Global Carbon Tax Status

Global Carbon Tax Status

Europe 

EU: presents the European Green New Deal in December 2019, covering the areas of energy, economy, construction, transportation, agriculture, ecology and environment. Mobilizing law, finance, tax, policy and markets to achieve a fundamental and comprehensive policy shift. At the same time, keep promoting the European Union Emissions Trading System (EU ETS), the European Climate Act, the European Union Carbon Border Adjustment Mechanism (EUCBAM), and the 55-Package Plan. The goal is to reduce greenhouse gas emissions by 55% by 2030 compared with 1990, and to achieve net zero by 2050. 

Germany: Renewable Energy Act 2023, Climate Action Act, EU Emissions Trading System, National Hydrogen Strategy and Carbon Counterparty. Subsidies for companies leading the way to climate neutrality, as well as greenhouse gas reductions across all sectors of the state, and the creation of a green hydrogen market to implement corresponding innovations and investments. It is estimated that greenhouse gas emissions will be reduced by 65% by 2030 compared to 1990 levels and will reach net zero by 2050.  

Netherlands: Currently adopts the Coal Power Prohibition Act, the EU Emissions Trading System, the Climate Act and the National Climate Agreement. Climate-neutral targets are set for electricity, manufacturing, transportation, agriculture and the built environment. Plans to expand renewable energy (e.g., wind, solar, hydrogen, heat) to 84 TWh and ban coal-fired power plants. The goal is to reduce greenhouse gas emissions by 49% by 2030 compared to 1990 and to achieve EU climate neutrality by 2050. 

UK: Currently implementing the Industrial Decarbonization Strategy, the Energy White Paper, the North Sea Transition Agreement, the Net Zero Strategy, the EU Emissions Trading System and the Transport Decarbonization Strategy. The aim is to green its energy system by not pushing carbon emissions abroad and switching to low carbon fuels, improving the efficiency of the industrial sector and capturing and storing carbon. It is expected to reduce greenhouse gas emissions by 68% by 2030 compared to 1990 levels and achieve net zero by 2050.  

Belgium: The National Energy Climate Plan 2021-2030 sets out guidelines for the transition to a sustainable energy system, covering energy efficiency, renewable energy, flexibility, financing and governance. It also adopts the Belgian 2050 Climate Strategy, the European Union Emissions Trading System and carbon pricing. The goal is to reduce greenhouse gas emissions by 35% by 2030 compared to 2005 and to achieve carbon neutrality by 2050. 

Italy: The Climate Act, the National Recovery and Resilience Plan and the National Strategy for Sustainable Development have now been adopted. Building efficiency is improved through ecological and energy transformation, and sustainable transportation is sustained. Examples include the installation of grid cables for the distribution of renewable energy and the transportation of natural gas. It is expected to reduce greenhouse gas emissions by 33% by 2030 compared to 2005 and to achieve EU climate neutrality by 2050. 

Spain: The Climate Change and Energy Transition Act, the European Union Emissions Trading System and the National Energy and Climate Plan 2021-2030 show that at this stage, including transportation, construction and industry, the aim is to increase the share of low-carbon transportation by improving the efficiency of all sectors and reducing consumption. The goal is to reduce greenhouse gas emissions by 23% by 2030 compared to 1990 and to achieve climate neutrality by 2050. 

France: Currently adopting the France 2030 Investment Plan, the Climate and Recovery Approach, the French Recovery Plan, the National Low Carbon Strategy and the EU Emissions Trading System. The GHG reduction targets and related promotional measures cover the transportation, construction, industry, agriculture, energy and waste management sectors. It is estimated that greenhouse gas emissions will be reduced by 40% by 2030 compared to 1990, and climate neutrality will be achieved by 2050. 

Russia: Currently adopting the 2050 Socio-Economic Development Strategy, the 2030 Energy Strategy, the National Low Carbon Strategy, and the 2030 Plan related to the Development of Electric Mobility, the 2035 New Energy Policy, and the Regulation of Greenhouse Gas Emissions and Related Laws. It is expected to limit the level of greenhouse gas emissions to 70% of the 1990 level in 2030 and to accomplish net zero by 2050. 

Poland: The National Energy and Climate Plan will be presented in 2019 and is expected to address air quality issues, support renewable energy and increase its efficiency, and promote diversification of the energy mix within 10 years. It also adopted the Polish Energy Policy 2040 and the National Recovery Plan, which aims to increase socio-economic resilience while investing in green energy and encouraging smart transportation. The goal is to reduce greenhouse gas emissions in the non-ETS sector by 7% in 2030 compared to 2005, and to achieve carbon neutrality by 2050.  

