Carbon Taxation as a Green Fiscal Policy
Carbon Taxation as a Green Fiscal Policy Burning fossil fuels, notably, stands out as the primary contributor to greenhouse gas emissions, including CO 2 , SO, CO, CH 4 , and others. These gases, by trapping heat for extended periods, are the primary underlying cause of global warming, rising sea levels, glacier melting, and various extreme weather events. The World Meteorological Organization reports that without measures to mitigate greenhouse gases, global temperatures have already risen by 1°C. Consequently, carbon taxation was introduced as a solution to curb carbon emissions and mitigate the effects of other greenhouse gases. Carbon taxation plays a crucial role in fostering a sustainable environment on Earth's surface. As one of the green fiscal policies, it helps drive the world towards reduced greenhouse gas emissions and encourages the use of renewable energy sources. Carbon taxes are levied on fuel suppliers and producers, with rates depending on the carbon content o...