The World Bank Recommended Russia to Introduce a Carbon Tax This is stated in the report of the organization, which is at the disposal of “Lenta.ru”.
Such a measure is necessary to achieve carbon neutrality and should primarily affect the fuel and energy complex (FEC), transport and industrial production. At the same time, it is rather difficult to regulate fugitive and technological carbon emissions in these sectors with the help of a tax, so the new tax is just one of the instruments of green policy that should stimulate a green transition in the economy.
The World Bank also recommends using the trading system Emissions quotas: Enterprises are allocated emission quotas, and companies that lack them buy quotas from enterprises that emit fewer emissions. Such a system, if properly organized, can be more effective in reducing emissions than carbon taxes.
Another way to regulate emissions is to levy higher fuel excise taxes, which are now lower in Russia than in other countries. To speed up the energy transition, it is possible not only to increase excise taxes, but also to decouple them from the physical volumes of fuel and tie them to the impact on the environment (the amount of greenhouse gases and pollutants emissions from the combustion of any type of fuel).
The World Bank report stressed that energy transition measures are a prerequisite for the further development of the Russian economy. Delaying decision making can lead to high costs. In addition, green technologies can open up new opportunities for the Russian economy.