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We study climate policy in an economy with heterogeneous households, two types of goods (clean and dirty), and a climate externality from the dirty good. Using household expenditure and emissions data, we document that low-income households have higher emissions per dollar spent than high-income households, making a carbon tax regressive. We build a model that captures this fact and study climate policies that are neutral with respect to the income distribution. A central feature of these policies is that resource transfers across consumers are ruled out. We show that the constrained optimal carbon tax in a heterogeneous economy is heterogeneous: Higher-income households face a higher rate. Our main result shows that when the planner is limited to a uniform carbon tax, the tax follows the Pigouvian rule but is lower than the unconstrained carbon tax. Finally, we embed this model into a standard incomplete markets framework to quantify the policy effects on the economy, climate, and welfare, and we find a Pareto-improving result. The climate policy is welfare-improving for every consumer. [ABSTRACT FROM AUTHOR]

It is difficult to assess the effectiveness of investment strategies that screen companies based on environmental criteria to hedge climate change risk because physical risks have not yet fully materialized and policies to combat climate change are usually widely anticipated. This paper sidesteps these limitations by analyzing the stock market response to plausibly exogenous changes in expectations about the level of a carbon tax in Germany. The risk-adjusted return on two sustainable investment approaches-screening companies based on environmental scores and on firms' carbon footprint-around the carbon tax news reveals that firms with a high environmental score did not perform any better than those with a low environmental score. In contrast, the stock price of firms with low carbon emissions increased in value relative to those with a high carbon footprint. Carbon intensity explains the cross-sectional reaction to the carbon tax news because it predicts revisions in expected profitability. [ABSTRACT FROM AUTHOR]

Denmark has become the first country to introduce a tax on livestock emissions in an effort to reduce greenhouse gas emissions. The tax, which mimics the CO2 tax imposed on Danish industries, will charge farmers DKr300 ($43) per ton of carbon dioxide produced per year, with the amount increasing over time. The tax is expected to cut Denmark's greenhouse gas emissions by 1.8 million tonnes of CO2 in 2030 and is seen as a potential model for other countries to follow. However, the response from Denmark's agri-food industry has been mixed, with some expressing concerns about the impact on food production and the effectiveness of the tax. [Extracted from the article]

Denmark is set to implement the world's first tax on carbon emissions from livestock farming. Starting in 2030, farmers will be charged DKr300 ($43) per ton of carbon dioxide produced per year, increasing to DKr750 per ton in 2035. However, a 60% tax deduction means farmers effectively pay DKr120 per ton of CO2 emitted and DKr300 five years later. The tax is expected to cut Denmark's greenhouse gas emissions by 1.8 million tonnes of CO2 in 2030 and help the country move closer to its 2030 target of reducing emissions by 70% compared to 1990 levels. The tax proposals have been agreed upon by various negotiation parties and are awaiting approval from the national parliament. [Extracted from the article]

Major agriculture-exporting countries, including Brazil, India, Indonesia and the US, have raised objections to the EU Deforestation Regulation [ABSTRACT FROM AUTHOR]

This paper explores how to recycle carbon tax revenue back to households to maximize welfare. Using a general equilibrium lifecycle model calibrated to reect the heterogeneity in the U.S. economy, we find the optimal policy uses two thirds of carbontax revenue to reduce the distortionary tax on capital income while the remaining one third is used to increase the progressivity of the labor-income tax. The optimal policy attains higher welfare and more equality than the lump-sum rebate approach preferred by policymakers as well as the approach originally prescribed by economists - which called exclusively for reductions in distortionary taxes. [ABSTRACT FROM AUTHOR]

Uncertainty surrounding if and when the U.S. government will implement a federal climate policy introduces risk into the decision to invest in capital used in conjunction with fossil fuels. To quantify the macroeconomic impacts of this climate policy risk, we develop a dynamic, general equilibrium model that incorporates beliefs about future climate policy. We find that climate policy risk reduces carbon emissions by causing the capital stock to shrink and become relatively cleaner. Our results reveal, however, that a carbon tax could achieve the same reduction in emissions at less than half the cost. [ABSTRACT FROM AUTHOR]

