Green fiscal policies such as fossil fuel subsidy reform, carbon-energy taxation, emissions trading, air pollution taxes and green subsidies can play a critical role in limiting energy-related negative impacts on human health, air quality and the climate. By pricing harmful emissions and driving the transition to clean and low-carbon energy sources and increasing demand for renewable energy technologies.
The post-Soviet state has increased its climate ambition but campaigners say it could do more to insulate draughty housing and promote clean energy.
Only 15 per cent of China’s newly added post-Covid-19 national and municipal bonds went to green, sustainable, or low-carbon projects, says Greenpeace. China approved a fiscal stimulus package of 6.35 trillion yuan (US$984 billion) in May last year to help the country’s economic recovery after the pandemic.
The negotiating team for the European Union at the ongoing World Trade Organization talks on harmful fishery subsidies is insisting that any deal allow for continued tax exemptions for fuel purchases.
South Africa’s carbon tax laws are set to change with the international frameworks it aligns to, as reflected in the latest amendment to the carbon offset regulations.
Emissions will rise again this year and next year, after a fall last year, and 2023 is now on track to see the highest levels of carbon dioxide output in human history, equalling or surpassing the record set in 2018, according to forecasts released by the International Energy Agency.
Few countries in the region have tied green components to their stimulus packages, which contain some environmentally harmful measures. Green recovery policies and strategies can help put a country on the path to economic recovery while bringing environmental and sustainability benefits.
The African Union Commission launched a new five-year continental Green Recovery Action Plan 2021-2027. The launch was officiated by H.E Felix Tshisekedi, Chairperson of the African Union and President of
The G20 countries have provided more than $3.3tn (£2.4tn) in subsidies for fossil fuels since the Paris climate agreement was sealed in 2015, a report shows, despite many committing to tackle the crisis.
The European Union (EU) and China announced sweeping plans this week to dramatically reduce greenhouse-gas emissions to slow the pace of climate change. Many scientists say the warming climate is creating more
Fossil fuel subsidies persist despite the climate crisis. They distort the energy market by keeping fossil fuel prices artificially low. Removing these subsidies must be accompanied by social programmes that will reduce the impact on the poorest household.
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