During the European Green Week (EGW), the “Reforming fiscal policies to combat climate change” Conference took place in Brussels. This event examined the role of fiscal policies in implementing the Paris.
The most relevant findings were:
- Almost 90 countries including some form of carbon pricing or other fiscal policies in their Intended Nationally Determined Contributions (INDCs);
- Only around 12 per cent of annual global GHG emissions are formally priced;
- Fiscal policies such as carbon pricing and fossil fuel subsidy reform can provide a cost-effective approach to addressing climate change;
- Panellists agreed that carbon pricing does not have to mean higher taxes, but rather smarter, more efficient taxes.
You can find a summary of the event here.