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Background: Demand response is an important option for accommodating growing shares of renewable electricity, and therefore, crucial for the success of the energy transition in Germany and elsewhere. In conjunction with smart meters, real-time (or 'dynamic') electricity tariffs can facilitate the flexibilization of power consumption and reduce energy bills. Whilst such tariffs are already quite common in several EU member states, Germany lags behind in this respect. The country makes for an interesting case study because of the sheer volume of additional flexibility that its energy transition necessitates. Main text: This paper discusses how German policymakers can make real-time tariffs more attractive for households and thus entice them to better adapt their consumption to current market conditions. Following an analysis of the current impediments to the adoption of such tariffs, we discuss four policy options: (1) a more ambitious legal definition of real-time tariffs that can promote market transparency and leverage potential savings for consumers, (2) a shift in energy taxation that encourages the uptake of renewable power and increases price spreads, (3) a new model of dynamic network charges which combines grid-serving and market-serving incentives, and (4) a subsidy for users of real-time tariffs that helps internalise the benefits they provide to all electricity consumers. Given the similar regulatory framework, our suggestions should generally also apply to other countries in Europe and beyond. Conclusions: Overall, we argue that there is considerable scope for policymakers to better exploit market forces to ensure security of electricity supply at lower social cost. Our call for stricter regulation in order to allow the markets to better guide consumer behaviour may seem like a paradox—but it is one well worth embracing. [ABSTRACT FROM AUTHOR]

The purpose of this study is to perform a practical inquiry into the influence of environmental tax laws on the execution of climate‐related financial policies. Our research will assess the effectiveness of environmental tax measures in 23 European countries from 2011 to 2020. The panel‐corrected standard error (PCSE) model and the feasible generalized least squares (FGLS) model are used in the empirical examination of the link between environmental tax laws and the implementation of climate‐related financial measures. This study is based on panel data with cross‐sectional dependence. The results of our estimation highlight the need to improve policy effectiveness by using all four ecological tax indicators. These include total environmental tax revenue, energy tax revenue, pollution and resource tax revenue, and transportation tax revenue. Furthermore, we provide actual evidence clarifying the process by which the implementation of environmental tax policies improves the efficacy of climate‐related financial policies in the short term as well as the long term. According to the findings, a third of environmental tax policy indicators have a long‐term effect on the implementation of climate‐related financial measures, with no short‐term effects seen. Our findings are critical for economists and policy‐makers who support the environmental tax as an effective tool to promote a country's climate policy implementations. Highlights: We examine impacts of environmental tax on climate‐related financial policies.Environmental tax has a favorable impact on climate‐related financial policy adoption.Environmental tax enhance a country's climate‐related financial policies in the long‐term. [ABSTRACT FROM AUTHOR]

Copyright of FinanzRundschau is the property of De Gruyter 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 FinanzRundschau is the property of De Gruyter 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.)

Transportation infrastructure plays a significant role in exacerbating climate change as it contributes to a substantial increase in carbon dioxide (CO2) emissions. The sole economic sector in which European countries have not succeeded in reducing greenhouse gas (GHG)emissions is the transportation industry. Therefore, reducing transport-related emissions is a primary focus of emphasis in the European Union's efforts to meet its climate targets. Accordingly, this study analyzes the impact of renewable energy use, patent development, and energy taxes in the transport sector on the three different modes of transport-related emissions (aviation, road, and rail) in the 10 highest-income countries of the European Union over the period 2008–2020. The study uses the novel half-panel jackknife estimator for this analysis. The results of the estimation show that patents contribute to the reduction of CO2 emissions in aviation and rail transportation, while renewable energies are only effective in rail transportation. In the context of road transportation, energy taxes are effective in mitigating CO2 emissions. Based on these findings, it is recommended that European Union policymakers promote the use of electric vehicles and eco- friendly means of transportation in road transport through energy taxes, increase the use of renewable energy sources such as biodiesel in rail transport, and reduce CO2 emissions by supporting patents that promote green innovations in the aviation sector. [ABSTRACT FROM AUTHOR]

How governments choose green fiscal policies to achieve green transition is an urgent issue to be solved. In this context, an environmental-dynamic stochastic general equilibrium model is developed to analyze and compare the macroeconomic effects of fossil energy tax, natural resource tax and air pollution tax. The research shows that the supply-side policy, the natural resource tax, has a stronger impact on the economy than the other two demand-side policies, the fossil energy tax and air pollution tax. More importantly, supply-side policies are more effective than demand-side policies in two aspects: (1) all three policies can make up for the negative impact of tight fiscal policies on the economy, with supply-side policy offsetting the negative impact to a greater extent than demand-side policy; (2) all three policies can act as automatic stabilisers of the economy, with supply-side policy being more effective than demand-side policy in smoothing economic fluctuations. [ABSTRACT FROM AUTHOR]

This paper investigates the impact of a large electricity tax exemption on production levels, employment and input choices in the German manufacturing industry. For two policy designs, we show that exempted plants increase their electricity use. This effect is larger under a notched exemption policy, where passing an eligibility threshold yields infra-marginal benefits, compared to a policy without such benefits. We detect no significant impact of the exemptions on production levels, export shares and employment. Using counterfactual simulations, we document that notched policies substantially distort firms' production input choices when financial stakes are high and compliance costs are low. [ABSTRACT FROM AUTHOR]

Copyright of FinanzRundschau is the property of De Gruyter 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.)