Switzerland: Currently adopts the Global Methane Commitment, the 2050 Energy Strategy, the CO2 Act and the 2050 Long-Term Climate Strategy. It promotes the restructuring and installation of renewable energy systems, such as solar, wind, biomass, hydro, geothermal, etc., with the aim of improving energy efficiency, together with investment incentives. It is expected to reduce greenhouse gas emissions by 50% by 2030 and reach net zero by 2050. 

Sweden: The Climate Act 2017, the Energy Agreement 2016, the January 2019 Agreement and the EU Emissions Trading System are currently adopted. Carbon capture and storage technologies are being introduced domestically at this stage, along with a carbon tax, a fuel energy tax and an electricity energy tax. The goal is to reduce temperature emissions from the transportation sector by 70% by 2030 compared to 2010, and to achieve net zero by 2045 with an 85% reduction in temperature emissions compared to 1990. 

Hungary: The National Energy and Climate Plan, adopted in January 2020, is dedicated to the development of renewable energy sources such as solar, wind and hydroelectric power, with plans to increase installed capacity in the future. The National Hydrogen Strategy encourages people to choose hydrogen-powered buses and hydrogen fuel cell vehicles for transportation and provides subsidies and other financial support to bus operators. The goal is to reduce greenhouse gas emissions by 7% by 2030 and achieve climate neutrality by 2050. 

Austria: The Renewable Energy Expansion Act, an important law for energy transformation, will enter into force on January 1, 2022. At the same time, the Environmental Impact Assessment Amendment Act and the Austrian National Hydrogen Strategy have been adopted, which aims to produce green hydrogen from nationally produced green electricity to replace fossilized natural gas. It is expected that 100% of the country’s electricity will be generated from renewable sources by 2030 and net zero by 2040. 

Czech Republic: According to the EU 2018 Common Effort Regulation the government has set national emission reduction targets for road transport, building heating, agriculture, small industrial installations and waste management. This is complemented by the Economic Map Towards a Competitive Low-Carbon Route by 2050. With regard to energy management, companies are required to comply with the National Environmental Policy 2012-2020 by expanding the obligations of auditing or implementing regulations. It is expected to reduce greenhouse gas emissions by 14% by 2030 and complete EU climate neutrality by 2050. 

Denmark: The Climate Action Plan was adopted on 6/12/2019 and the Energy Island Plan will be published two years later, aiming to build the world’s first man-made energy island with a capacity of up to 10GW of wind power. In conjunction with the Sustainable Aviation Development Plan, we aim to have a 100% green commercial airline by 2025. It is expected to reduce greenhouse gas emissions by 70% by 2030 and achieve net zero by 2050. 

Finland: Currently managing energy through tax breaks and fuel reform through the Climate Action Plan, the Medium Term Climate Change Policy Plan, the National Energy and Climate Strategy 2030 and the Adaptation Plan. Carbon neutrality is expected to be achieved by 2030 and an 80% reduction in greenhouse gas emissions by 2050 compared to 1990. 

Slovakia: The Act on the Promotion of Environmentally Friendly Road Transport Vehicles will be implemented in August 2021, making it mandatory for central authorities and local governments to lease or procure a certain percentage of environmentally friendly vehicles. This is complemented by the National Hydrogen Strategy and the Slovak Low Carbon Development Strategy 2030 to 2050. Promote environmental laws and regulatory policies to promote renewable energy and biodegradable waste recycling and reduce greenhouse gas emissions by more than 40% by 2030 and achieve climate neutrality by 2050. 

Lithuania: Currently adopting the Lithuanian Climate Policy, the Law on the Advancement of Strategies against Global Warming, the National Energy Readiness Independent Strategy Update 2018 and the Law on Alternative Fuels. Targeting 45% of total consumption from renewable energy sources by 2030, while promoting more than 50% of annual fleet procurement to be electric vehicles, a 9% reduction of greenhouse gases compared to 2005 for the EU ETS uncovered area, and net zero by 2050. 

