Bangladesh Muslim Cyber Soldiers 71
News from Web 17-Apr-2024
Top 15 Countries by Carbon Tax Revenue
Carbon taxes are designed to discourage CO2 emissions by increasing the cost of carbon-intensive activities and incentivizing the adoption of cleaner energy alternatives.
In this graphic we list the top 15 countries by carbon tax revenue as of 2022. The data is from the World Bank’s State and Trends of Carbon Pricing Report, published in April 2023.
France and Canada Lead in Global Carbon Tax Revenue
In 2022, the top 15 countries generated approximately $30 billion in revenue from carbon taxes.
France and Canada lead in this regard, accounting for over half of the total amount. Both countries have implemented comprehensive carbon pricing systems that cover a wide range of sectors, including transportation and industry, and they have set relatively high carbon tax rates.
| Country | Government revenue in 2022 ($ billions) |
| France | $8.90 |
| Canada | $7.80 |
| Sweden | $2.30 |
| Norway | $2.10 |
| Japan | $1.80 |
| Finland | $1.70 |
| Switzerland | $1.60 |
| United Kingdom | $0.90 |
| Ireland | $0.70 |
| Denmark | $0.50 |
| Portugal | $0.50 |
| Argentina | $0.30 |
| Mexico | $0.20 |
| Singapore | $0.10 |
| South Africa | $0.10 |
In Canada, the total carbon tax revenue includes both national and provincial taxes.
While carbon pricing has been recognized internationally as one of the more efficient mechanisms for reducing CO2 emissions, research is divided over what the global average carbon price should be to achieve the goals of the Paris Climate Agreement, which aims to limit global warming to 1.5–2°C by 2100 relative to pre-industrial levels.
A recent study has shown that carbon pricing must be supported by other policy measures and innovations. According to a report from Queen’s University, there is no feasible carbon pricing scenario that is high enough to limit emissions sufficiently to achieve anything below 2.4°C warming on its own.
More News
Bangladesh Flood by India
With the European Climate Law, the EU made climate neutrality by 2050 a legally ...
03-Apr-2024
Bangladesh Flood By India
According to a call for evidence issued by the SBTi in September, environmental ...
20-Sep-2024
The West's Monopoly On ESG Ratings And Why India Needs A Swadeshi Lens
India’s reliance on coal is inevitable if the country wants to keep growing at...
02-Apr-2024