Extending Carbon Taxes to All Emissions Would Boost Revenue: OECD

Countries are far from doing enough to tax carbon emissions, especially outside of road transport, the OECD said.

• “Extending tax-based carbon price signals to all emissions would generate substantial revenues,” the Organization for Economic Cooperation and Development said in an Oct. 15 report. Emissions from non-road sectors like air transport are under-taxed, for example.
• The OECD said taxing all energy-related CO2 emissions at 30 euros per ton of CO2 would create additional tax revenue “corresponding to approximately 1% of GDP” for the44 countries it covered in the report.
• The additional carbon tax would also “roughly double current ...