India has on different platforms raised its concerns over the EU's decision to impose carbon tax on certain sectors as it would hurt the country's exports [ABSTRACT FROM AUTHOR]

The Food and Agriculture Organisation of the United Nations (FAO) has launched a roadmap at COP28 in Dubai, aiming to achieve global food security by 2050 while staying within the 1.5C global warming temperature target. The roadmap focuses on ten key areas, including food loss and waste, forest and wetlands, and clean energy, and sets targets for each area. If these targets are met, it is estimated that 150 million people will no longer face hunger by 2025, emissions from carbon soils will be reduced by 5%, and agrifood systems will be CO2 neutral. However, some experts argue that the roadmap does not go far enough in addressing the need for nature conservation and power inequalities in the food system. The launch of the roadmap follows a report that revealed a decline in climate finance for the agrifood sector. Investors and stakeholders have welcomed the strategy but called for more detail on areas such as deforestation, healthy diets, and water and antibiotic usage. [Extracted from the article]

The Green New Deal is best understood as an ambitious mobilization of the economic and environmental resources of the country to achieve, within a period of ten years, the twin targets of a cleaner economy with net-zero greenhouse gas emissions and a more equal and fair society where workers can get decent paying jobs with benefits, healthcare, housing and economic security. The challenge with the Green New Deal is to combine these two goals and address the question of financing both in a practical as well as an effective manner. As I explain in this paper, one such solution could be a carbon tax. A well-designed carbon tax could raise over a $100 billion in revenues on an annual basis, which could then be used to achieve other social and economic policy goals. Keywords: Green New Deal, Carbon Tax, EITC, CTC, I. INTRODUCTION The Green New Deal is best understood as an ambitious mobilization of the economic and environmental resources of the country to achieve- within a period of ten years-the [...]

MAY 2019 Executive Summary The Alliance for Market Solutions (AMS) has proposed a tax on 'carbon' (emissions of greenhouse gases, or GHG) as a 'market-oriented solution to one of America's [...]

The article offers information on the market-based greenhouse gas emission reduction legislation imposed by the U.S. Congress. It mentions the legislation market-based approaches, such as a cap-and-trade system or a carbon tax or emissions fee program. It discusses the market forces to minimize national costs of emission reductions in the U.S.

The article offers information on the congressional interest in market-based greenhouse gas (GHG) emission control legislation include distribution of allowance value or tax revenue, mechanism to address carbon-intensive imports, and additional GHG reduction measures; and mentions that in a carbon tax or emissions fee program, policymakers attach a price to GHG emissions or the inputs that create them.

A country report for Iceland is presented from publisher Marketline with topics including gender equality, internet access and carbon tax.

The UK government on December 18 decided to implement its Carbon Border Adjustment Mechanism starting 2027 [ABSTRACT FROM AUTHOR]

A country report for Iceland is presented from publisher Marketline, with topics including economic growth, gender equality report, and impact of low carbon tax on environmental pollution.

Keywords: Bakery and Cereal; ESG; Shelf-stable; News; Paulig Group EN Bakery and Cereal ESG Shelf-stable News Paulig Group N.PAG N.PAG 1 04/25/23 20230421 NES 230421 Paulig Group has established a "climate fund" to help the food and beverage company achieve its emission reduction goals. Paulig has used "a climate fee for emission ton" to work out the budget needed to cut its CO2 emissions each year. [Extracted from the article]

Dairy & Soy Food, Eggs, ESG, Meat, News Keywords: Dairy & Soy Food; Eggs; ESG; Meat; News EN Dairy & Soy Food Eggs ESG Meat News N.PAG N.PAG 1 04/04/23 20230331 NES 230331 Twenty of the 40 largest livestock producers are forecast to see "net operating losses" by 2030 due to the impact of the climate crisis on their operations, a new report has predicted. [Extracted from the article]

The article provides an overview of the market-based greenhouse gas emission control legislation in the U.S. It mentions that proposals from the 116th Congress would establish a carbon tax or emissions fee program. It also mentions that proposals range in the scope of emissions covered from carbon dioxide emissions from fossil fuel combustion to multiple GHG emissions from a broader array of sources.

