The reform of the carbon pricing system as a central element of the leadership of the European Union in the fight against climate change

Authors

  • Pedro González-Gaggero Prieto-Carreño Socio de EY Abogados (España)

DOI:

https://doi.org/10.51302/rcyt.2024.18959

Keywords:

carbon pricing, ETS reform, CBAM, maritime transport emissions, environmental taxes

Abstract

In the framework of the Fit for 55 package the European Union (EU) has decided to conduct a substantial reform of its carbon pricing policy, the main instrument at its disposal to reach its ambitious decarbonization targets. The elements of this policy are both tax measures, such as the amendment of the Directive 2003/96, of 27 October 2003, restructuring the Community framework for the taxation of energy products and electricity, and others equivalent to a tax nature, such as the reform of the EU emission trading system or the introduction of the new carbon border tax adjustment mechanism (CBAM).

The outcome of the joint implementation of these new developments will be a significant increase of the economic costs of the carbon emissions linked to the economic activities developed in the EU, probably leading to a transformation of the industrial and the transport activities in the EU, with a pace and intensity unknown in the EU up to now. The tax professionals and tax researchers would do better not to stand aside of the new tax and tax-equivalent measures approved by the EU, as they are going to play a role even more critical than the one played in previous processes of economic transformation taken place in Europe in the past.

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Author Biography

Pedro González-Gaggero Prieto-Carreño, Socio de EY Abogados (España)

Socio de EY Abogados, responsable del área de Aduanas, II. EE. y Fiscalidad Medioambiental. Abogado en ejercicio, máster en Asesoría Fiscal y agente de aduanas titulado (Ministerio de Hacienda). Miembro del claustro de profesores de los másteres de las Universidades de Loyola y Complutense o Instituto Cajasol. Coordinador del Manual de fiscalidad ambiental de la FIC (2018), coautor de los Mementos Lefebvre de impuestos especiales (2019) y de aduanas (2021), de la obra Finanzas sostenibles (Aranzadi, 2021) o del Libro Blanco para la reforma fiscal (CEOE; IEE, 2022).

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Published

2024-03-01

How to Cite

González-Gaggero Prieto-Carreño, P. (2024). The reform of the carbon pricing system as a central element of the leadership of the European Union in the fight against climate change. Revista De Contabilidad Y Tributación. CEF, (492), 99–136. https://doi.org/10.51302/rcyt.2024.18959