Despite persistent housing affordability issues, energy policy and housing renovation are usually investigated separately from housing costs other than energy. Researchers have examined the financial viability of renovation attending to building conditions and the socio-economic characteristics of their occupants. However, the distributional impacts of renovation incentives and the potential of fiscal policy to redistribute housing costs remain understudied. Dutch fiscal policy, favouring homeownership, offers a relevant context to evaluate how property taxation can boost renovation rates. The novelty of this paper resides in investigating the impact of two policies, the current direct subsidy and a proposal for a green tax, on both the financial viability of renovation and the subsequent distribution of housing costs. The proposed green tax combines energy efficiency and taxation of property revenue. We employ a model considering marginal costs of housing renovation, obtained from a government dataset, and marginal benefits, drawn from a hedonic regression. We assess the distributional impacts of different policy scenarios by examining changes in user costs across income deciles. Our findings indicate that existing renovation subsidies exacerbate the regressive distributional impacts resulting from the current housing taxation system in the Netherlands. Introducing energy-efficiency-linked property taxation can make homeownership fiscality less regressive while incentivising housing renovation. Ultimately, this study highlights the importance of incorporating housing affordability as a fundamental element in renovation policies to balance environmental and distributional objectives. [ABSTRACT FROM AUTHOR]

The transmission environment of underwater wireless sensor networks is open, and important transmission data can be easily intercepted, interfered with, and tampered with by malicious nodes. Malicious nodes can be mixed in the network and are difficult to distinguish, especially in time-varying underwater environments. To address this issue, this article proposes a GAN-based trusted routing algorithm (GTR). GTR defines the trust feature attributes and trust evaluation matrix of underwater network nodes, constructs the trust evaluation model based on a generative adversarial network (GAN), and achieves malicious node detection by establishing a trust feature profile of a trusted node, which improves the detection performance for malicious nodes in underwater networks under unlabeled and imbalanced training data conditions. GTR combines the trust evaluation algorithm with the adaptive routing algorithm based on Q-Learning to provide an optimal trusted data forwarding route for underwater network applications, improving the security, reliability, and efficiency of data forwarding in underwater networks. GTR relies on the trust feature profile of trusted nodes to distinguish malicious nodes and can adaptively select the forwarding route based on the status of trusted candidate next-hop nodes, which enables GTR to better cope with the changing underwater transmission environment and more accurately detect malicious nodes, especially unknown malicious node intrusions, compared to baseline algorithms. Simulation experiments showed that, compared to baseline algorithms, GTR can provide a better malicious node detection performance and data forwarding performance. Under the condition of 15% malicious nodes and 10% unknown malicious nodes mixed in, the detection rate of malicious nodes by the underwater network configured with GTR increased by 5.4%, the error detection rate decreased by 36.4%, the packet delivery rate increased by 11.0%, the energy tax decreased by 11.4%, and the network throughput increased by 20.4%. [ABSTRACT FROM AUTHOR]

Developed countries have long tried to increase their environmental standards to mitigate the negative effects of economic activities. For this purpose, they impose environmental taxes, energy taxes, and emission limits. In the last decade, a new measurement technique for environmental policy was introduced: the Environmental Policy Stringency Index (EPS index). This index takes values from 0.00 to 6.00, and higher values refer to more stringent environmental policies, whereas lower values suggest lax policies. This study aims to explore the impact of the EPS index on economic activities at the aggregate and sectoral levels for 20 European countries covering the period 1995–2020. For this purpose, this study utilizes the dynamic panel data approach, the two‐step system generalized method of moments (GMM) estimation method. The empirical findings show that an increase in the EPS index causes a decline in economic growth at the aggregate level. At the sectoral level, it was found that the industry sector is negatively affected by increases in environmental standards. In addition to the system GMM results, this study employs the Dumitrescu–Hurlin panel non‐causality test to detect causal linkages between variables. The empirical findings show that the EPS index Granger causes economic activity in almost all sectors. The empirical results indicate that environmental regulations should be carefully designed to prevent economic contraction. Policymakers need to develop policies to decrease dependency on fossil fuels in industrial production. Thus, they can subsidize firms to invest in productive and innovative areas. [ABSTRACT FROM AUTHOR]

Protecting and improving environmental quality is essential for sustainable development. This study considers natural resource depletion, resource tax, institutional quality, and green innovation, which are likely to impact environmental quality. These issues are addressed by Sustainable Development Goals (SDGs) 7, 12, and 18. The study aims to uncover the influence of the variables we have considered on environmental quality in a sample of 18 Organisation for Economic Co‐operation and Development (OECD) countries from 1994 to 2020. Before panel data analysis, we conducted preliminary tests to determine the most suitable techniques. The econometric procedure comprises four stages: unit root analysis, cointegration analysis, estimation of long‐run coefficients using two different methods, and panel causality analysis. The empirical findings suggest that resource tax and green energy innovation positively impact environmental quality for the panel in the long run. Results based on the country show that institutional quality has a negative impact on environmental quality in Portugal but a positive impact in Luxembourg. Although resource taxes positively impact environmental quality in Portugal, they harm Luxembourg. Lastly, natural resource depletion negatively impacts environmental quality in Luxembourg. There are no statistically significant results for other countries. The study concludes with policy recommendations. [ABSTRACT FROM AUTHOR]

