fossil fuel emissions tax News

  • Fossil Fuels` Free Ride Is Over

    A diverse group of investment bankers, energy executives, government officials and clean energy advocates has agreed that the environmental cost of producing energy should be factored into its price, and that Congress must develop energy policies that move away from fossil fuels. At the American Council On Renewable Energy's fourth annual conference, held in Washington last week, money managers ...

  • Biggest economies still backing fossil fuels

    The governments of the world’s major industrialized countries, the G20 group, are providing more than US$450 billion a year to support the production of fossil fuels. That is almost four times the entire world’s subsidies to the rapidly growing renewable energy sector, as the International Energy Agency (IEA) estimates total global renewables subsidies in 2013 at ...


    By Climate News Network

  • Fossil fuel divestment is a $5 trillion challenge

    Oil, gas and coal companies make up one of the world’s largest liquid asset classes, with a combined stock market valuation of nearly $5trn. In the past two years, dozens of public and private institutions have announced plans to divest their fossil fuel holdings because of environmental concerns, ethical investment strategies, or worries that assets might become “stranded” by ...


    By Bloomberg New Energy Finance

  • Denmark to become fossil fuel-free by 2050

    According to the Danish climate commission, Denmark could become fossil fuel-free by 2050, at a net cost of just US$2.95 billion. The report that sets the fossil fuel free goal makes the case for investing an amount equivalent to 0.5% of the country's annual GDP in renewable energy. The climate commission claims that prices of fossil fuels will rise over the next four decades, while renewables ...


    By GLOBE Foundation

  • Swiss companies to cap emissions or pay CO2 tax

    Swiss companies will have to pay a carbon tax on heating fuels from next year unless they agree a binding cap on their emissions, Switzerland's environment ministry said last week. The government says the measure will help ...

  • Cutting fossil fuel subsidies can cut greenhouse gas emissions says UN report

    Scrapping fossil fuel subsidies could play an important role in cutting greenhouse gases while giving a small but not insignificant boost to the global economy a new report by the UN Environment Programme (UNEP) says. The report challenges the widely held view that such subsidies assist the poor arguing that many of these price support systems benefit the wealthier sections of society rather than ...

  • Oil price drop as tool to fight fossil carbon emissions

    WBA and AEBIOM (European Biomass Association) are calling upon the governments to seize the opportunity presented by the oil price drop to act against fossil emissions. There has rarely been such an opportunity for the global community to take action against fossil carbon emissions and global warming as there is now, in January of 2015. Every government should act on their own, not waiting for a ...

  • Fossil Fuel Subsidies Hamper Pathway to Inclusive Green Economy, Experts Say

    Fossil fuel subsidies are contributing to fiscal instability and undermining governments' efforts to combat serious economic and environmental challenges, such as climate change, and the transition to an inclusive green economy, according to experts. "Reforming Fossil Fuel Subsidies for an Inclusive Green Economy" is the theme of the two-day event co-organized by UNEP, IMF, GIZ and the ...

  • OECD and IEA recommend reforming fossil-fuel subsidies to improve the economy and the environment

    Governments and taxpayers spent about half a trillion dollars last year supporting the production and consumption of fossil fuels. Removing inefficient subsidies would raise national revenues and reduce greenhouse-gas emissions, according to OECD and IEA analyses. The G-20 Leaders in 2009 agreed to phase out subsidies that "encourage wasteful consumption, reduce our energy security, impede ...


    By International Energy Agency

  • Obama calls out fossil fuel interests for fighting solar

    President Barack Obama on Monday accused fossil fuel interests and other critics of his energy policies of trying to restrict consumers from accessing solar, wind and other renewable sources in order to protect the status quo. "That's not the American way," Obama said in a speech at a green energy conference in Las Vegas. "This is about the ...


