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Latin American Policymakers Discuss Carbon Tax Policies

by Ulrika Lomas, Tax-News.com, Brussels

03 October 2017


Finance ministers and technical staff attended a two-day workshop in Bogata, Colombia, to discuss fiscal policy measures to tackle climate change.

Ahead of the event, which concluded on September 29, the World Bank said that delegates would "look at how finance ministries in Latin America can better use and design fiscal instruments that mitigate the impact of climate change." It added that talks would consider how to design climate-smart macroeconomic policies and develop financing strategies to implement the Nationally Determined Contributions (NDCs) established under the 2015 Paris Agreement.

Delegates, including finance ministers and/or government staff from Mexico, Chile, Peru, Brazil, Canada, the United States, and Norway discussed lessons learned regionally and internationally from the implementation of carbon pricing mechanisms.

"Colombia is committed to fiscal policies and reforms that help us to successfully implement the Paris Agreement, as shown in the tax reform approved last year where we included a carbon tax, among other climate related provisions," Colombia's Finance Minister, Mauricio Cardenas, said. "From instituting carbon taxes to strengthening social and economic resilience, finance ministers have access to a wide range of public policy instruments which could help their countries to manage the effects of climate change."

TAGS: Finance | tax | Chile | Colombia | Mexico | Norway | carbon tax | Brazil | Canada | Peru | United States | tax reform

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