Towards A Green Economy Harmonization Of International Carbon Taxes As A Fiscal Instrument
DOI: 10.35760/ugefic.v8i1.205Abstract
Climate change has an environmental, economic, and social impact, driving the need for a transition to a green economy. The carbon tax is becoming the main fiscal instrument to internalize emission costs and encourage clean energy. The implementation of carbon taxes differs between countries, which has the potential to pose the risk of carbon leakage and trade distortions. This study uses the Systematic Literature Review (SLR) approach to analyze the literature related to carbon taxes and the green economy. Results show carbon taxes are effective in lowering emissions and increasing fiscal revenues, while international harmonization can prevent carbon leakage, maintain trade stability, and support a green economic transition through a global framework involving international organizations.
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