The article focuses on the use of carbon tax approach for reducing greenhouse gas emissions in the U.S. Topics discussed include impact of greenhouse gases on global climate change; effects on energy prices and energy use on environment; and attaching a carbon price to certain imported materials and products for protecting environment.

The article discusses the U.S. Congressional Research Service report on Market-Based Greenhouse Gas Emission Reduction Legislation from the 108th Through the 115th Congresses. Topics include legislation on Market-Based Greenhouse Gas Emission Reduction such as a cap-and-trade system or a carbon tax or fee program and the economic impacts that may result from the program.

In 2022, India's 27 per cent exports of iron, steel, and aluminium products of value $8.2 billion went to the EU [ABSTRACT FROM AUTHOR]

The article focuses on climate scientists agree that greenhouse gas (GHG) emission increases have contributed to observed climate change and that continued increases in GHG emissions will contribute to future climate change. It mentions GHG emissions cap-and-trade system or a carbon tax or emissions fee and carbon tax or emissions fee is a policy tool that provides a financial incentive to reduce GHG emissions. It also mentions carbon tax would generate a new revenue stream.

Dairy & Soy Food, ESG, Meat, News, Danish Crown, Arla Foods Keywords: Dairy & Soy Food; ESG; Meat; News; Arla Foods; Danish Crown EN Dairy & Soy Food ESG Meat News Arla Foods Danish Crown N.PAG N.PAG 1 02/28/23 20230222 NES 230222 Denmark's independent advisory council has recommended a farming emissions tax to help the country meet its climate targets. [Extracted from the article]

The article presents a report focusing on the funding and financing of highways and public transportation in the U.S. Topics discussed include the issues with the revenue generation for the Highway Trust Fund of the U.S., the need to fix the issues with taxes on gasoline and carbon, and the public-private partnerships in transportation.

Keywords: Environment; ESG; Pan-industry; Analysis; Homepage EN Environment ESG Pan-industry Analysis Homepage N.PAG N.PAG 1 11/15/22 20221111 NES 221111 Food manufacturing companies and brands that thought the pandemic, the cost-of-living crisis and the focus on climate change would have seen campaigners pull back on packaging have been left sorely disappointed. Efforts to reduce packaging, integrate more reusable packaging and ensure what's remaining is easily recyclable and contains as much recycled content as possible will all help companies curb emissions. Food companies insist commitment remains So will the ambitious climate commitments made by food companies see efforts to tackle packaging wane?. [Extracted from the article]

The article presents a country report on the economic, social, and political condition of Canada, as of July 2014. Topics discussed include speculation on possible early election in the country under Prime Minister Stephen Harper's authority, the growing popular support for carbon tax and green subsidies, and the continuing economic imbalances in the country. Other issues discussed are tariff, international agreements, corruption, and labor conditions.

The article reports on political, financial, and economic developments in Australia as of June 2014 and assesses its country risk. Topics covered include the stability of the government of Prime Minister Tony Abbott, the possibility of the passage of carbon tax with new senate, and the focus on demand as the economy rebalances. Also presented is a commentary on Australia's politics and economy published on November 1, 2013.

The article offers information on the revenue-neutral carbon tax reform launched by British Columbia (BC). It mentions that Canada among the Organisation for Economic Co-operation and Development (OECD) countries has per capita emissions of 20.3 kilogram in 2010. It mentions that BC have significant greenhouse gas-intensive industries.

The article focuses on the fiscal adjustment, environmental effectiveness and competition focused on carbon tax and fiscal crisis in Ireland. It focuses on the rise in the gross domestic product (GDP) and employment and the fall in unemployment rate to 4.6 percent. It mentions that the government is placing guarantee arrangement to protect deposits including covered bonds, senior debt, and dated subordinated debt.

