Governments Must Tax Dirty Energy - OECD
Taxes are effective at cutting harmful greenhouse emissions from energy use, but taxation applied by major economies to CO2 emissions is not enough to fight climate change, say experts with the Organisation for Economic Co-operation and Development (OECD) in the report Taxing Energy Use 2018published today.
The report describes the evolution of this tax on fossil fuels (coal, oil, gas) in 42 OECD and G20 countries - collectively responsible for about 80% of global energy consumption and CO2 emission - during the period 2012-2015.
In the non-road sectors, which account for 95% of carbon emissions from energy use, 81% of emissions are untaxed, and rates are below a low-end estimate of climate costs of EUR 30 per tCO2 for 97% of emissions, says the OECD.
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