Neutral carbon tax and environmental targets in Brazil

Pereda, Paula Carvalho; Lucchesi, Andrea; Garcia, Carolina Policarpo; Palialol, Bruno Toni

doi:10.1080/09535314.2018.1431611

Cited by 17 publications

(5 citation statements)

References 34 publications

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“…The case would improve to +0.3% and -2.1% if revenue was recycled to industries to cut labor taxes. Pereda et al, (2019) found a smaller impact of -0.2% at USD10/tCO 2 e, and -1% at USD50/tCO 2 e, if the carbon revenue was not recycled. However, if the carbon tax was designed to be revenue neutral with simultaneous reform of the distortionary PIS/Cofins taxes, a carbon price level of USD35.68/ tCO 2 e would be required, and it would yield +0.47% in GDP.…”

Section: Impact On Macroeconomicsmentioning

confidence: 92%

Impacts of Carbon Pricing on Developing Economies

Koh

Johari²,

Shuib³

et al. 2021

IJEEP

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Carbon pricing is widely recognized as an effective policy instrument for climate change mitigation. Carbon pricing have been imposed in 39 developed countries and eight middle-income countries. Eight more middle-income countries are considering its implementation. As experiences from industrialized countries may not be relevant to developing countries, this literature review fills a knowledge gap by collating the impacts of carbon pricing in developing economies to facilitate cross-learning. Some developing countries still have distortionary subsidies in place, while others are going through environmental fiscal reforms to nudge their societies and economies towards greenhouse gases emission reduction. Various studies demonstrated that safeguards introduced with carbon pricing could help firms to transition while maintaining the motivation to innovate to stay competitive. At the household level, given different energy consumption patterns, carbon pricing in developing economies is not necessarily regressive, especially for rural population. Aggregate impacts to employment rate and gross domestic product change over time as the economy restructures towards decarbonization. A well-designed carbon pricing policy package with revenue recycling mechanisms tailored to the socioeconomic circumstances of the country could achieve multiple dividends of economic growth, increased employment, improved equality, national debt reduction or accomplishment of other sustainable development goals.

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Section: Impact On Macroeconomicsmentioning

confidence: 92%

Impacts of Carbon Pricing on Developing Economies

Koh

Johari²,

Shuib³

et al. 2021

IJEEP

View full text Add to dashboard Cite

show abstract

“…They also give policy recommendations from the carbon trading perspective, which can also support our subsequent policy recommendations on the quality of green financial development in response to the quantitative analysis results. The study of Pereda, PC et al concluded that the adoption of a carbon tax would have a negative impact on GDP, wages and employment in the short term, but would reduce emissions and generate new government revenues, especially in the case of tax increases [25]. Their study provides a policy recommendation for carbon emission governance, which can provide us with subsequent policy recommendations.…”

Section: Literature Reviewmentioning

confidence: 99%

Exploring the Sustainable Development Path of a Green Financial System in the Context of Carbon Neutrality and Carbon Peaking: Evidence from China

Bai

2022

Sustainability

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In the 75th session of the United Nations General Assembly, the Chinese government first proposed the goal of carbon neutrality and carbon peaking. Since then, China’s economy and society have undergone a comprehensive green and sustainable development upgrade and transformation. The development of green finance can provide financial support for the achievement of the dual carbon goals and mitigate the impact of climate change, and more importantly can contribute to the sustainable development of the national economy and society. In this study, we innovatively draw on the quality function deployment theory in marketing to logically formulate the research idea of this paper. The greatest advantage of this approach is that it enhances the readability of this paper and enriches the research logic system of this paper. On this basis, we also applied the G1-entropy value method from fuzzy mathematical theory for quantitative research. In fact, it should be noted that the G1 method we propose in this study is actually an improved subjective assessment method, in which we introduce expert ratings to improve the reliability of the subjective assessment results. As we all know, financial system architecture and research is a common academic topic, but unlike the classical research on the development quality of financial systems, we innovatively addressed the actual national conditions in China and fully integrated green elements in the construction of the index system from the perspective of green finance and sustainability. Finally, we calculated the index weights through G1-entropy quantification, and qualitatively propose countermeasures for the development quality of China’s green finance for key index factors. In conclusion, we sort the contributions of this paper into the following three aspects: (1) we innovatively combined the quality function deployment theory and built the quantitative analysis process architecture in this paper, which enhanced the readability of this paper; (2) we realized the use of quantitative research for qualitative analysis and proposed the G1-entropy value method, which made up for the defects of the subjective and objective methods in the traditional evaluation methods; and (3) we realized the organic combination of quantitative and qualitative analysis, and proposed relevant countermeasure suggestions based on the quantitative index calculation results, which provided relevant countermeasure suggestions for promoting the sustainable and high-quality development of green finance in China.

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“…In whether a carbon tax can produce triple dividends (economic growth, carbon reduction, social welfare improvement) and achieve sustainable development, the recycling methods of carbon tax revenue play a decisive role. There are two main carbon tax recovery methods: revenue-neutral and revenue-positive methods [7,8]. When the carbon tax is introduced in the revenue-neutral type, other taxes are canceled or reduced to maintain revenue neutrality.…”

Section: Introductionmentioning

confidence: 99%

Recycling Carbon Tax under Different Energy Efficiency Improvements: A CGE Analysis of China

Liu

et al. 2021

Sustainability

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Carbon emission reductions and sustainable development have become hot issues in international conferences. As the most direct instrument for carbon emission reductions, the carbon tax has not been favored by policymakers because of its negative effect on the economy. To achieve low-carbon sustainable development, we use a computable general equilibrium (CGE) model to simulate carbon tax recycling under different energy transfer efficiency improvements to achieve triple dividends of carbon emission reductions and social welfare improvement. This paper contributes to the literature on recycling carbon tax for triple dividends in China. The simulation has three main findings: (i) the carbon tax revenue recycling toward reducing the resident income tax rate yields triple dividends without any energy transfer efficiency improvement; (ii) the losses of GDP and social welfare are exaggerated. Meanwhile, the carbon tax brings down carbon emissions and total carbon intensity of GDP with a mild impact on the Chinese economy; (iii) the improvement of energy transfer efficiency demonstrates the advantages of recycling carbon tax and is essential for achieving triple dividends. Thus, we propose the following policy recommendations: (i) the pilot carbon tax mechanism should be launched in high-carbon sectors (such as coal) and then implemented in other industries gradually; (ii) the government should strongly support the technological improvement of energy transfer efficiency in order to achieve sustainable development.

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Neutral carbon tax and environmental targets in Brazil

Cited by 17 publications

References 34 publications

Impacts of Carbon Pricing on Developing Economies

Impacts of Carbon Pricing on Developing Economies

Exploring the Sustainable Development Path of a Green Financial System in the Context of Carbon Neutrality and Carbon Peaking: Evidence from China

Recycling Carbon Tax under Different Energy Efficiency Improvements: A CGE Analysis of China

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