Tax aspects of the decarbonization policy of the economy using the example of the usa and canada

Налоговые аспекты политики декарбонизации экономики на примере сша и канады

Korytin, Andrei (Корытин, Андрей) and Melkova, Elena (Мелкова, Елена)
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Korytin, Andrei (Корытин, Андрей): The Russian Presidential Academy of National Economy and Public Administration
Melkova, Elena (Мелкова, Елена): The Russian Presidential Academy of National Economy and Public Administration

Working Papers from Russian Presidential Academy of National Economy and Public Administration

Abstract: In order to formulate Russian tax policy measures that respond to the EU’s Carbon border adjustment mechanism (CBAM), it is relevant to study tax mechanisms for decarbonizing the economy in the USA and Canada. The potential value of the experience of the USA and Canada is associated with the structure of their economies and the presence of climate and resource features that distinguish these countries from Europe. These will allow to take into account the impact of tax incentives for decarbonization on the development of key industries in Russia. While Canada has both an emissions trading system and a carbon tax, in the USA the main tax mechanisms operate at the state level. The Regional Greenhouse Gas Initiative, a joint project of eleven eastern states, is a scope of greatest interest. In addition, we have considered a number of tax credit programs in Canada that encourage an alternative energy sources usage and clean technology investment. As well as preferences for the energy efficiency and energy saving in the USA. Based on the results of this research, we have given some recommendations for the application of this experience in Russia.

Keywords: cross border carbon regulation; decarbonization; emission trading; carbon tax (search for similar items in EconPapers)
Pages: 34 pages
Date: 2023
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