that would have made the taxes unequal and inefficient 145 They included exemptions for agriculture fishing trucking and farming 142 French President Nicolas Sarkozy although he vowed to lead the fight to save the human race from global warming was forced to back down after mass social protests led to strikes 146 He wanted support from the rest of the European Union before proceeding 147 In 2014 a carbon tax was implemented Prime Minister Jean Marc Ayrault announced the new Climate Energy Contribution CEC on 21 September 2013 The tax would apply at a rate of 7 tonne CO2 in 2014 14 50 in 2015 and rising to 22 in 2016 148 As of 2018 the carbon tax was at 44 60 tonne 149 and was due to increase every year to reach 65 40 tonne in 2020 and 86 20 tonne in 2022 150 After weeks of protests by the Gilets Jaunes yellow vests against the rise of gas prices French President Emmanuel Macron announced on 4 December 2018 the tax would not be increased in 2019 as planned 151 Germany Edit Further information Climate change in Germany The German ecological tax reform was adopted in 1999 After that the law was amended in 2000 and in 2003 The law grew taxes on fuel and fossil fuels and laid the foundation for the tax for energy In December 2019 the German Government agreed on a carbon tax of 25 Euros per tonne of CO2 on oil and gas companies The law came into effect in January 2021 The tax will increase to 55 Euros per tonne by 2025 152 From 2026 onwards the price will be decided at auction 153 Ireland Edit In 2004 following a policy review the Irish Government rejected a carbon tax option 154 In 2007 a Fianna Fail Green Party coalition government was formed and promised to reconsider the matter In 2010 the country s carbon tax was introduced 155 at 15 per tonne of CO2 emissions 156 approx US 20 per tonne 157 The tax applies to kerosene marked gas oil liquid petroleum gas fuel oil and natural gas The tax does not apply to electricity because the cost of electricity is already included in pricing under the Single Electricity Market SEM Similarly natural gas users are exempt if they can prove they are using the gas to generate electricity for chemical reduction or for electrolytic or metallurgical processes 158 Partial relief is granted for natural gas covered by a greenhouse gas emissions permit issued by the Environmental Protection Agency Such gas will be taxed at the minimum rate specified in the EU Energy Tax Directive which is 0 54 per megawatt hour at gross calorific value 159 Pure biofuels are also exempt 160 The Economic and Social Research Institute ESRI estimated costs between 2 and 3 a week per household 161 a survey from the Central Statistics Office reports that Ireland s average disposable income was almost 48 000 in 2007 162 Activist group Active Retirement Ireland proposed a pensioner s allowance of 4 per week for the 30 weeks currently covered by the fuel allowance and that home heating oil be covered under the Household Benefit Package 163 The tax is paid by companies Payment for the first accounting period was due in July 2010 Fraudulent violation is punishable by jail or a fine 164 The NGO Irish Rural Link 165 noted that according to ESRI a carbon tax would weigh more heavily on rural households 166 They claim that other countries have shown that carbon taxation succeeds only if it is part of a comprehensive package that includes reducing other taxes 167 Carbon Tax was introduced in Ireland in the 2010 budget by the Green Party Fianna Fail coalition government at a rate of 15 tonne CO2 It was applied to motor gasoline and diesel and to home heating oil diesel 168 In 2011 the coalition government of Fine Gael and Labour raised the tax to 20 tonne Farmers were granted tax relief 169 Norway Edit Further information Climate change in Norway Norway introduced a CO2 tax on fuels in 1991 170 The tax started at a rate of US 51 per tonne of CO2 on gasoline with an average tax of US 21 per tonne 171 The tax applied to diesel mineral oil oil and gas used in North Sea extraction activities 172 The International Energy Agency s IEA in 2001 stated that since 1991 a carbon dioxide tax has applied in addition to excise taxes on fuel It is among the highest rates in OECD The applies to offshore oil and gas production IEA estimates for revenue generated by the tax in 2004 were 7 808 million NOK 173 about US 1 3 billion in 2010 dollars According to IEA s 2005 Review 173 Norway s CO2 tax is its most important climate policy instrument and covers about 64 of Norwegian CO2 emissions and 52 of total greenhouse gas emissions Some industry sectors were exempted to preserve their competitive position Various studies in the 1990s and an economic analysis by Statistics Norway estimated the effect to be a reduction of 2 5 11 of Norwegian emissions compared to untaxed business as usual However Norway s per capita