These gasses in the atmosphere normally cause a greenhouse effect, which interferes with the earth’s temperature. Nevertheless, the following are the regulatory measures for carbon emission reduction. Price on carbon emission in the form of Pegouvian tax,Environmental tax was invented by Pigou, an English economist in the1920s whereby, due to the negative effects caused by carbon emissions to the human beings and the environment, a tax is imposed on the productions that cause emissions. An environmental tax leads to industries and factories putting up measures to reduce the rate of emissions to avoid paying the tax. The pegouvian tax is believed to curb environmental damages caused by pollution, hence firms should be charged as per the damage caused by their pollution. Moreover, the pegouvian tax gives income to the public and causes economic inefficiency (Wangensteen 2006, pp 239).Pigouvian tax is aimed at dealing with the emitters of carbon dioxide and green house gasses so that they can face the costs of their actions. However, when implementing environmental tax, a country should consider tax effectiveness in reducing the green house gasses. The rate of taxing should also be in proportion with the nature of damage by the carbon emissions. The pegouvian tax should not be a burden to the families that are not well off. However, there is a possibility that those countries that contribute towards environmental tax will be at a disadvantage if they compete with countries that have not imposed tax on carbon emissions. The tax should also be incorporating some government policies in them such that, the policies to reduce on carbon emission. Carbon dioxide emissions.
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