Carbon emissions are a significant global issue, posing substantial problems for countries. To control this problem, countries use environmental taxes as a tool. In addition, they are trying to reduce carbon emissions by using renewable energy sources at the production level. Based on this, in this study, the effect of environmental taxes and renewable energy consumption on carbon emissions was examined using the system GMM method for 1995-2020 period data for 29 EU member countries. Employing the dynamic panel analysis method, the study aims to explain the trend of carbon emissions over the years through variables such as environmental taxes and renewable energy consumption. The findings reveal a significant positive relationship between CO2 emissions and environmental tax revenues. Specifically, a 1% increase in environmental tax revenues results in a 0.077% decrease in CO2 emissions. Furthermore, increasing renewable energy consumption also significantly reduces carbon emissions. These findings suggest that for a sustainable environment, state policies should focus on environmental taxes and renewable energy consumption. [ABSTRACT FROM AUTHOR]

Rates of achieving Urban Sustainability vary between world countries, it is one of the United Nations Sustainable Development Goals (SDGs 20230). Sustainable urbanism could be achieved through some common basic mechanisms such as awareness, enacting binding laws and legislation, imposing taxes, and fees, or providing various fiscal and urban incentives. Developing countries often do not resort to using fiscal incentives to avoid its reduction effect on their limited financial resources, and they may also avoid imposing relevant taxes such as carbon tax, energy tax, and climate change tax to prevent its negative effect on the competitiveness of the developing industrial and economic sectors there. Therefore, the research aims to propose the most appropriate urban incentives for Egypt and developing countries in general, with minimum negative commercial effect, and as one of the most influential means towards sustainability to fulfill the Egyptian Housing Strategy and activate GPRS “Green Pyramid Rating System”. The research follows comparative methodology, it compares the commonly used incentives in many countries globally and regionally. It identifies the incentives that may be more appropriate for Egypt and other developing countries in general. [ABSTRACT FROM AUTHOR]

The Inflation Reduction Act has provided a massive boost in energy investments over the last two years, but the true transformation in energy tax policy is still coming. The existing production and investment tax credits are scheduled to change dramatically for projects that begin construction after this year. Gone will be the old versions of Code Sections 45 and 48, which picked winners and losers by prescribing specific categories of property that qualified. Under new Sections 48E and 45Y, any technology meeting new “technology neutral” standards can potentially benefit. But there will still be winners and losers depending on how the IRS interprets the rules. Newly proposed regulations finally give us some insight into what will qualify, but leave some major questions unanswered. The authors explore key aspects of the rules [ABSTRACT FROM AUTHOR]

Results of this study go against previous expectations regarding the positive effects of boards' and owners' gender diversity and family ownership on SMEs' green behaviors, expressed by the implementation of proactive environmental strategies (PES) and energy consumption monitoring (ECM). We show that such generally accepted and recommended concepts may not always work, specifically within Central and Eastern European (CEE) countries. Based on the foundations of stakeholder theory, we surprisingly reject hypotheses expecting positive effects of boards' gender diversity on SMEs' green behaviors. Compared to the research to date, we newly examine the effect of the frequency of manager–employee meetings on SMEs' green behaviors. We show that SMEs' implementation of PES and ECM requires a different frequency of employee engagements. In addition, we confirm that the presence of environmental managers is fruitful for the implementation of PES in family firms. We also reveal that family firms' ECM is significantly triggered by energy taxes, but also by the owners' gender diversity. By linking the managerial perspective including employees' engagement and PES with the technical discipline of ECM, this study provides several theoretical and practical implications. [ABSTRACT FROM AUTHOR]

Copyright of Umsatzsteuer-Rundschau is the property of De Gruyter 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 Umsatzsteuer-Rundschau is the property of De Gruyter 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.)

Reducing carbon dioxide emissions and achieving carbon neutrality have become hot topics of global concern. China has elevated its response to climate change to a national strategic level, where the green tax system plays a crucial role in implementing the dual-carbon strategy. This paper systematically analyzes the green tax systems of the Organisation for Economic Co-operation and Development (OECD)--encompassing environmental pollution taxes, energy taxes, vehicle and transportation taxes, and resource taxes. Based on this analysis, it proposes that China should establish a multifaceted green tax system including environmental protection tax, resource tax, and farmland occupation tax. Furthermore, it suggests an integrated approach combining systematic tax incentives such as corporate income tax, value-added tax, consumption tax, and vehicle purchase tax. This comprehensive green taxation framework, covering development, production, consumption, and emission stages, aims to drive high-quality green economic and social development through both tax incentives and restrictions, implementing a "dual-driving" mechanism. This study provides a basic framework and practical path for building a green tax system in China, especially studying the sources of different green taxes and their interrelationships, which enriches the theoretical and practical values related to taxation. [ABSTRACT FROM AUTHOR]

