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Today’s Top Headlines

IMF Pushes Carbon Taxes After Paris COP21 Conference

by Mike Godfrey,, Washington

14 January 2016

Governments should prioritize the use of carbon pricing systems, including taxes, in their efforts to reduce carbon emissions, the International Monetary Fund (IMF) said in a recent report.

A new report from the IMF, After Paris: Fiscal, Macroeconomic, and Financial Implications of Climate Change, says carbon pricing systems are potentially the most effective carbon emission mitigation instruments, are straightforward to administer, raise revenues, and encourage technological changes towards low-emission investments.

The Fund said that the case for carbon taxes over other instruments can be particularly strong in developing economies. These countries may lack the capacity to enforce regulations and emissions trading schemes, potential markets may be thin, and energy taxes may be a relatively effective way of raising revenue from hard-to-tax enterprises, it said.

TAGS: environment | tax | investment | economics | fiscal policy | energy | gross domestic product (GDP) | International Monetary Fund (IMF) | China | environmental tax | manufacturing | carbon tax | regulation

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