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Ian Parry: A Carbon Tax for a Taxing Problem

Ian Parry: A Carbon Tax for a Taxing Problem

January 20, 2020

Carbon-pricing strategies key to meeting Paris Agreement objectives. (Istock/AlexyPnferov)

Without major efforts to reduce the accumulation of carbon emissions in the atmosphere, future generations will inherit a much warmer planet with risks of dangerous climate events, higher sea levels, and destruction of the natural world. In this podcast, economist Ian Parry makes the case for carbon taxation as the most effective way to nudge people towards cleaner fuels and to encourage them to adopt more efficient appliances or lower emission vehicles. But while convincing people to buy electric cars and more efficient appliances is important, the largest CO2 emitting countries need to work together to make a real dent in global greenhouse gas emissions. That, Parry says, is proving to be difficult. Parry's latest article Putting a Price on Pollution is published in the December 2019 edition of Finance and Development Magazine.

Ian Parry is principal environmental fiscal policy expert in the IMF’s Fiscal Affairs Department.