Appetite for change - Accountancy Nieuws

Section 4How can policies find support?In some cases, hypothecation may not be the most efficientway to direct funds into environmental projects. It may alsonot generate sufficient funds for green initiatives. On theother hand, for governments that shift a significant portion oftheir revenue to green taxes, hypothecation of all the revenuefrom those taxes will simply be impractical. But whetherthrough hypothecation or other means, governments thatlink new taxes strongly with environmental outcomes have amuch better chance of garnering business support. As onerespondent indicated, “If designed properly, a carbon tax canwork. The key design element is that it has to be linked toenvironmental progress.”Figure 24Fewer than a third are confident that ‘giving back’ will become a realityTotalEuropean UnionNorth AmericaBrazil, Russia,India and China24 42 26 525 40 27 523 47 26 321 39 31 8Other33 43 13 4“If designed properly, a carbon tax can work.The key design element is that it has to be linked toenvironmental progress.”Not at all confidentFairly confidentNot very confidentVery confidentHow confident are you that monies raised from environmental taxes and regulationare being/would be directed to ‘green’ or environmental projects and initiatives?Base: Total (654)34 Appetite for change. PricewaterhouseCoopers.