emissions still rose by 15 as of 2008 174 In attempt to reduce CO2 emissions by a larger amount Norway implemented an Emissions Trading Scheme in 2005 175 and joined the European Union Emissions Trading Scheme EU ETS in 2008 176 As of 2013 roughly 55 of CO2 emissions in Norway were taxed and exempt emissions are included in the EU ETS 176 Certain CO2 taxes are applied to emissions that result from petroleum activities on the continental shelf 177 This tax is charged per liter of oil and natural gas liquids produced as well as per standard cubic meter of gas flared or otherwise emitted 177 However this carbon tax is a tax deductible operating cost for petroleum production 177 In 2013 carbon tax rates were doubled to 0 96 NOK per liter standard cubic meter of mineral oil and natural gas 177 As of 2016 the rate increased to 1 02 NOK 178 The Norwegian Ministry of the Environment described CO2 taxes as the most important tool for reducing emissions 179 Sweden Edit Further information Climate change in Sweden In January 1991 Sweden enacted a CO2 tax of SEK 250 per 1000 kg 40 at the time or EUR 27 at current rates on the use of oil coal natural gas liquefied petroleum gas petrol and aviation fuel used in domestic travel Industrial users paid half the rate between 1993 and 1997 25 and preferred industries such as commercial horticulture mining manufacturing and pulp and paper were exempted entirely As a result the tax only covers around 40 of Sweden s carbon emissions 180 The rate was raised to SEK 365 60 in 1997 181 and SEK 930 in 2007 182 According to a 2019 study the tax was instrumental in substantially reducing Sweden s carbon dioxide emissions 183 The tax is also credited by Swedish Society for Nature Conservation climate change expert Emma Lindberg and University of Lund Professor Thomas Johansson with spurring a significant move from hydrocarbon fuels to biomass Lindberg said It was the one major reason that steered society towards climate friendly solutions It made polluting more expensive and focused people on finding energy efficient solutions 184 185 Switzerland Edit In January 2008 Switzerland implemented a CO2 incentive tax on all hydrocarbon fuels unless are used for energy clarification needed Gasoline and diesel fuels are not affected It is an incentive tax because it is designed to promote the economic use of hydrocarbon fuels 186 The tax amounts to SFr 12 per tonne CO2 the equivalent of SFr 0 03 per litre of heating oil US 0 108 per gallon and SFr 0 025 per m3 of natural gas US 0 024 per m3 187 Switzerland prefers to rely on voluntary actions and measures to reduce emissions The law mandated a CO2 tax if voluntary measures proved to be insufficient 188 In 2005 the federal government decided that additional measures were needed to meet Kyoto Protocol commitments of an 8 reduction in emissions below 1990 levels between 2008 and 2012 189 In 2007 the CO2 tax was approved by the Swiss Federal Council coming into effect in 2008 187 In 2010 the highest tax rate was to be CHF 36 per tonne of CO2 US 34 20 per tonne CO2 190 Companies are allowed to escape the tax by participating in emissions trading where they voluntarily commit to legally binding reduction targets 191 Emission allowances are given to companies for free and each year emission allowances equal to the amount of additional CO2 emitted must be surrendered by the company Companies are allowed to sell or trade excess permits However a company that fails to surrender sufficient allowances must pay the tax retroactively for each tonne emitted since the exemption was granted 189 As of 2009 some 400 companies operated under this program In 2008 and 2009 the companies returned enough credits to the Swiss government to cover their CO2 emissions The companies emitted about 2 6 million tonnes well below the limit of 3 1 million tonnes 192 Switzerland issued so many allowances that few emissions permits were traded 193 The tax is revenue neutral because revenues are redistributed to companies and to the Swiss population For example if the population bears 60 of the tax burden it receives 60 of the rebate Revenues are redistributed to all payers except those who exempt themselves from the tax through the cap and trade program 190 The revenue is given to companies in proportion to payroll 194 Tax revenues that were paid by the population are redistributed equally to all residents 190 194 In June 2009 the Swiss Parliament allocated about one third of the carbon tax revenue to a 10 year construction initiative This program promotes building renovations renewable energies waste heat reruse and building engineering 190 Tax revenue from 2008 to 2010 were distributed in 2010 190 In 2008 the tax raised around CHF 220 million US 209 million in revenue As of 16 June 2010 a total of around SFr 360 million US 342 million had become available for