IMF report: 'Start taxing, stop subsidizing carbon'

2 Apr 2013

From: Brad Plumer, The Washington Post, March 27

What’s the simplest way to tackle global warming? Make sure that fossil fuels are priced properly and not subsidized.

That’s the core idea behind a large new report (pdf) from the International Monetary Fund, which argues that the world “misprices” fossil fuels to the tune of some $1.9 trillion per year.

Eliminating these subsidies, the IMF argues, and replacing them with appropriate carbon taxes could cut global greenhouse-gas emissions by 13 percent, curtail air pollution, and shore up the finances of many poorer countries now in debt trouble.

read more