Breaking News, Kenya News. Today's latest from

Kenyan news

Detailed: What is a carbon tax

[wpforms id="11185"]

President William Ruto, speaking to several heads of African countries and delegates, announced that Kenya is considering the implementation of a carbon tax.

He made the proposal during the opening of the presidential session of the Climate Summit in Africa held at the KICC hall, Nairobi.

“To unlock the resources we need to generate these new investments and financial opportunities, especially for green energy, we believe it’s time to start a conversation about a carbon tax. I repeat, a carbon tax,” he said.

What is a carbon tax?

A carbon tax is a policy option aimed at reducing carbon emissions from the burning of fossil fuels, such as oil, coal and natural gas. These are believed to be responsible for climate change.

The implementation of a carbon tax gives carbon producers the option of paying a higher price for their emissions or striving to reduce their emissions altogether, providing incentives for consumers to invest in energy efficiency, switch to cleaner forms of energy and change their behaviour. a way of life.

A carbon tax works by paying for the external cost of production, that is, damage caused to crops and various changes in rainfall patterns and health care costs resulting from droughts and heat waves.

According to the United Nations report on carbon taxes for developing countries, in order to establish a workable carbon tax, policymakers should consider not only how to achieve the best technical design, but also how to ensure public acceptance.

“Governments interested in implementing a carbon tax should consider strategies to achieve rapid and sustained adoption,” the guidance says.

Additionally, UN Secretary General Antonio Guterres has publicly called on leaders to shift the tax burden from income to carbon, and from taxpayers to polluters.

“Some of the steps countries can take include putting a price on carbon, ending fuel subsidies and accelerating renewable energy and green infrastructure projects,” he declares.

Rated 0.0 out of 5
0.0 out of 5 stars (based on 0 reviews)
Very good0%