The Way Forward For Carbon Pricing – Today Monday 26 April 17:00
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The European Union and other countries are moving forward with higher carbon pricing to fight climate change, but many design issues and operational challenges remain to be overcome to arrive at a carbon price both effectively high and politically feasible. Challenges span a spectrum from the domestic—how to design a tax (or pricing mechanism) which is adequately broad and politically acceptable—to the international—how to avoid some reluctant-to-tax countries free-riding on the efforts of other regions. On the domestic side, the equity of the tax and the use of its revenue are seen as vital determinants of its feasibility. On the international side, the IMF has proposed a carbon-price floor, and the EU is working on a carbon border tax adjustment. This seminar will take stock of the latest thinking on carbon-pricing design, and discuss how to overcome the outstanding obstacles to operationalizing adequate carbon taxation.
SPEAKERS: Ian Parry (IMF Senior Climate Specialist), Michael Mehling (Professor of Practice Strathclyde, MIT),
Franziska Funke (Discussant, Martin School, Oxford), Chair: Daniel Hardy (EuPEP, Oxford)