Green Budget Europe - Newsletter - Special December Edition
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As we approach the end of the year, we at Green Budget Europe (GBE) are launching a special edition of our Newsletter to highlight the key messages from COP21 and some recent developments in green tax policy in the EU.

And of course, we would also like to wish you all happy holidays and best wishes for the new year!

Cop21: next step is pricing

On December 12, world leaders agreed to pursue efforts to limit the global temperature increase to 1.5°C, as opposed to the previous 2°C target. Commendable as it is, GBE maintains that the new target will not be achieved without further developments involving carbon pricing. Below are the main takeaways from Paris.
  • How to put a socially responsible price on carbon. See GBE’s presentation at COP21.
  • Air travel could contribute to climate finance. See GBE’s PR – reported in the Irish Times.
  • The agreement opens the door for the establishment of a market based mechanism. See New Climate Institute’s blog post.
  • World leaders and CEOs support carbon pricing to transform global economy. See Carbon Pricing Leadership’s PR and conference.
  • Carbon pricing and fossil fuel subsidy removal are effective policies to reduce emissions. GBE expert Thomas Sterner.
  • Carbon rates are often too low to have any steering effect on energy use. GBE expert Helen Mountford.
  • Fiscal policies can help countries in the transition to a low-carbon economy. GBE expert Ian Parry.
  • Regional actors are key players for climate change mitigation. GBE expert Edoardo Croci.

Green Tax Reform: towards Europe 2020

According to the most recent Eurostat data, environmental taxes amounted to €330.1 bn in 2013, compared with €272.1 bn in 2003. However, their share in total revenues decreased from 6.9% to 6.3%.
As GBE noted, some good news came from Belgium and France with regards to increasing diesel taxation in 2015. But a lot more needs to be done in order to reach the 10% share target envisaged in the Europe 2020 strategy.

Spanish Elections

On December 20, the Spanish people will decide on the next political leadership of Spain.
Three political parties have embraced GBE’s recommendations to implement Environmental Fiscal Reform. Find out who they are and read their manifestos here.
Learn more on the potential of green taxes in Spain.  

The European Semester

GBE continues its work on the European Semester, with the aim to encourage a higher rate of implementation of Environmental Fiscal Reform-related Country-Specific Recommendations.
  • As a member of the EU Semester Alliance, on Nov 27, GBE hosted a stakeholder dialogue meeting with key representatives from the European Commission and the Council of Ministers engaged in the Semester process.
  • GBE is due to publish its yearly Country-Specific Recommendations in January.

Support us
We would greatly appreciate your support, which allows us to continue our work promoting a greener economy.
James Nix, Director

What we're reading

Effective Carbon Rates on Energy”, OECD (Dec 2015)

Overview of reported national policies and measures on climate change mitigation in Europe in 2015”, EEA (Dec 2015)
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