    By Associated Press

  • End fossil fuel subsidies now, says OECD and IEA

    Governments and taxpayers spent about half a trillion dollars last year supporting the production and consumption of fossil fuels. Removing inefficient subsidies would raise national revenues and reduce greenhouse-gas emissions, according to OECD and IEA analyses. The G-20 Leaders in 2009 agreed to phase out subsidies that "encourage wasteful consumption, reduce our energy security, impede ...


    By GLOBE Foundation

  • Closing the $70 Billion Climate Finance Gap – End Fossil Fuel Subsidies

    The world’s developed countries have committed to mobilize $100 billion a year by 2020, from public and private sources, to help developing countries adapt to the impacts of climate change and reduce their emissions. The latest accounting of climate finance shows there is a gap of about $70 billion. Closing that gap is critical to building the trust necessary to ...


    By GLOBE Foundation

  • Forget the carbon tax. Do we need a cow tax?

    Forget idling cars and fossil fuels.  Accordingly to Dina Cappiello in an associated press article on June 21, 2009, what comes out of the front end of America’s 170 million cattle, sheep, and pigs produces about a quarter of the methane released each year in the United States, making it the largest source of greenhouse gas in the country. But the very effective farm lobby in the U.S. has ...


    By GLOBE Foundation

  • Green taxes can boost the economy

    Green taxes could boost economic growth and reduce the ‘cash-in-hand’ untaxed shadow economy, according to new research. The study modelled green taxes’ effects on Spain’s economy and suggests the revenue from these taxes would increase economic activity and employment if it was used to reduce income tax. Environmental taxes, such as carbon taxes on fossil fuels or waste ...

  • OPINION: to ban or to tax: that is the only question

    Here"s a thought question: If you were a policymaker, which would you choose? A ban on plastic bags that will anger a significant percentage of voters while reducing plastic bag use almost entirely (over several years), but possibly increase overall ire at government"s meddling to "save the environment." Or, a tax on plastic bags, which will reduce plastic bag usage 85-95 percent but ...


    By Worldwatch Institute

  • Removal of fossil fuel subsides could achieve 50% of global CO2 reduction targets

    According to the International Energy Agency (IEA), a complete phase-out of fossil fuel would reduce carbon-dioxide emissions by 5.8%, or 2 Gigatonne (Gt), by 2020, equivalent to the current combined emissions of Germany, France, the United Kingdom and Italy. This amounts to over 40% of the abatement needed to be on track by 2020 to limit global warming to a 2°C rise. IEA research ...


    By GLOBE Foundation

  • Mexico puts carbon tax proposal to Parliament

    Mexico’s Parliament on Wednesday began discussions on a fiscal reform proposed by President Enrique Pena Nieto that would impose a tax on carbon emissions from fossil fuel use. The proposed policy would put a levy of 70.68 pesos ($5.41) per tonne of carbon dioxide from petrol, natural gas, propane, butane, aviation fuel, diesel, heating oil, coke and coal, the level of the tax calculated ...

  • NREL analysis finds tax credit extensions can impact renewable energy deployment and electric sector CO2 emissions

    The Energy Department's National Renewable Energy Laboratory (NREL) today released new analysis exploring the potential impact of recently extended federal tax credits on the deployment of renewable generation technologies and related U.S. electric sector carbon dioxide (CO2) emissions. The report, ...

  • Swiss minister proposes post-2012 carbon tax

    Swiss environment minister Moritz Leuenberger has proposed an extension of national carbon taxes to achieve an annual 1.5 per cent reduction in greenhouse gas emissions from 2012. Switerland could also consider becoming climate neutral by paying to offset remaining emissions, he said. In a statement last week Mr Leuenberger said he would push for a tax of SFr210 (€129) - the maximum allowed ...

  • Sun is setting on critical renewable energy tax credits

    A thriving renewable energy industry is a critical solution to problems such as high energy prices and climate change. But unless Congress extends the renewable tax credits soon, the industry’s steady growth could stall. For the past year, lawmakers have vigorously debated three inter-connected issues: energy costs, the economy, and climate change. Green power is part of the solution for all ...

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