Carbon tax basics
This term refers to a fee imposed on the burning of carbon-based fuels like coal,oil,and gas.
What is a carbon tax?
This country implemented the first national carbon tax in 1990.
What is finalnd?
A carbon tax makes these types of energy sources more expensive,
Fossil Fuels
This sector often bears the highest cost of carbon taxes due to its energy use
industrial/manufacturing sector
Unlike a carbon tax , this system gets a cap on emissions and lets companies trade allowance.
cap and trade
The main environmental goal of a carbon tax is to reduce this.
What are greenhouse gas emissions?
This province in Canada was one of the first to implement a broad-based carbon tax in North America
What is Emissions Trading System?
This clean energy source becomes more competitive when fossil fuels are taxed.
renewable energy
Carbon tax revenues can support these programs to offset higher enegry costs for low income families.
Social assistance or energy subsidy programs
A key benefit of carbon taxes over cap and trade is this
price certainty or simplicity
This economic principle supports carbon pricing by internalizing the costs of pollution.
What is polluter pays principle?
The European Union has a carbon pricing mechanism knowing by this ancronym.
Emissions Trading System
Cabon taxes aim to correct this kind of market failure.
Negative externality
Small businesses may face higher prices for this utility because of carbon.
electricity
Both carbon taxes cap and trade aim to reduce this environtmental problem
ckimate change or global warming
This type of tax targets activities that are harmful to the environment.
What is Pigovian tax?
This island nation in Asiaimpemented a carbon tax in 2019, affecting large emitters.
Singapore
Economists debate wether carbon taxes are this type of policy, meaning they're less expensive to implement.
Cost-effective
environmental groups are usually in favor of carbon taxes for this reason
to reduce climate change or emissions
This U.S. state has a cap and trade system but not a carbon tax
California
This is the term for the cost of damage caused by one additional ton of carbon dioxide emissions.
What is the social cost of carbon?
In 2023, this latin amaerican country became the first to implement a carbon market
Colombia
Some carbon tax revenues are returned to citizens in this form.
Carbon dividends or rebates
This major oil producing country has struggled implementing a national carbon tax
United states
critics argue cap and trade can lead to this economic issue if too many permits are given away.
Market Manipulation