Extractives
News
Israel to impose carbon tax, starting with fossil fuels
From 2023 to 2028, a carbon tax will be applied, at slowly increasing levels, to coal, liquified petroleum gas, fuel oil, petcoke and gas, in a move expected to cover about 80 percent of Israel’s greenhouse gas emissions.
The world’s largest carbon market is set for a historic revamp. Europe’s shipowners are concerned
The EU is due to propose the biggest revamp of its Emissions Trading System since the policy launched in 2005. Already the world’s largest carbon trading program, the ETS is
Canadian taxpayers have spent at least $23B on pipeline subsidies and supports since 2018: report
As calls to end government subsidies of fossil fuels grow in intensity, a new report finds that Canadian governments have allocated billions of taxpayer dollars to building and expanding new pipelines in the past year alone.
Reports
Why fossil fuel producer subsidies matter (SEI)
The Stockholm Environment Institute features a new article in Nature which explains how subsidies affect fossil fuel investment and why they deserve greater attention in global modelling analyses. To read
Adding Fuel to the Fire: Cheap Oil during the COVID-19 Pandemic (World Bank)
The outbreak of COVID-19 and the wide-ranging measures needed to slow its advance triggered an unprecedented collapse in oil demand, a surge in oil inventories, and a record one-month decline
The fiscal implications of the low-carbon transition (OECD)
Fossil fuels play an important role in the budget of several governments. On the one hand, half of the countries identified as resource-rich derived 50% or more of their government