Asia 

Japan: The Renewable Energy Act, the Law for the Promotion of Global Warming Strategies, the Decarbonization Infrastructure Initiative, the Green Growth Strategy, the Tokyo Stock Exchange Carbon Market, and the Tokyo Carbon Trading Control Plan have been adopted. The goal is to reduce greenhouse gas emissions by 46% by 2030 compared to 2013, to increase renewable energy supply to 100% by 2035, to realize zero carbon electricity, and to achieve net zero by 2050. 

Singapore: The Singapore Carbon Tax will be implemented in 2019 and will apply to all facilities that emit 25,000 tons of CO2e or more of greenhouse gases per year. According to the Singapore Green Development Blueprint 2030, it is expected to reduce waste and water consumption, expand solar and energy storage installations and import clean energy. It is estimated that 80% of buildings will be green by 2030, more than half of the bus and cab fleet will be electrified, and peak temperature emissions (65 million tons/CO2e) will be achieved by 2050 with the completion of Netxero. 

Korea: The Basic Law for Carbon Neutral and Green Growth in Response to the Climate Crisis will be adopted in August 2021, including a plan to completely shut down coal-fired power stations and increase the use of renewable energy in the future, as well as the adoption of the National Emissions Trading System (K-ETS), which will continue to promote the construction of a carbon market. The goal is to reduce greenhouse gas emissions by 40% by 2030 compared to 2018, and by 2050, the share of green electricity will reach 70.8% and net zero. 

Vietnam: The 2022 Amendment to Vietnam’s Environmental Protection Law, the 2021-2030 National Electricity Development Plan and the 2021-2020 Sustainable Development Strategy have been adopted. It plans to promote the recycling of industrial solid waste and energy creation and gradually implement green growth through the development of clean and renewable energy. It is expected that greenhouse gas emissions will be reduced by 43.5% by 2030 compared to the current development trend and will reach net zero by 2050.  

Malaysia: The government has adopted the National Energy Transformation Roadmap, which focuses on high-efficiency energy conversion, renewable energy zones, energy storage, energy security, and green hydrogen, as well as the 12th Malaysia Plan and Green Technology Master Plan, with the goal of creating a low-carbon, energy-efficient and sustainable ecosystem. It is expected that the intensity of greenhouse gas emissions will be reduced by 45% by 2030 compared to 2005 and will reach net zero by 2050.  

Thailand: Launched the Thailand Voluntary Carbon Emissions Trading System in 2013, setting direct and indirect emission caps for high-carbon emission industries on a pilot basis, and at the same time adopting the AEDP Alternative Energy Development Plan, BCG Model, and Climate Change Master Plan, with the goal of reducing GHG emissions by 20-25% by 2030 compared to 2005, achieving carbon neutrality by 2050, and achieving net zero by 2065.  

China: In 2021, the “Action Plan for Carbon Peak by 2030” was released, and the “National Emissions Trading Mechanism” was launched in July of the same year, which will gradually include the seven major energy-consuming industries of petrochemicals, chemicals, building materials, iron and steel, non-ferrous metals, paper-making and civil aviation. It is estimated that the share of renewable energy will be increased to 50% by 2030, and green energy transportation will account for 40% of the total transportation volume, and the carbon intensity will be reduced by 65% compared to 2005, and carbon neutrality will be achieved by 2060. 

Indonesia: The Long-Term Strategy on Low Carbon and Climate Resilience 2050 and the Electricity Procurement Plan 2021-2030 have been adopted. The former relies on carbon capture, utilization and storage rather than simply phasing out the use of coal. Through the program, it is expected that renewable energy will account for 52% of new capacity within 10 years, with the goal of reducing GHG emissions by 31.89% by 2030 compared to current trends and achieving net zero by 2060. 

Turkey: Promoting the Climate Change Law in 2022 and renewing the country’s own contribution, the Turkey Climate Change Action Plan aims to reduce the intensity of energy use and increase the use of clean energy by focusing on the transportation, industry, energy, construction, and waste sectors. Compared to 2015, it is expected that the use of coal-fired electricity will be close to zero by 2030 and net zero by 2053. 

Israel: Establishment of a renewable energy target for 2050, with the goal of transitioning the country’s energy sources to solar power and opening up the need for large-scale energy storage. Transportation to stop using diesel and gasoline engines and switch to electric vehicles. The goal is to shut down coal-fired power plants and phase out the use of coal by 2025, with net-zero emissions by 2053. 

