Fossil fuel subsidies (USD, billions):
Fossil fuel subsidies with externalities (% of GDP):
As the United States staggers through another year of devastating wildfires, drought, storms and other calamities, the infrastructure bill before Congress would pour major resources into a response. The measure agreed to over the weekend includes billions of dollars to better prepare the country for the effects of global warming, in what could be the largest investment in climate resilience in American history.
Cutting greenhouse gas emissions quickly would save tens of millions of lives worldwide, a new study finds. It’s the latest indication that climate change is deadly to humans, and that the benefits of transitioning to a cleaner economy could be profound.
protect the EU’s domestic industry from carbon leakage, when goods that would normally be bought locally are instead imported from companies that don’t face the same emissions regulations. The United States and Japan have voiced concerns about the planned tax.
Carbon pricing helps countries steer their economies towards and along a carbon-neutral growth path. This paper considers how the design of carbon pricing instruments affects their effectiveness, efficiency and feasibility.