Green transition is in the core of the European policy agenda to achieve the ambitious goal of climate neutrality following the launch of the European Green Deal. The cornerstone of the new growth strategy of Europe is resource efficiency which focuses on shifting to a more sustainable production paradigm by conserving scarce resources and by prioritizing enhanced environmental performance. Scattered efforts to investigate the drivers of resource efficiency measures have shed light on the key drivers, however, those consider resource efficiency measures in isolation neglecting for feedback loops influencing green transition. Therefore, we develop a conceptual framework to study green transition as a system of resource efficiency measures affected by feedback loops, path dependence, green technologies, and green policy tools. We mobilize the analysis by devising a unique balanced panel covering the EU-28 from 2010 through 2019, including policy efforts paving the way for green transition. Econometric results based on a system of fractional probit models, indicate that resource efficiency measures are intertwined via feedback loops, especially in the case of environmental efficiency. Green technologies affect green transition, however, rebound effects emerge in the case of energy efficiency. Past performance affects current levels pushing towards divergence. Evidence suggests that green taxation fosters energy efficiency whereas hinders environmental efficiency. The asymmetric operation of feedback loops and green taxation on energy and environmental efficiency highlights that horizontal policies hinder rather than foster green transition. This study contributes to SDGs 7, 12, 13 and 16. [ABSTRACT FROM AUTHOR]

In this article, we analyze the correlation between GDP/capita variation, primary and renewable energy consumption and greenhouse gas emissions on the one hand, and green taxes on the other. Green taxes are the main instruments used to limit activities that have a negative impact on the environment. These consist of taxes paid by producers and/or consumers for any activity that generates pollution. The results of dynamic regressions, validated by the applied robustness tests, indicate a significant and positive correlation between primary energy consumption and total environmental taxes, respectively energy taxes. At the same time, this shows that variation in GDP/capita significantly and positively influences transport taxes and pollution taxes. In contrast, net greenhouse gas emissions and the supply, transformation and consumption of renewable sources and waste do not significantly influence the total green taxes and their components. This finding is useful to both academic research and government policies for the realistic substantiation of the levels of green tax revenues and for establishing appropriate measures meant to reduce CO2 emissions. [ABSTRACT FROM AUTHOR]

The shift towards environmentally friendly and sustainable energy sources has become crucial due to global warming and increasing environmental concerns. To facilitate this transition, policymakers need to understand the factors that influence it. Thus, this study examined the role of financial development, green technological innovations, and environmental taxes on energy transitions in the case of Europe nations by utilizing the data from 1995 to 2015. Our results from FMOLS and DOLS approaches showed that financial development and green technological innovation have a positive and significant relationship with the energy transition, while environmental taxes have a negative but significant connection. Similarly, economic growth has a positive and significant effect on environmental taxes. Moreover, the findings of MMQR revealed that financial development and green technological innovations are significant till the 80th quantiles. Similarly, carbon emissions are significant at all quantiles, while environmental taxes are significant at the 80th and 90th quantiles only. Likewise, economic growth showed a significant connection from the 40th to 90th quantiles. Similarly, the causality analysis showed that financial development, green technological innovations, and carbon emissions have a bidirectional relationship with energy transition. This study has significant importance for the policymakers and government of European Unions. [ABSTRACT FROM AUTHOR]

Environmental protection tax is of great significance to the realization of an environment-friendly society. Using data from 280 Chinese cities from 2010 to 2020, this paper measures total factor energy efficiency in China by the super slack-based measure model. The impact of China's environmental protection tax reform on total factor energy efficiency is tested through differences-in-differences method, and its transmission mechanism is explored. Environmental protection tax reform policies have a significant positive impact on total factor energy efficiency. Environmental protection tax reform policies have greater impact on resource-intensive cities in central region and cities with lower initial energy efficiency. Cities with increased tax have positive spillover effects on the neighboring cities. This study provides empirical evidence for further optimization of environmental protection taxes and energy efficiency. The structure of the environmental tax system should be optimized, and the environmental tax policy should be implemented according to local conditions. [ABSTRACT FROM AUTHOR]

In the new wave of the scientific and technological revolution, clean production and digital transformation are the primary directions of development for energy-intensive industries. In this study, we examined the impact of the 2016 Chinese Environmental Protection Tax Law (EPTL2016) on energy-intensive firms' financial performance and explored the role of digital transformation using panel data from Chinese A-share-listed companies. Using the difference-in-differences method, we found that the EPTL2016 has significantly improved energy-intensive firms' financial performance by incentivizing their digital transformation but has at the same time moderated the economic benefits of digital transformation. Moreover, state-owned enterprises have been more effective at improving their financial performance through digital transformation under the pressure of the EPTL2016. From a regional perspective, the EPTL2016 has enhanced energy-intensive firms' financial performance primarily through digital transformation in regions with better digital infrastructure, and through green transformation in regions highly dependent on resource and in regions with stricter environmental governance. [ABSTRACT FROM AUTHOR]

