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Europe |
The E.U.'s looking at a ‘carbon border tax.' What's a carbon border tax? |
2019-10-24 |
[WAPO] The incoming European Commission president, Ursula von der Leyen, was elected on a promise to deliver a "European Green Deal." A key component of her agenda is a carbon border tax. What exactly is a carbon border tax, and what are its consequences for the global fight against climate change? This is what you need to know. So what is a carbon border tax? Slowing global climate change will require reducing carbon emissions from a wide variety of sources. To do that, some countries have introduced carbon pricing plans to make carbon use more expensive and help the economy transition to zero carbon emissions. A carbon pricing plan could take the form of a standard tax on carbon emissions or a cap-and-trade system. But not all countries want to tackle climate change at all ‐ let alone set prices on emitting carbon. A carbon border tax, also known as a border carbon adjustment, imposes a fee on any product imported from a country without a carbon pricing plan. Hypothetically, the tax would adjust the price of the imported goods to be equal to those produced at home. PG&E is a company that was bankrupted by climate change. It won't be the last. Carbon border taxes could reduce global carbon emissions in three ways First, these tax adjustments could solve the problem of carbon leakage ‐ when carbon-intensive industries such as heavy manufacturing move to countries that don’t regulate carbon emissions. Second, they might help countries that want to lead on climate policy use their market power against those that don’t. Some observers hope that such taxes would encourage more countries to participate in global climate agreements. It might also help enforce these agreements by raising the cost of shirking on a deal. |
Posted by:Besoeker |
#10 That's a 401K if the dems get in... You can't have it until we say you can retire. |
Posted by: Bright Pebbles 2019-10-24 18:26 |
#9 Surprised EU doesn't have a Schrodinger's Tax. Your life savings are in an electronic access account, until you look. |
Posted by: swksvolFF 2019-10-24 15:39 |
#8 What exactly is a carbon border tax A border crossing melanin filter? |
Posted by: Skidmark 2019-10-24 12:46 |
#7 Could be cause for a bit more than a trade war. Say a trade embargo? |
Posted by: 3dc 2019-10-24 11:16 |
#6 What about Dunning-Kruger tax? The problem with that is those who would owe the most are completely sure they don't owe anything at all. |
Posted by: SteveS 2019-10-24 11:15 |
#5 I'm hoping the EUSSR go for a tobin tax and totally sink their own markets. |
Posted by: Bright Pebbles 2019-10-24 11:13 |
#4 If it's a tax, the EU will be 'looking at' it. What about Dunning-Kruger tax? |
Posted by: g(r)omgoru 2019-10-24 09:17 |
#3 If it's a tax, the EU will be 'looking at' it. |
Posted by: Raj 2019-10-24 08:53 |
#2 I assume the pic is NOT of Ursula von der Leyen |
Posted by: Mercutio 2019-10-24 08:31 |
#1 The E.U.'s looking at a ‘carbon border tax.' What's a carbon border tax? Graft |
Posted by: Procopius2k 2019-10-24 08:16 |