In this article, the author discusses the current use of carbon taxes around the world, and the possible future of such taxes.[1] The discussion is premised on the assumption that most, if not all, of the 190 nations that signed the 2015 Paris Agreement and are parties of the United Nations Framework Convention on Climate Change (UNFCCC) are genuinely committed to reducing emissions of carbon dioxide and other greenhouse gases (GHG) to achieve the goal articulated in the Paris Agreement, namely, limiting global warming to “well below” two degrees Celsius over the pre-industrial temperature level. Reducing emissions to this end will require legislative and regulatory reforms in the near and medium-term future, especially in developed economies.
Source IBFD
