China to implement carbon tax in 2015

CHINA, the world’s largest carbon polluter, could follow in Australia’s footsteps by imposing a price on carbon emissions in an effort to move to a greener future.
China to implement carbon tax in 2015 China to implement carbon tax in 2015 China to implement carbon tax in 2015 China to implement carbon tax in 2015 China to implement carbon tax in 2015

 

Lauren Barrett

According to the China Daily, the proposed tax has been submitted to the Ministry of Finance for review.

The submission is considering a tax on emissions of greenhouse gasses from 2015 and will target the country’s biggest coal, oil and gas producers.

While the plan is in its preliminary stages, circulating media reports said a starting price on carbon could vary between a rate of $A1.55 a tonne up to $1.59.

However, the rate was expected to increase periodically from its implementation.

Fiscal Science Research Centre deputy director Su Ming reportedly told China Daily the taxes would be collected by the end of the 2011-2015 five-year plan.

China has been progressing towards creating a cleaner future, only recently extending its taxable resources to include coking coal, imposing a sales tax ranging from 8 yuan ($A1.25) to 20 yuan ($3.15) per tonne of coking coal.

China emitted a quarter of total global emissions in 2010, equating to 8.33 billion tonnes of carbon dioxide according to the BP statistical review of world energy 2011.

Australia’s emission-reduction scheme will begin on July 1 with a starting carbon price of $23 a tonne.

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