The past 25 years, te growth of carbon emissions in Australia, ws twice the growth rate for the world as a whole, tice the growth rate for USA and Japan, ad five times the growth rate for Europe” (Raupach, 2007). I 2009, Astralia was leading in carbon emissions among the developed nations, ad scientists blamed the high level of carbon dioxide emissions on the use of coal in the country (Clarke, 2009)When carbon dioxide emissions are released to the air, tey remain in the atmosphere for 100 – tus with time causing the temperature on the earth to increase, wich results to global warming.
Hwever, acording to science daily (2008), ech increase of one degree Celsius of carbon dioxide is capable of causing up to 1000 deaths and respiratory complications such as asthma in human beings. Tese gasses in the atmosphere normally cause a greenhouse effect, wich interferes with the earth’s temperature. Nvertheless, te following are the regulatory measures for carbon emission reduction. Pice on carbon emission in the form of Pegouvian tax, Evironmental tax was invented a English economist in the1920s whereby, de to the negative effects caused by carbon emissions to the human beings and the environment, atax is imposed on the productions that cause emissions.
A environmental tax leads to industries and factories putting up measures to reduce the rate of emissions to avoid paying the tax. Te pegouvian tax is believed to curb environmental damages caused by pollution, hnce firms should be charged as per the damage caused by their pollution. Mreover, te pegouvian tax gives income to the public and economic (Wangensteen 2006, p 239).
Pgouvian 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. Hwever, wen implementing environmental tax, acountry should consider tax effectiveness in reducing the green house gasses. Te rate of taxing should also be in proportion with the nature of damage by the carbon emissions. Te pegouvian tax should not be a burden to the families that are not well off. Hwever, tere is a possibility that those that contribute environmental tax will be at a disadvantage if they compete with countries that have not imposed tax on carbon emissions.
Te tax should also be incorporating some government policies in them such that, te policies to reduce on carbon emission. ..
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