| Title | Are Green Taxes Efficient? An Exploratory Study of the EU Reality |
|---|---|
| ID_Doc | 64223 |
| Authors | Sousa, S; Henriques, C; Viseu, C |
| Title | Are Green Taxes Efficient? An Exploratory Study of the EU Reality |
| Year | 2024 |
| Published | |
| Abstract | In the last century, the considerable increase in global population, industrialization, and fossil fuels consumption, has raised serious issues of environmental sustainability. One of the most adverse environmental impacts is the high level of greenhouse gas (GHG) emissions, the main responsible for the current global warming. In line with its commitments under the Paris Agreement, in 2019 the European Union (EU) adopted an ambitious strategy for reaching climate neutrality by 2050: the European Green Deal. Its main goal is to achieve a competitive resource-efficient economy with no net GHG emissions. In this context, it is imperative for policy makers to adopt public policies to reduce the carbon footprint, namely an effective environmental taxation policy-a key tool for governments to achieve economic growth along with environmental sustainability. This research study proposes to analyse the relationship between environmental taxes, also known as green taxes, and the environmental performance of EU countries, measured by CO2 emissions. By employing a panel data model, the study concludes that countries with higher green tax revenues also exhibit better environmental performance, characterized by lower emissions. Furthermore, the results suggest that environmental taxes only have a negative impact on CO2 emissions once they surpass a certain threshold value. |
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