{"id":38296,"date":"2023-11-17T17:42:04","date_gmt":"2023-11-17T17:42:04","guid":{"rendered":"https:\/\/newsblogsnew.ihbc.org.uk\/?p=38296"},"modified":"2023-11-17T17:42:04","modified_gmt":"2023-11-17T17:42:04","slug":"ihbc-finance-economics-signpost-a-global-carbon-tax-could-be-an-ethical-solution-to-the-worlds-problems","status":"publish","type":"post","link":"https:\/\/newsblogs.ihbc.org.uk\/?p=38296","title":{"rendered":"IHBC \u2018Finance & Economics\u2019 Signpost: \u2018A global carbon tax could be an ethical solution to the world\u2019s problems\u2019"},"content":{"rendered":"

\"\"Ioli Kynigou writing in New Civil Engineer<\/em> suggests global carbon tax could be an ethical solution to the world\u2019s.<\/h3>\n
image for illustration only – Open Government Licence v3.0<\/em><\/h6>\n

<\/p>\n

Ioli Kynigou in New Civil Engineer<\/em> writes:<\/p>\n

According to the IMF, today nearly 50 countries have carbon pricing schemes in place. Some countries applied an energy tax regardless of whether the energy originates from a renewable or a scarce resource. Some governments even subsidise the production and consumption of hydrocarbons rather than taxing it.<\/p>\n

The efficacy of any energy related pricing mechanism in decarbonising economies is therefore worth investigation.<\/p>\n

Historically, people experienced indirect forms of energy tax on the use of candles and windows. The Window Tax was withdrawn in 1851\u2026.<\/p>\n

Today, a carbon tax is paid by each vehicle\u2026<\/p>\n

The Africa Climate Summit in September 2023 was also in favour of a global carbon taxation regime\u2026<\/p>\n

The consequent risks are borne by both the organisations and governments\u2026.<\/p>\n

Subsequently, the success of any carbon pricing mechanism will depend on the following characteristics:<\/p>\n