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Zonder onderwerpscode: economie

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Carbon pricing should be a central element of climate mitigation strategies, helping countries transition to 'net zero' greenhouse gas emissions over the next three decades. Policymakers considering introducing or scaling up carbon pricing face technical choices between carbon taxes and emissions trading systems (ETSs) and in their design. This includes administration, price levels, relation to other mitigation instruments, use of revenues to address efficiency and distributional objectives, supporting measures to address competitiveness concerns, extension to broader emissions sources, and coordination at the global level. Political economy considerations also affect the choice and design of instruments. This paper discusses such issues in the choice between and design of carbon taxes and ETSs, providing guidance, broader considerations, and quantitative analyses. Overall, carbon taxes have significant practical advantages over ETSs (especially for developing countries) due to ease of administration, price certainty to promote investment, the potential to raise significant revenues, and coverage of broader emissions sources-but ETSs can have significant political economy advantages.

Emissions trading.

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The United States has pledged to become carbon neutral by 2050, meet sectoral objectives (e.g., for carbon free power, electric vehicles) and encourage greater mitigation among large emitting countries and of international transportation emissions. Fiscal policies at the national, sectoral, and international level could play a critical role in implementing these objectives, along with investment, regulatory, and technology policies. Fiscal instruments are cost-effective, can enhance political acceptability, and do not worsen, or could help alleviate, budgetary pressures. Domestically, a fiscal policy package could contain a mix of economy-wide carbon pricing and revenue-neutral feebates (i.e., tax-subsidy schemes) with the latter reinforcing mitigation in the transport, power, industrial, building, forestry, and agricultural sectors. Internationally, a carbon price floor among large emitters (with flexibility to implement equivalent measures) could effectively scale up global mitigation, while levies/feebates offer a practical approach for reducing maritime and aviation emissions.

United States --- Macroeconomics --- Taxation --- Industries: Energy --- Environmental Conservation and Protection --- Natural Resources --- Energy: Government Policy --- Climate --- Natural Disasters and Their Management --- Global Warming --- Environmental Economics: Government Policy --- Taxation and Subsidies: Externalities --- Redistributive Effects --- Environmental Taxes and Subsidies --- Nonrenewable Resources and Conservation: General --- Hydrocarbon Resources --- Energy: Demand and Supply --- Prices --- Public finance & taxation --- Climate change --- Environmental management --- Petroleum, oil & gas industries --- Carbon tax --- Greenhouse gas emissions --- Non-renewable resources --- Natural gas sector --- Fuel prices --- Taxes --- Environment --- Economic sectors --- Environmental impact charges --- Greenhouse gases --- Natural resources --- Gas industry

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The pan-Canadian approach to carbon pricing, announced in October 2016, ensures that carbon pricing applies throughout Canada in 2018, with increasing stringency over time to reduce emissions. Canadian provinces and territories have the flexibility to either implement an explicit price-based system—with a minimum price of CAN $10 per tonne of carbon dioxide equivalent in 2018, increasing to CAN $50 per tonne by 2022—or an equivalently scaled emissions trading system. This paper discusses the rationale for, and design of, the price floor requirement; its (provincial-level) environmental, fiscal, and economic welfare impacts; monitoring issues; and (national-level) incidence. The general conclusion is that the welfare costs and implementation issues are manageable, and pricing provides significant new revenues. A challenge is that the floor price by itself appears well short of what will be needed by 2030 for Canada’s Paris Agreement pledge.

Macroeconomics --- Public Finance --- Taxation --- Environmental Conservation and Protection --- Natural Resources --- Climate --- Natural Disasters and Their Management --- Global Warming --- Environmental Economics: Government Policy --- Taxation and Subsidies: Externalities --- Redistributive Effects --- Environmental Taxes and Subsidies --- Business Taxes and Subsidies --- National Government Expenditures and Related Policies: General --- Energy: Demand and Supply --- Prices --- Nonrenewable Resources and Conservation: General --- Public finance & taxation --- Climate change --- Excise taxes --- Environmental management --- Carbon tax --- Greenhouse gas emissions --- Fuel tax --- Public expenditure review --- Fuel prices --- Taxes --- Environment --- Expenditure --- Non-renewable resources --- Environmental impact charges --- Greenhouse gases --- Motor fuels;Taxation --- Expenditures, Public --- Natural resources --- Canada

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