The article presents an outlook on the political and economic performance of Australia for 2013 to 2017. It examines the political stability of the country, including government measures like the carbon tax and Minerals Resource Rent Tax. It also explores the relation of Australia with other countries, as well as its policy trends, fiscal and monetary policies, economic growth, inflation and exchange rates.

This publication provides a country report on Australia as of August 1, 2012. It provides an outlook for 2012-2016, including challenges to the leadership of Prime Minister Julia Gillard, the government's carbon tax, and the country's public finances. According to the report, inflation is very low and the deficit on trade in goods and services widened in May. Employment grew by 0.4 percent in the 12 months to June 2012.

The article offers information related to Australia such as the economic and political outlook from 2012-2016. It says that the impending carbon tax of the government will still be the source of political contention, despite the approval of the parliamentary. It states that there is a strengthening trend in the growth of the economy of the country, while the consumer price inflation is expected to slow by an average of 2.7% in 2012.

The article describes the developments on personal taxes in Australia. The current Australian government funds contribute to reductions to personal taxes along with addition of new taxes, Temporary Flood and Cyclone Reconstruction Levy and a carbon tax programme. Australians who work overseas must announce all of their foreign revenues to the Australian Taxation Office so they are given credits for taxes paid on their foreign income.

The article looks at the political developments in Australia. Australian prime minister Julia Gillard reveals the information on the carbon tax in July 2011, where it will be applied on 500 businesses at 23 Australian dollars per tonne and generate 95 percent emission cut of 2000 levels as of 2020. Transparency International Corruption Perceptions Index put Australia at 8th place in 2010 out of 180 countries assessed for government corruption.

Copyright of OECD Environment Working Papers is the property of Organisation for Economic Cooperation & Development and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of OECD Environment Working Papers is the property of Organisation for Economic Cooperation & Development and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The article focuses on the need for the creation an internal pan-European energy market for achieving energy security in Europe. It discusses the need for a super-grid and a strong regulator, and the separation of gas and electricity networks from supply businesses. It mentions that the European Union (EU) Emissions Trading Scheme (ETS) could be replaced by a carbon tax administered by member states, which would create a revenue stream to fund renewable and clean sources of energy.

The article offers information on the economic policy in France. It states that the 2010 budget is aimed to help the economy recover from the rapid deterioration of its public finances in 2009. It notes that the government plans to control current expenditure by reducing the number of civil servants such as teachers and armed forces personnel. Furthermore, the government will also introduce new carbon tax on petrol, diesel, and fuel oil to help lift the economy.

The likes of Mars (total emissions 33MtCO2e), Danone (26MtCO2e), Nestlé (113MtCO2e) and Unilever (32MtCO2e) all insist they are prioritising carbon cuts over carbon offsets - kind of. On page 11 of Unilever's climate tranisition action plan, the Knorr maker says: "We will not seek to meet our emissions reduction targets through the practice of purchasing and retiring carbon credits, known as offsetting." Keywords: Bakery and Cereal; Dairy; Dairy alternatives; Eggs; Environmental; Fresh produce; Frozen; Ice Cream; Infant Formula and Baby Food; Meat alternatives; Analysis; Homepage; Arla Foods; Corporate responsibility; Danone; Mars; Nestle; Sustainability Watch; Unilever EN Bakery and Cereal Dairy Dairy alternatives Eggs Environmental Fresh produce Frozen Ice Cream Infant Formula and Baby Food Meat alternatives Analysis Homepage Arla Foods Corporate responsibility Danone Mars Nestle Sustainability Watch Unilever N.PAG N.PAG 1 03/02/22 20220224 NES 220224 To offset or not to offset? Unilever says where carbon credits are generated from projects supported by the fund they are not counted towards the company's emission reduction targets. [Extracted from the article]

The article discusses the potential of investing in environment and green policies as a source of new jobs. International scientific community mentions that increasing greenhouse gas emissions resulted to climate change serve as posed threat to sustainable development and living standards. It points out that the advantage of green policies such as carbon taxes or cap-and-trade schemes, which are possible to generate government revenues resulting to reduce labour taxes and increase labour demand.

