A carbon tax is a financial charge on carbon emissions. It aims to reduce greenhouse gas emissions. By increasing costs for polluters, it encourages cleaner energy sources. This tax can influence economic behaviour. Many countries implement it to combat climate change. The revenue generated can fund renewable energy projects. It reflects a growing awareness of environmental issues in policy-making.
The European Union has begun implementing the world’s first carbon border tax under the Carbon Border Adjustment Mechanism (CBAM), a move that has sharply divided global opinion. While...