distribution 194 The 2010 revenue was about SFr 630 million US 598 million SFr 200 million US 190 million was to be allocated for the building program while the remaining SFr 430 million US 409 million was to be redistributed to the population 190 IEA commended Switzerland s tax for its design and that tax revenues would be recycled as sound fiscal practice 189 Since 2005 transport fuels in Switzerland have been subjected to the Climate Cent Initiative surcharge a surcharge of SFr 0 015 per liter on gasoline and diesel US 0 038 per gallon However this surcharge was supplemented with a CO2 tax on transport fuels if emissions reductions are not satisfactory In their 2007 review IEA recommended that Switzerland implement a CO2 tax on transport fuels or increase the Climate Cent surcharge to better balance the costs of meeting emissions reductions targets across sectors 195 Americas Edit Costa Rica Edit In 1997 Costa Rica imposed a 3 5 percent carbon tax on hydrocarbon fuels 196 A portion of the proceeds go to the Payment for Environmental Services PSA program which gives incentives to property owners to practice sustainable development and forest conservation 197 Approximately 11 of Costa Rica s national territory is protected by the plan 198 The program now pays out roughly 15 million a year to around 8 000 property owners 199 Canada Edit Main articles Carbon pricing in Canada Quebec carbon tax and British Columbia Carbon Tax In the 2008 Canadian federal election a carbon tax proposed by Liberal Party leader Stephane Dion known as the Green Shift became a central issue It would have been revenue neutral balancing increased taxation on carbon with rebates However it proved to be unpopular and contributed to the Liberal Party s defeat earning the lowest vote share since Confederation 200 201 202 203 The Conservative party won the election by promising to develop and implement a North American wide cap and trade system for greenhouse gases and air pollution with implementation to occur between 2012 and 2015 204 In 2018 Canada enacted a revenue neutral carbon levy starting in 2019 205 206 fulfilling Prime Minister Justin Trudeau s campaign pledge 206 The Greenhouse Gas Pollution Pricing Act applies only to provinces without provincial adequate carbon pricing 206 As of September 2020 seven of thirteen Canadian provinces and territories use the federal carbon tax while three have developed their own carbon tax programs 207 In December 2020 the Federal Government released an updated plan with a CA 15 per tonne per year increase in the carbon pricing reaching CA 95 per tonne in 2025 and CA 170 per tonne in 2030 208 Quebec became the first province to introduce a carbon tax 209 210 The tax was to be imposed on energy producers starting 1 October 2007 with revenue collected used for energy efficiency programs The tax rate for gasoline is CDN0 008 per liter or about CA 3 50 per tonne of CO2 equivalent 211 United States Edit Further information Climate change in the United States Greenhouse gas emissions by the United States and Climate change policy of the United States Estimated effect of a carbon tax on sources of United States electrical generation US Energy Information Administration A national carbon tax in the U S has been repeatedly proposed but never enacted For instance on 23 July 2018 Representative Carlos Curbelo R FL introduced H R 6463 212 the MARKET CHOICE Act a proposal for a carbon tax in which revenue is used to bolster American infrastructure and environmental solutions 213 The bill was introduced in the House of Representatives but did not become law 214 A number of organizations are currently advancing national carbon tax proposals To address concerns from conservatives that a carbon tax would grow government and increase cost of living recent proposals have centered around revenue neutrality 215 54 The Citizens Climate Lobby CCL republicEn 216 formerly E amp EI the Climate Leadership Council CLC and Americans for Carbon Dividends AFCD support a revenue neutral carbon tax with a border adjustment The latter two organizations advocate for a specific framework called the Baker Shultz Carbon Dividends Plan which has gained national bipartisan traction since its announcement in 2017 217 218 The central principle is a gradually rising carbon tax in which all revenues are rebated as equal dividends to the American people 219 This plan is co authored by and named after Republican elder statesmen James Baker and George Shultz 220 It is also supported by companies including Microsoft Pepsico First Solar American Wind Energy Association Exxon Mobil BP and General Motors 221 222 223 See also EditEconomics of climate change Cap and Share Carbon credit Carbon offset Congestion pricing Emissions Reduction Currency System Meat tax Polluter 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