UN calls on Africa to introduce eco taxes
10 March 2015
Posted by: Author: Lorys Charalambous
Author: Lorys Charalambous (Tax-News.com, Cyprus)
The United Nations has released a new report, Africa's Adaption
Gap, which recommends that African countries begin to introduce environmental
levies to contribute to global climate change efforts.
The report was released at the 15th African Ministerial Conference
on the Environment (AMCEN). It follows on from the UN Environment Program's
Global Adaptation Gap Report 2014, which found that the cost of introducing the
changes needed in developing countries to reduce emissions could be as high as
USD250-500bn per year by 2050.
The report warns that African countries are particularly exposed
to potential infrastructure damage from global warming and that an ambitious
program of damage limitation will be needed. It says that "given the
increasing severity of the adaptation challenge posed by climate change to
Africa, no stone should be left unturned in looking for solutions for closing
the adaptation gap."
It says that Africa will not be able to depend solely on global
contributions to meet this cost, and governments need to consider
revenue-raising methods. The report considers four potential options, including
new levies on either the mining sector, on financial transactions, trade, or
The report stresses the urgency of early action by the nations
concerned, noting that global warming is progressing more rapidly than
previously projected. It states that "even if such regional revenues were
generated by the application of these levies, adaptation costs would exceed the
revenue generation capacity as early as 2020."
This article first appeared on tax-news.com.