In this week's newsletter, I4CE invites you to take a look at carbon taxes and markets around the world, and to take stock of the European allowance market shaken by the covid crisis. In particular, you will discover that these carbon pricing systems generated 42 billion euros in revenue in 2019 for States and local authorities, mostly used for ecological transition or allocated to general budgets. The current crisis will drive down the revenues of the carbon markets, which is a challenge for public budgets and the financing of the low-carbon transition.
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NEW REPORT! Global Carbon Account in 2020
Carbon pricing systems continue to develop around the world. In the 2020 edition of its Global Carbon Accounts, I4CE presents the main trends and gives you an overview of existing carbon taxes and markets: the countries that have adopted them, the sectors covered, the price levels, the government revenues generated and what is being done with them. Find all this information summarized in our infographics.
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The European carbon market put to the test by Covid
The covid crisis has caused a sharp drop in the price of carbon on the European market, the EU ETS, and will contribute to the increase in the surplus of allowances. This makes it necessary to reform the mechanism already in place to manage this surplus, or even to implement a floor price. However, for Charlotte Vailles from I4CE and Nicolas Berghmans from IDDRI, this crisis should lead us to consider the EU ETS no longer as the "centrepiece" of Europe's decarbonation, but as a "safety net".
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#I4CE_Report #FlashFromThePast
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A first 360-degree climate assessment of France’s State budget
The low-carbon transition raises many challenges for countries' taxation, which are far from being limited to debates on carbon taxes and markets. There are many taxes and tax exemptions that contribute to the transition, even if they were not introduced with this objective in mind. And there are as many that are climate unfriendly. To identify and reform them, several countries, including France, have embarked on "green budgeting". Discover or rediscover the climate assessment of France's budget conducted by I4CE in 2019.
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