THE IMPLEMENTATION of carbon pricing in the Philippines could raise around $7 billion in revenues by 2030, the International Monetary Fund (IMF) said.
MOTORISTS drive along the Antipolo Sumulong highway amid thick haze in this June 29, 2021 file photo. — PHILIPPINE STAR / MICHAEL VARCAScarbon pricing in the Philippines could raise around $7 billion in revenues by 2030, the International Monetary Fund said.
Ideally, carbon pricing would be the centerpiece of the Philippines’ mitigation strategy, as it promotes reduced energy use and a shift towards cleaner energy sources, the IMF said. “A $50 carbon price could potentially raise revenues of 1.05% of GDP in 2030 . About 44% and 37% of the revenue would come from new charges on road fuels and coal respectively,” it added.
Between 2023 and 2030, the IMF said this policy could potentially save 10,400 fatalities from exposure to local air pollution. About half of the averted death rate are Filipinos over 65 years old. A carbon tax is a type of carbon pricing for businesses that emit carbon dioxide, with the proceeds helping support greenhouse gas mitigation projects while forcing companies to address their own emissions to minimize their tax exposure.
However, 87% of the domestic environmental co-benefits reflect lower local air pollution deaths and a 13% reduction in traffic congestion and accident externalities.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
South Korea says it is in talks over joint planning, implementation of US nuclear asset opsSouth Korea and the United States are discussing joint planning and implementation of operations involving US nuclear assets to counter North Korea&39;s threats, Seoul&39;s presidential office said on Tuesday.
Baca lebih lajut »
A third of world economies face recession—IMFOne-third of the world’s economies are expected to go into recession this year, according to the International Monetary Fund’s managing director. READ:
Baca lebih lajut »
Philippines' main airport scrambles to restore normalcy after power cutThe NAIA has previously been ranked among the world's worst international gateways, with flight delays a regular occurrence, and a history of upgrades being delayed or abandoned due to disputes.
Baca lebih lajut »
Philippines logs 369 new COVID-19 cases; active tally down to 12,660 The Department of Health (DOH) on Monday reported 369 new COVID-19 cases in the country, a day after the celebration of the new year. This is the lowest single-day tally in five days and the 11th straight day of fewer than 1,000 new cases after the 1,031 fresh infections registered on December 22.
Baca lebih lajut »
What we know so far: Philippines' air traffic system fiascoHere are some questions and answers surrounding the New Year's Day travel fiasco that stemmed from 'technical issues' in the country's air traffic management system.
Baca lebih lajut »