Philippines: The government has adopted the Climate Change Act, the Low Carbon Economy Act, the Philippine Energy Plan, the Power Industry Reform Act, the Philippine Sustainable Finance Framework 2022, and the Philippine Energy Plan 2030-2050, which projects an increase in the share of renewable energy to 35% by 2030, and a 75% reduction in greenhouse gas emissions. emissions by 2030. 

India: The National Climate Change Action Plan (NCCAP) was launched in 2008, focusing on solar energy, wind energy, green energy corridor projects, energy-efficient building codes, fuel consumption standards, etc.  Waste-to-energy technologies are being developed and attempts are being made to increase non-fossil energy production to 500 GW, with a target of reducing carbon intensity by 45% by 2030 compared to 2005 and achieving net zero by 2070. 

United Arab Emirates: launched Energy Strategy 2050 in 2017, which aims to increase the share of clean energy to 50% of total energy, while adopting the Hydrogen International Cooperation, the National Climate Change Plan 2017-2050, and the implementation of green building and sustainable building standards across the country, with minimum sustainability targets for new buildings. It is estimated that clean energy capacity, including solar and nuclear, will reach 14GW by 2030 and net zero by 2050. 

Saudi Arabia: The Saudi Green Initiative will be launched in 2021, supplemented by policies such as the National Renewable Energy Program, the Greenhouse Gas Carbon Rights and Carbon Offset Mechanism, and the Sudair Solar Power Plant Project. The plan is to set up a 1.500 MW solar power plant in the future, which will provide 70% of the country’s renewable energy by 2030. carbon emissions are expected to be reduced by 278 tons per year (mtpa) by 2030, and net zero by 2050. 

Sri Lanka: The National Energy Policy and Strategy was released on 9/8/2019 with the aim of ensuring energy security and efficiency, providing relevant access to the country’s economy at optimal cost, increasing the share of renewable energy to reduce the environmental impact of carbon emissions, and ensuring that sufficient infrastructure is available for energy use in the future. The goal is to reduce greenhouse gas emissions by 14.5% by 2030 and to achieve carbon neutrality by 2050. 

Jordan: The National Autonomous Contribution will be updated in 2021, targeting the improvement of water resources, energy, agriculture, transportation, etc., as a framework for long-term strategies. The National Climate Change Policy, the National Strategy and Action Plan for Sustainable Consumption and Production, and the National Vision and Strategy 2025 will also be used to support the projected 31% reduction in greenhouse gas emissions by 2030, if conditions are met. 

Bangladesh: The Mujib Climate Prosperity Plan (MCPP) was launched in 2021 to promote sustainable development and build resilience to climate change in Bangladesh. Examples include a green climate fund for farmers and financing for climate-smart agriculture, energy efficiency, forest protection and restoration, and water resource management in collaboration with other international partners. It plans to increase renewable energy generation to 20% by 2030. 

Cambodia: Currently, the National Autonomous Contribution, National Strategic Development Plan, Climate Change Strategic Plan, and Carbon Neutral Long Term Strategy are adopted, aiming at a 41.7% reduction of GHG emissions by 2030 compared to the current development trend, and achieving carbon neutrality by 2050. Incentives for renewable energy will be provided, and the planning and monitoring of waste treatment infrastructure will be strengthened. 

Pakistan: Submit an updated Nationally Owned Contribution (NOC) in 2021 with carbon reduction plans for the natural environment. Includes the Ten Billion Tree Tsunami Program, Protected Areas Initiative, and others. It is estimated that total emissions will be reduced by 50% by 2030. The current focus on developing renewable energy, including hydropower, is expected to account for 60% by 2030. In terms of energy saving, the coverage of electric vehicles will be vigorously promoted, accounting for 30% of all new vehicles. 

Africa 

South Africa: The government has adopted the National Climate Change Response Policy and the Low Carbon Emission Reduction Development Strategy, and from the National Development Plan 2030, it is estimated that carbon emissions will be reduced by 28% by 2030 compared to 2015, and the target renewable energy installed capacity will be increased to 31.2GW, and net-zero will be achieved by 2050. 

Egypt: The government has adopted a Sustainable Development Strategy that aims to reduce carbon emissions from industries covering oil and gas by 10% by 2030, and is currently committed to implementing renewable energy programs in the wind and solar sectors under the National Climate Change Strategy 2050, which is expected to increase the share of renewable energy in electricity generation to 42% between 2030 and 2035. 