African nations encounter difficulties enforcing regulations and providing incentives for using renewable energy sources. However, several nations are making efforts to encourage renewable energy through financial and tax advantages. Therefore, a shift to renewable energy is essential for African nations to experience sustainable growth and lessen environmental deterioration. Similarly, the extant literature examining green taxes' influence on renewable energy technology has documented equivocal findings. Hence, there is a need for a more thorough investigation. This study, therefore, explores the influence of green taxation on renewable energy technologies of emerging countries in Sub-Saharan Africa. We employed data from a sample of 28 countries of 54 African countries spanning 21 years from 2001 to 2021, providing a panel of 588 country-year observations. The Organisation for Economic Co-operation and Development (OECD) and the World Bank Dataset provided all the study's data. A heterogeneous dynamic panel data modelling using the autoregressive distributed lag (ARDL) has been adopted. The study found that green taxes might be used to mitigate the adverse effects of non-renewable energy activities on the environment in Africa. Considering the findings of the components of green taxes, it was recognised that an increase in energy-related tariffs would lead to a growth in Africa's use of renewable energy. It was further established that an increase in transport taxes increases the adoption of renewable energy technologies in Africa. A comparative analysis between the commonwealth and non-commonwealth countries showed that green taxes of commonwealth countries in Africa significantly contribute to the growth of renewable energy technologies compared to non-commonwealth countries in Africa. Primarily, the results of this study can be a valuable resource for African governments and policymakers as they develop policies and evaluate legislation about the usage of renewable energy sources and other green practices. Finally, the study can shed light on creating and using efficient tax laws that support renewable energy sources. [ABSTRACT FROM AUTHOR]

We analyze a Pareto optimal income tax problem à la Mirrlees in which households consume three types of goods: energy goods, energy‐efficient investments, and nonenergy goods. The two main ingredients of our normative analysis are: (i) an indirect relationship between energy and the satisfaction of energy needs, as energy‐efficient investments transform energy into services, such as light, heating, and air conditioning; and (ii) imperfect information of the policy designer as regards the level of energy efficiency of households' housing and their labor market productivity. Each household differs with respect to these two latter characteristics, and the government designs a nonlinear income tax combined with energy and energy‐efficient investment nonlinear pricing that maximizes a weighted sum of households' utilities. We show that a benevolent social planner should distort energy prices in a way that depends on the difference between the saturation of energy needs and the complementarity between energy and the level of energy efficiency in the provision of energy services. A sufficient condition for energy consumption to be subsidized is that the rebound effect is small. Second, when individuals can invest in energy efficiency on top of energy consumption, these investments should always be subsidized and the marginal subsidy should always be higher than the one on energy consumption. [ABSTRACT FROM AUTHOR]

The exceptional rise in overall economic activities has deteriorated environmental sustainability around the world. However, countries around the globe are implementing strategies for reaching the global climate objective. For this purpose, OECD countries committed many efforts, although their pledges and results are not parallel to the level of the Paris Agreement's ambition. This study examines the impact of eco-innovation, environmental taxes, and renewable energy consumption on the environmental performance of selected OECD countries over the period of 2006 to 2020. This study uses the generalized method of moments (GMM) and instrumental variables 2 stage least square (2SLS) methods. For robustness checks, this study uses a quantile regression approach. We conclude that an increase in the adoption of renewable energy and green innovation has a statistically significant impact on controlling CO2 emissions. Moreover, the empirical model is expanded by incorporating environmental taxes as an explanatory variable. The expanded model showed that the imposition of environmental taxes has a detrimental impact on the reduction of CO2 emissions. Moreover, on the contrary, an increase in economic activities, measured by GDP, is responsible for rising CO2 emissions in OECD countries. In light of the results we obtained, policy recommendations are provided. [ABSTRACT FROM AUTHOR]

Following the release of the proposed regulations on the requirements and procedure for transferring federal income tax credits under the Inflation Reduction Act of 2022 on June 14, 2023, the market for selling and purchasing tax credits became more active. This article discusses important considerations for prospective tax credit purchasers who are looking to enter the tax equity market. [ABSTRACT FROM AUTHOR]

Purpose: Environmental degradation resulting from human activities may adversely affect human health in multiple ways. Until now, policies aimed at mitigating environmental problems such as climate change, environmental pollution and damage to biodiversity have failed to clearly identify and drive the potential benefits of these policies on health. The conducted study assesses and demonstrates how specific environmental policies and instruments influence perceived human health in order to ensure input for a data-driven decision process. Design/methodology/approach: The study was conducted for the 2004–2020 period in European Union (EU) countries with the use of dynamic panel data modeling. Verification of specific policies' impact on dependent variables allows to indicate this their effectiveness and importance. As a result of the computed dynamic panel data models, it has been confirmed that a number of significant and meaningful relationships between the self-perceived health index and environmental variables can be identified. Findings: There is a strong positive impact of environmental taxation on the health index, and the strength of this relationship causes effects to be observed in the very short term, even the following year. In addition, the development of renewable energy sources (RES) and the elimination of fossil fuels from the energy mix exert positive, although milder, effects on health. The reduction of ammonia emissions from agriculture and reducing noise pollution are other health-supporting factors that have been shown to be statistically valid. Results allow to identify the most efficient policies in the analyzed area in order to introduce those with the best results or a mix of such measures. Originality/value: The results of the authors' research clearly indicate the health benefits of measures primarily aimed at improving environmental factors, such as environmental taxes in general. The authors have also discovered an unexpected negative impact of an increase in the share of energy taxes in total taxes on the health index. The presented study opens several possibilities for further investigation, especially in the context of the rapidly changing geopolitical environment and global efforts to respond to environmental and health challenges. The authors believe that the outcome of the authors' study may provide new arguments to policymakers pursuing solutions that are not always easily acceptable by the public. [ABSTRACT FROM AUTHOR]

