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Carbon Tax

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  • A carbon tax is a tax on carbon-based fuels based on the amount of greenhouse gases (GHG) released by their burning.1

    • Puts a price on each tonne of GHG released upon burning

    • Sends price signal

    • Elicits a market response across the economy depending on the sectors covered by the tax

    • Countries/jurisdictions that have a carbon tax2 :

      • British Columbia

      • Ireland

      • Finland

      • Sweden

      • Great Britain (“Climate tax levy”)

      • Boulder, Colorado

      • Quebec

Issav Asimov, renowned scientist and author, spoke about carbon externalities and the need for a carbon tax in the late 1990s.

 

1. Ministry of Finance, Govt. of British Columbia,. (2012). What is a carbon tax? Retrieved January 10, 2014, from http://www.fin.gov.bc.ca/tbs/tp/climate/A1.htm

2. Carbon Tax Center. (2014). Where Carbon Is Taxed. Where carbon is taxed. Retrieved August 2, 2014, from http://www.carbontax.org/services/where-carbon-is-taxed/

 
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