IMF calls for carbon taxes

International Monetary Fund (IMF) Managing Director Kristalina Georgieva expressed last month the IMF’s strong support for the implementation of substantial carbon taxes by governments as a means to combat “climate change.”

“We are very keen to give the biggest possible incentive for decarbonisation, which is putting a price on carbon. That price needs to go up, up, up if we are to speed up decarbonisation,” Georgieva declared at the UN COP28 climate summit.

She further attempted to rationalize carbon taxes by asserting that they would generate additional income for governments.

“We are a huge proponent of carbon price,” she went on. “We believe that carbon price has the potential of raising revenues in a way that is both equitable — because the more you consume, the more you pollute, the more you pay — and it is also an incentive to equalize decarbonization. In other words, you would need less money because of consumption and production adapting to it.”

The perspective of the IMF chief regarding the “climate crisis” being a lucrative opportunity is also held by several countries globally. In September, African countries signed the Nairobi Declaration, which called for wealthier nations to implement a worldwide carbon tax and allocate the resulting profits to Africa.

However, in nations where carbon taxes have been put into effect, taxpayers are discovering that their expenses are rising despite the lack of improvement in the climate.

The implementation of an additional carbon tax by the government is expected to result in a 10% rise in energy costs for Irish households. The plan follows the implementation of a previous carbon tax in May, which resulted in a €7.50 ($8.18) increase in the price per ton of fossil fuels, bringing it to €48.50 ($52.81).

In Canada, the Trudeau administration is resolutely moving forward with its plans to transition the country to “net zero” electricity, even though they acknowledge that it will come at a significant cost to taxpayers. Alberta Premier Danielle Smith criticized the government’s “net zero” plans in May and warned Albertans to anticipate a 40% rise in electricity rates.

Canadian taxpayers are already facing the impact of a carbon tax that was implemented by the Trudeau administration in July, with the aim of safeguarding the climate.

However, proponents of globalization are continuing to advocate for the implementation of international climate taxation. The implementation of carbon taxes has been urged by the World Economic Forum (WEF) and the United Nations, emphasizing the importance of this measure for governments.

In the policy briefs released recently under the title “Our Common Agenda,” UN Secretary-General António Guterres emphasized the importance of countries implementing measures such as carbon pricing, fossil fuel taxes, environmental taxes, or direct regulations to deter harmful activities. Guterres suggested that these measures should include fines and penalties that surpass the potential profits gained from such activities.

In May, French President Emmanuel Macron also advocated for a global tax as a means to combat climate change.

During the New Global Financing Pact in Paris, Macron delivered his speech. The meeting spanned two days and saw participants from various countries committing additional funds to support the fight against global warming.

“I’m in favor of an international taxation to finance efforts that we have to make to fight poverty and in terms of climate [action]. . . . It doesn’t work when you do it alone, the [financial] flows go elsewhere,” said Macron.

The globalist leader proposed the implementation of carbon taxes specifically targeting plane tickets and transactions, a policy that has already been enacted in France.

“France already has in place two types of taxes that have been suggested: one on plane tickets, another on financial transactions,” he stated, as reported by Bloomberg.