Keywords: Bakery and Cereal; Dairy; Dairy alternatives; Eggs; Environmental; Fresh produce; Frozen; Ice Cream; Infant Formula and Baby Food; Meat alternatives; Analysis; Corporate responsibility; Danone; Grupo Bimbo; JBS; Kraft Heinz; Mars; Mondelez International; Nestle; PepsiCo; Premier Foods EN Bakery and Cereal Dairy Dairy alternatives Eggs Environmental Fresh produce Frozen Ice Cream Infant Formula and Baby Food Meat alternatives Analysis Corporate responsibility Danone Grupo Bimbo JBS Kraft Heinz Mars Mondelez International Nestle PepsiCo Premier Foods N.PAG N.PAG 1 12/27/21 20211221 NES 211221 In this guide, you will see food manufacturers linking their targets on reducing emissions to Scopes 1, 2 and 3. It plans to reduce the absolute GHG emissions across its direct operations (Scopes 1 and 2 emissions) by 75% by 2030, against a 2015 baseline. PepsiCo In January 2021, PepsiCo set a target for absolute greenhouse-gas emissions and a pledge on net-zero emissions. The road to net zero - Big Food's emission pledges. [Extracted from the article]

The article presents a comparison of the proposed carbon dioxide cap-and-trade system and other proposals to reduce greenhouse gas emissions in the U.S. It compares standards-based policies with the cap-and-trade system with regard to environmental effectiveness, cost effectiveness and distributional equity. It explains how carbon tax and cap-and-trade differ in the way that a carbon price signal is determined.

The article focuses on the concerns raised with carbon pricing in the U.S. to address global climate change. It discusses the objections pertaining to cap-and-trade systems and a carbon tax, including its impact on the economic growth of the country. It claims that carbon tax pricing will allow firms to pay for the right to pollute. Concerns specific to a carbon tax include the possibility that it may not provide a consistent and steady stream of revenue.

The article discusses the key elements of a carbon tax swap in the U.S. that is both revenue and distributionally neutral to address global climate change. Elements in the carbon tax proposal include a refundable tax credit for sequestered greenhouse gases (GHGs) and other approved sequestration activities. It cites the long-term and short-term impact of a carbon tax on emissions. It also discusses other carbon policies that would complement the carbon tax and would contribute to reductions in carbon emissions.

The article focuses on the reason why carbon pricing through a tax is preferable than cap-and-trade approach in the U.S. in addressing global climate change. It notes the advantage of a carbon tax over the cap-and-trade systems in terms of political, economic, administrative and efficiency grounds. It compares the outcome of carbon tax and cap-and-trade system in relation to the costs and benefits of greenhouse gas (GHG) emissions.

This paper describes a carbon tax swap that is both revenue and distributionally neutral. The tax swap would levy a tax on greenhouse gas emissions. The revenue would be used to fund a reduction in the income tax, tied to earned income. Specifically, the proposal calls for a tax on greenhouse gas emissions at an initial rate of $15 per ton of carbon dioxide equivalent and gradually increasing over time. A refundable tax credit would be offered for sequestered greenhouse gases and other approved sequestration activities. In addition, to offset the new carbon tax, the proposal would implement an environmental tax credit in the personal income tax equal to the employer and employee payroll taxes on initial earnings up to a limit. This paper begins with a discussion of the problem of greenhouse gas emissions and provides a rationale for setting a price on carbon emissions. It then provides a distributional analysis of the proposal described above. Following this analysis, it makes a case for why carbon pricing through a tax should be considered a viable alternative to carbon pricing through a cap-and-trade system. It concludes with a response to various objections made to carbon pricing in general and a carbon tax in particular. [ABSTRACT FROM AUTHOR]