The scope of carbon pricing initiatives accomplished through carbon taxation is increasing rapidly and is becoming a significant part of country policy strategies to achieve the nationally determined contributions under the 2015 Paris Agreement.
Carbon pricing has been around for much longer than many realize.
- Finland was the first country to introduce a carbon tax—in 1990.
- The world’s first carbon market—the European Union emission trading system—was established in 2005.
- As of 1 April 2022, 68 global carbon pricing initiatives—including both carbon taxes and emission trading systems—have been implemented.
Source KPMG
Latest Posts in "European Union"
- Pierrakakis at ECOFIN: Innovation and Digitalization as Europe’s Competitiveness Drivers
- Three Plead Guilty in €6.5 Million Tax Evasion and Money Laundering Case
- Transfer Pricing Adjustments and VAT Implications: Impact of Recent CJEU Decisions
- VAT Treatment of Loyalty Points in Lyko’s Scheme: Not Classified as Vouchers, Says AG Kokott
- Impact of New EU VAT Framework on Italian Distance Sales and Imported Goods