The reform of the carbon pricing system as a central element of the leadership of the European Union in the fight against climate change
DOI:
https://doi.org/10.51302/rcyt.2024.18959Keywords:
carbon pricing, ETS reform, CBAM, maritime transport emissions, environmental taxesAbstract
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.
Downloads
References
Babiker, M. H. y Rutherford T. F. (2005). The Economic Effects of Border Measures in Subglobal Climate Agreements. The Energy Journal, 26(4), 99-125.
Beaufils, T., Ward, H., Jakob, M. y Wenz, L. (2023). Assessing Different European Carbon Border Adjustment Mechanism Implementations and their Impact on Trade Partners.
Farid, M., Keen, M., Papaioannou, M., Parry, I., Pattillo, C. Ter-Martirosyan, A. y otros (2016). After Paris: Fiscal, Macroeconomic, and Financial Implications of Climate Change. Fondo Monetario Internacional.
Fischer, C. y Fox, A. K. (2012). Comparing Policies to Combat Emissions Leakage Border Tax Adjustments versus Rebates. Journal of Environmental Economics and Management, 64(2), 199-216.
Gómez, M.ª F. (2013). Cambio climático y ajustes fiscales en frontera: análisis jurídico y viabilidad institucional. Revista de Derecho Económico Internacional, 4(1).
Manders, T. y Veenendaal, P. (2008). Border Tax Adjustments and the EU-ETS: A Quantitative Assessment. CPB Netherlands Bureau for Economic Policy Analysis.
McKibbin, W. y Wilcoxen, P. (2009). The Economic and Environmental Effects of Border Tax Adjustment (Working Papers in International Economics n.º 1.09). Lowy Institute for International Policy.
Peterson, E. y Schleich, J. (2007). Economic and Environmental Effects of Border Tax Adjustments (Working Paper Sustainability and Innovation n.º S 1/2007). Fraunhofer Institute Systems and Innovation Research.
Pittel, K., Keen, M. y Mooij R. A. de (2012). Fiscal Policy to Mitigate Climate Change: A Guide for Policymakers. Fondo Monetario Internacional.
Rocchi, P., Serrano, M., Roca, J. y Arto, I. (2018). Border Carbon Adjustments Based on Avoided Emissions: Addressing the Challenge of Its Design. Ecological Economics, 145.
Sun, X., Mi, Z., Cheng, L., Coffman, D. y Liu, Y. (2023). The Carbon Border Adjustment Mechanism is Inefficient in Addressing Carbon Leakage and Results in Unfair Welfare Losses. Fundamental Research [en prensa].
United States Inter-Agency Working Group (2013). Technical Update of the Social Cost of Carbon for Regulatory Impact Analysis under Executive Order 12866.
Wooders, P., Cosbey A. y Stephenson, J. (2009). Border Carbon Adjustment and Free Allowances: Responding to Competitiveness and Leakage Concerns. Conferencia en la mesa redonda de la OCDE sobre desarrollo sostenible. Singapur, celebrada en julio.