Climate change affects humanity in many ways, such as rising sea levels, water shortages, agricultural droughts, and the displacement of people. Thus, climate change threatens the enjoyment of human rights. States must therefore put in place effective mitigation and adaptation measures to combat climate change. But since no public budget can finance those transformation efforts, combatting climate change requires large sums of private capital. However, the international community has identified a multi-trillion dollar 'climate investment gap'. Against this backdrop, the present contribution argues that international human rights obligations call on states to urgently redirect private investment flows into climate mitigation and adaptation measures. The existence of such an obligation and its impact on concrete policy decisions is then illustrated by three practical examples: the announced withdrawal of European states from the Energy Charter Treaty, Austria's windfall tax on energy profits, and the US Inflation Reduction Act. [ABSTRACT FROM AUTHOR]

I develop a directed technical change model of economic growth and energy efficiency in order to study the impact of climate change mitigation policies on energy use. I show that the standard Cobb–Douglas production function used in the environmental macroeconomics literature overstates the reduction in cumulative energy use that can be achieved with a given path of energy taxes. I also show that, in the model, the government combines energy taxes with research and development (R&D) policy that favors output-increasing technology—rather than energy efficiency technology—to maximize welfare subject to a constraint on cumulative energy use. In addition, I study energy use dynamics following sudden improvements in energy efficiency. Exogenous shocks that increase energy efficiency also decrease the incentive for subsequent energy efficiency R&D and increase long-run energy use relative to a world without the original shock. Subsidies for energy efficiency R&D, however, permanently alter R&D incentives and decrease long-run energy use. [ABSTRACT FROM AUTHOR]

The aggravated global warming and energy crisis have greatly challenged the healthy and sustainable development of society worldwide. Improving energy efficiency is one of the vital ways to overcome the dilemma. Existing studies explore the impact of environmental regulation on energy efficiency; however, the potential impact of the environmental protection tax (EPT) on urban energy efficiency has received little attention. Using the panel dataset of 278 Chinese cities from 2011 to 2019, the unified efficiency index (UEI) based on a total non-radial directional distance function (TNDDF) is first used to calculate urban energy efficiency. A difference-in-differences (DIDs) model is conducted to explore the impact of the EPT policy on the urban UEI and its potential mechanisms. The findings indicate that: (1) The average UEI in cities experienced an uptrend and a downtrend during 2011–2019. The overall UEI levels were low, especially in Jiaxiaguan, Tianshui, and Huyang cities. (2) The EPT policy significantly increases energy efficiency for the heavily polluting cities by approximately 5.21% more than that of the non-heavily polluting cities. (3) Heterogeneity analysis shows that EPT has a better effect on improving UEI in higher-level economic and non-resource-based cities. (4) Mechanism analysis implies that EPT boosts the urban UEI by stimulating urban green technology innovation, upgrading the industrial structure, and introducing foreign direct investment. This study offers empirical evidence and implications for policymakers using EPT to achieve higher urban energy efficiency and sustainable targets. [ABSTRACT FROM AUTHOR]

Energy, a basic input to the economic system, plays a pivotal function in development; at the same time, it raises concerns and hurdles to global economies as a result of negative externalities associated with its usage. Economies set various measures to limit these negative externalities and encourage citizens toward renewable energy utilization. Considering a panel of high-income economies over the period of 1990–2020, we empirically examine whether energy-related tax policies (ENT) are helpful to tackle the issue of energy-related greenhouse gas emissions (ENGHGs). Furthermore, we also investigate the role of digitalization (DIG) and financial risk (FINR) for its possible impact on ENGHGs. The advanced econometric techniques include diagnostic tests, Method of Moment Quantile Regression (MMQR), for robustness validation quantile regression, and finally Dumitrescu and Hurlin panel causality check. The findings reveal that ENT policies of selected economies are not helpful to limit ENGHGs in 25th and 50th quantiles effectively. Nevertheless, due to the progressive rise in ENT in the 75th and 90th quantiles, ENT significantly helps to smoothen the path towards a sustainable future. Furthermore, GDP increases, while improvement in FINR decreases ENGHGs. As the selected economies are developed and high-income, it is suggested that a progressive rise in ENT may further limit the issue of ENGHGs. [ABSTRACT FROM AUTHOR]

