Traditionally unpopular carbon taxes could be achieved with regulatory compliance, IMF head tells Cop 28
Diverting the trillions of dollars by which the world subsidises fossil fuel production each year, and putting an implicit price on carbon emissions, would generate the vast amounts of cash needed to tackle the climate crisis, the head of the International Monetary Fund has said.
Governments have been put off explicitly pricing carbon by the potential unpopularity of new carbon taxes, which have become favourite targets of anti-climate politicians and parties around the world, from the US and Australia to Europe and the UK.
When you put a price on carbon, decarbonisation accelerates
Kristalina Georgieva, of the IMF
It is not so easy to identify the carbon content and then to put on an appropriate price
Kristalina Georgieva
Continue reading…