Nigeria: Launched an Energy Transformation Plan in August 2022, which focuses on significant carbon reductions in five sectors: electricity, transportation, oil and gas, cooking, and industry. The goal is to reduce greenhouse gas emissions by 20% by 2030 compared to current trends, and to achieve carbon neutrality by 2060. 

Swadeshi: Updating the National Ownership Contribution in October 2021, with plans to increase the share of renewable energy in the electricity mix by 50% by 2030 and phasing out the use of hydrofluorocarbons (HFCs) from 2024 through the Kigali Amendment. The goal is to reduce greenhouse gas emissions by 5% by 2030 compared to current trends, and to achieve carbon neutrality by 2050. 

America 

United States: Launched the Climate Finance Program on 2023/7/14, which is expected to increase renewable energy supply to 100% by 2035, reduce greenhouse gas emissions by 50-52% by 2030 compared to 2005, and achieve net zero by 2050. At the same time, it adopts the “2050 Net Zero Long-Term Emissions Strategy”, “U.S. Regional Greenhouse Gas Initiative”, “Clean Competition Act” and “Reduce Inflation Act” and other policies to support it. 

Paraguay: According to the Paraguayan Energy Sector Decarbonization Pathway, it is expected that by 2030 the current surplus of hydroelectric capacity will be utilized to invest in modern, cleaner electricity generation and conditionally reduce GHG emissions by 20% compared to current trends. In addition, a biofuels program will be fully implemented starting in 2024, with the construction of biofuel plants, known as the Green Omega “Plant Project”, which will avoid up to 85% of carbon emissions. 

Chile: Adoption of the National Long-Term Climate Strategy in 2021, as well as policies such as the National Electricity Mobility Strategy, the Memorandum of Understanding on Green Hydrogen Exports, and Non-Traditional Renewable Energies, with the goal of reducing GHG emissions by 20% by 2030, and achieving net zero by 2050. 

Mexico: The General Law on Climate Change was passed in 2021 to adopt incentives for renewable energy, and the Special Plan on Climate Change was released in the same year, with the goal of reducing greenhouse gas emissions by 22% and black carbon emissions by 51% by 2030 compared to 2015. In addition, the National Strategy for Emission Reduction Plus (REDD+) has been implemented since 2017, which promotes the reduction of emissions from land use and its changes, as well as forestry, and is expected to achieve a net deforestation rate of 0% by 2030. 

Colombia: passed a Climate Strategy and a Climate Action Act in November and December 2021 respectively, enshrining its NDC and Net Zero targets into law. Aims to reduce black carbon by 40% and greenhouse gas emissions by 90% by 2030 compared to 2014 and 2015, with the remaining 10% to be covered by carbon capture and storage and is expected to be carbon neutral by 2050. Current non-hydro renewable energy generation measures are expected to increase to 32% by 2027. 

Brazil: Currently adopts the Future Fuels Plan, the National Hydrogen Plan, the Energy Plan 2020-2029, and the Transportation Department’s Urban Transportation Climate Change Mitigation and Adaptation Plan, with the goal of having renewable energy sources account for 48% of primary energy and 84% of electricity generation, reducing greenhouse gas emissions by 50% by 2030, and achieving climate neutrality by 2050. 

Canada: Pass the Canada Zero Emissions Accountability Act in June 2021, supplemented by policies such as Carbon Pricing and the 2035 Fuel Vehicle Ban. The goal is to reduce greenhouse gas emissions by 40-45% by 2030 compared to 2005, and to achieve net zero by 2050. At this stage, the Energy Saving Tax Rebate has been adopted to reduce the purchase price of specific energy-saving products by up to 25%. 

Oceania 

Australia: The Climate Change Act 2022 was introduced on September 13,2022 and is expected to reduce greenhouse gas emissions by 43% by 2035 compared to 2005, and to achieve net zero by 2050, with the adoption of the Future Fuels and Vehicles Strategy and the National Hydrogen Strategy. At the same time, policies such as the Future Fuels and Vehicles Strategy, Low Carbon Emissions Technical Statement and National Hydrogen Strategy are adopted. 

New Zealand: The Zero Carbon Act was passed in 2019 after the Climate Change Response Act of 2008 and is expected to reduce greenhouse gas emissions by 50% by 2030 compared to 2005, target a 20% reduction in vehicle use and 100% renewable electricity by 2035, and achieve net zero emissions of biomethane by 2050. 

Source:Global Carbon Tax Status （Each country has a link to the source of the information, please click directly） 

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