Table of Contents

Environmental Taxation in China and Asia-Pacific

Environmental Taxation in China and Asia-Pacific

Achieving Environmental Sustainability through Fiscal Policy

Critical Issues in Environmental Taxation series

Edited by Larry Kreiser, Julsuchada Sirisom, Hope Ashiabor and Janet E. Milne

Environmental Taxation in China and Asia-Pacific contains an integrated set of detailed chapters providing insights and analysis on how fiscal policy can be used to achieve environmental sustainability. Highly topical chapters include energy tax policy in China, environmental fiscal reform, carbon tax policy in northeast Asia and environmental taxation strategies in China, Asia and Australia, as well as many other relevant topics.

Chapter 6: Selling Climate Change Mitigation Measures: The Co-benefits of Environmental Fiscal Reform

Jacqueline Cottrell

Subjects: economics and finance, environmental economics, environment, environmental economics, environmental law, law - academic, environmental law


JOBNAME: Kreiser IX PAGE: 3 SESS: 31 OUTPUT: Wed Aug 24 14:42:29 2011 6. Selling climate change mitigation measures: the co-benefits of environmental fiscal reform Jacqueline Cottrell 1. INTRODUCTION 1.1. Setting the Scene: Trends in Greenhouse Gas (GHG) Emissions The Intergovernmental Panel on Climate Change (IPCC) has predicted that significant emissions reductions are required to ensure that the average increase in global temperatures does not exceed 2°C. Under most equity interpretations, countries listed in Annex 1 of the United Nations Framework Convention on Climate Change (UNFCCC), which was drawn up during the Earth Summit at Rio de Janeiro in 1992 and entered into force in 1994, will have to reduce their greenhouse gas (GHG) emissions by 40–95 per cent below 1990 levels by 2050 to stabilise concentrations at 450–550 ppm (IPCC 2007c:90). However, GHG emissions are on a rapidly upward trajectory in many countries not listed in Annex 1. Rapidly industrialising economies are accounting for an ever-increasing share of total GHG emissions (from 46 per cent in 1990 to 57 per cent in 2005 (IEA 2007)) and will account for more than 90 per cent of increased primary energy demand between 2008 and 2030 (IEA et al. 2010). Both the IPCC and the consultancy firm McKinsey & Company (henceforth: McKinsey) agree that it is in these rapidly industrialising countries that the greatest potential for mitigating GHG emissions is to be found. Research by McKinsey suggests that all regions and all sectors will have...

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