Today, since the renewable energy transformation has not taken place yet, economic growth brings with it the devastating effects of climate change. There are various tax applications to remove these effects and new tax types have started to be included in the economy. Emissions trading system (ETS) is currently implemented in European Union countries (EU) to prevent carbon leakage. In the near future, the Carbon Border Adjustment Mechanism (CBAM) will be implemented gradually. These regulations will be a trigger for countries exporting to EU countries in terms of reducing CO2 emissions. However, since the carbon tax application has just begun, its relationship with economic growth cannot be examined. For this reason, in this study, the enviromental tax, which is the sum of energy, transportation and pollution taxes was focused on and the causality relationship between economic growth and it was examined. Correlogram, Dickey-Fuller and Augmented Dickey-Fuller (ADF-1979) and Philips-Perron (PP-1988), Johansen and Juselins (1990) cointegration test and finally Granger (1969) Causality test were applied. As a result of the study, one-way causality from economic growth to enviromental tax was determined. It was proven that a 1 percent increase in economic growth will increase the enviromental tax by approximately 0.005. [ABSTRACT FROM AUTHOR]

Purpose: This paper analyzes the role that the climate change concern (CCCi) has on the willingness to accept an environmental tax. The author aims to grasp how individual general tax preferences can differ with respect to the specific (environmental) tax. He focuses attention to the Italian case since it has been argued that the potential acceptability of a carbon tax in Italy is relatively high, and this topic has been scarcely explored so far among Italian citizens (Rotaris and Danielis, 2019). Design/methodology/approach: The author conducted an online survey among 514 Italian economics students. Findings: The CCCi positively influences the environmental tax morale (ETMi). The general tax morale (TMi) positively affects the specific (environmental) TMi. The CCCi alters individual tax preferences. The author evidenced that also subjects with low TMi turned out to be willing to pay an environmental tax if aware of the environmental issues. Research limitations/implications: Although the author used a common methodology in this strand of research, he is aware that in an online survey individuals can be influenced by the self-reporting and hypothetical choice bias (see Swamy et al., 2001), that in turn can characterize their reported preferences. Moreover, even if economics university students are commonly used as a subject pool in experimental economics settings, and although several studies showed that the behavioral responses of students are largely the same as those of nonstudents in identical experiments (for a discussion see Alm, 2012; Choo et al., 2016), there is awareness that in this case, they are not taxpayers yet (Barabas and Jerit, 2010). Practical implications: The author's results remark the importance of increasing climate change awareness among people to let them be more willing to pay the environmental tax, for instance through investments in sensibilization campaigns on the importance of energy source usage and climate-related topic. Then, an increase in the general TMi leads to an increase in the specific (environmental) TMi. The author's evidence showed that people with high tax morale logically recognize the positive impact of paying an environmental tax when the CCCi increases, since the more the theme becomes important, the larger the willingness to pay the specific tax. For this reason, policymakers should carry on campaigns to increase the general level of TMi to increase the overall tax compliance level and the relative tax revenues, following the guidelines given by the Organisation for Economic Co-operation and Development (2019) to support taxpayer education programs, such as including TMi research and analysis into education programs, improving the ease of paying taxes or strengthening revenue–expenditure links to build the social contract. Social implications: It should be paramount to increase awareness about environmental topics among people in general and among those who are relatively tax immoral. The author's results remark on the importance of targeting energy and environmental tax policies to groups rather than to individuals. According to this evidence, we support the use of nonmonetary tools to nudge people in the environmental transition by changing their behavior in energy use, for instance through the taxation on fuel and other nonrenewable energy resources. Originality/value: It is the first empirical study that analyzes the impact of CCCi on the environmental TMi in Italy, in particular controlling for the role of the general willingness to pay taxes (TMi). To obtain individual attitudes toward tax payment, most of the empirical studies in behavioral economics employ international surveys. For studies across citizens living in European countries, the European Social Survey (ESS) and European Values Study (EVS) represent the most used ones (see, for instance, Martinez-Vazquez and Torgler (2009) in Spain; Torgler and Werner (2005) in Germany; Nemore and Morone (2019) in Italy). However, these surveys do not allow to study the relationship between the environmental and general TMi across the same subject pool. In fact, despite the ESS (2016) provides individual responses about the willingness to pay an environmental tax, it does not provide information about the general individual attitude toward tax payment (this information is contained only in the ESS wave of 2004, hence referring to a different subject pool). On the contrary, each wave of the EVS (i.e. 2008, 2017) provides information about the general individual attitude toward tax payment, but this survey does not provide a question regarding the willingness to pay an environmental tax. Therefore, to obtain information about the willingness to pay both general and environmental taxes, across the same subject pool, it is needed to carry out a survey. [ABSTRACT FROM AUTHOR]

Despite changes in regulatory policy, greenhouse gas emissions into the atmosphere have not decreased. A methodology for the search and selection of sources of financing for activities to combat climate change is proposed. The basis of the research methodology is the bibliometric and predictive analysis of the generated databases. It is proposed to use not only environmental tax revenues but also other sources of financing as part of mixed capital. It was revealed that the dynamics of environmental tax revenues are inferior to the dynamics of total tax revenues in GDP. The largest share of environmental taxes belongs to transport and energy taxes. The use of logical and predictive research approaches demonstrated that environmental revenues were insufficient and that extra funding and financial outsourcing were required for climate change activities. As a result of the correlation analysis, the most significant environmental revenues were for the following countries: France (0.981), Belgium (0.976), Greece (0.976), Austria (0.972), and Portugal (0.969). A negative Pearson correlation coefficient occurred for the countries: Denmark (-0.040), and Sweden (-0.101). To increase the significance of the coefficient, it is proposed to change the elements of environmental taxes in these countries. An outsourcer providing financial services to clients forms a regional environmental financial system. This will increase the rate of capital turnover and reduce the need for capital. The outsourcer will reduce "cash gaps" by promptly attracting financial tools and financial management techniques, accelerate the turnover period of mixed capital, and boost the effectiveness of managing environmental tax revenues. [ABSTRACT FROM AUTHOR]

