TaxAdministrationSupport grows for carbon tax on aviation and shipping

Support grows for carbon tax on aviation and shipping

The Copenhagen Climate Change Summit sees increased support for a carbon tax or carbon trading scheme for the aviation and shipping industries

Support for a global carbon tax or carbon trading scheme for the aviation and
shipping industry is gaining widespread support at Copenhagen.

If an agreement is reached the money generated could be used towards a £100bn
“climate aid” fund, to help developing nations deal with the effects of global
warming reported
The
Times
. It is estimated either a tax or carbon trading scheme could raise a
quarter of the climate aid fund.

The aviation industry is due to be included in the European Emissions Trading
Scheme (ETS) in 2012 with the shipping industry so far excluded.

The
Times
reported the UK government would prefer a carbon trading scheme to a
tax, with the Tories keen to penalise polluters rather than dip into the public
purse.

Global leaders at Copenhagen will have to agree an international reduction in
emissions and the level of financial aid for developing nations, before
announcing how to raise the finance.

Further reading:

Institute
chief to chair Copenhagen debate

Accountants
should own climate initiatives, claims CIMA

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