The limited microeconometric evidence on the efficacy of environmental Negotiated Agreements (NAs) is an obstacle to both their introduction and effective design. We help fill this gap by providing evidence on the impact of the second Climate Change Agreements (CCAs) on business electricity consumption and employment. The CCAs are NAs offering a reduction on the Climate Change Levy (CCL), an energy consumption tax, in exchange for commitments to improve energy efficiency. We use the novel changes-in-changes method to account for heterogeneity in treatment effects. Our results indicate that the second CCAs yielded improved outcomes compared to the counterfactual of full CCL with an average reduction of − 4.81% in electricity consumption. They also reveal the importance of allowing for heterogeneity, as the impact on electricity consumption at the identified deciles varied between − 9.33 and 12.54%. This is a marked difference from the first CCAs which were found to increase consumption. The heterogeneity in treatment response is corroborated when extending the study to two large industrial sectors in the sample and when studying firms selecting differing target reporting methods. Confirming the findings from earlier studies of the first scheme, our results indicate a non-statistically significant reduction in employment, about − 4.6% on average, for the second CCAs. [ABSTRACT FROM AUTHOR]

The recent COP27 has propelled nations towards achieving reduced environmental degradation. Governments are, therefore, required to develop effective policy tools to improve their environmental sustainability plans. In line with this, an empirical study is required to explore the all-inclusive effect of ecological sustainability policy on ecological footprint (EFP) among the world's top renewable energy consumption countries from 1994 to 2018. Recent studies on environmental degradation have focused on renewable energy while neglecting the role of environmental tax. Thus, the current study fills this gap by exploring the role of environmental tax on ecological footprint. Furthermore, the study evaluates the direct and indirect impact of environmental tax and renewable energy on different levels of EFP using the method of moment quantile regression (MMQR). The DOLS, FMOLS, and panel GMM techniques are also applied to check the robustness of the MMQR results. The empirical results indicate that environmental tax and renewable energy directly and significantly reduce the EFP; however, these impacts are insignificant in countries with lower levels of environmental pollution. Furthermore, the findings indicate that environmental tax plays a leading role in changing the energy structure towards environmentally friendly energies. The results also show that economic globalization and human capital impact ecological footprint negatively. Finally, the results suggest that GDP and nonrenewable energy aggravates ecological footprint. The study results propose insights for policymakers to mitigate environmental degradation by boosting environmental tax to deter polluters and investing more in renewable energy development. [ABSTRACT FROM AUTHOR]

Renewable energy developers often have not had enough tax capacity to utilize the tax credits and depreciation deductions generated by energy projects and so have traditionally monetized those tax benefits by bringing tax equity investors with sufficient tax liability into the projects through joint ventures. 9 The direct pay option is available to taxable entities for a limited period of time with respect to following three tax credits: section 45Q (Carbon Oxide Sequestration Credit), section 45V (Clean Hydrogen Production Tax Credit), and section 45X (Advanced Manufacturing Production Credit). The Inflation Reduction Act (IRA) signed into law on August 16, 2022 has generated explosive interest in clean and renewable energy investment in the United States. [Extracted from the article]

Purpose: In 2017, Saudi Arabia introduced a 120% tax on energy drinks and a 50% tax on soft drinks. The impact of this policy on the consumption of sugar-sweetened beverages (SSB) among schoolchildren is not known in this country. The present study evaluated the impact of the excise tax on SSB consumption in the tri-city metropolitan area of Dammam-Khobar-Dhahran, Eastern Province, Saudi Arabia.Materials and Methods: A repeated cross-sectional design was used to examine the difference between pre- and post-tax SSBs consumption among schoolchildren (12-14 years old) in Dammam-Khobar-Dhahran cities. A beverage-consumption frequency questionnaire was completed by 453 participants before the tax implementation and 334 participants after the tax implementation. The tax on soft drinks was increased by 50% and on energy drinks by 120%. Pre-tax data were collected in May 2017 and post-tax data in April 2018.Results: The proportion of participants who consumed energy drinks was 46.1% (95% CI: 42-51) before tax implementation, decreasing to 38.4% (95% CI: 33-44) after tax implementation, a reduction of nearly 8%. 92.5% (95% CI: 90-95) of the participants consumed soft drinks before tax implementation and 94.6% (95% CI: 92-97) did so after tax implementation, an increase of about 2%.Conclusions: The study showed no statistically significant impact of tax implementation on the consumption of energy drinks and soft drinks in this sample of children. [ABSTRACT FROM AUTHOR]

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Copyright of FinanzRundschau is the property of De Gruyter 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 FinanzRundschau is the property of De Gruyter 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.)