Israeli central bank recommends imposing carbon tax

0 Comment(s)Print E-mail Xinhua, June 11, 2020
Adjust font size:

JERUSALEM, June 10 (Xinhua) -- Israel's central bank recommended imposing a carbon tax to accelerate the reduction of greenhouse gas emissions, according to a report released by the bank on Wednesday.

The proposed tax is expected to be imposed on polluting energy sources such as vehicle fuels, as well as gas and coal used to generate electricity.

In the 2015 Paris Agreement on climate change, Israel has committed to reducing greenhouse gas emissions from 10.1 tons per capita in 2015, to 8.8 tons in 2025 and 7.7 tons in 2030.

According to the bank, Israel can meet these goals if coal-fired power plants are converted to gas by 2024 and if the rate of electricity generation from renewable energy reaches 30 percent of total electricity generation.

The bank noted that toughening greenhouse gas emissions targets in the coming years in the European Union and others may require further significant reduction actions in the Israeli economy as well.

These actions could include, according to the bank, the imposition of taxes, the transition to the use of electric vehicles and the expansion of energy use from renewable sources.

The bank, together with the Ministry of Environmental Protection, also announced the plan for a joint expert workshop to discuss global warming, its potential impact on the Israeli economy, and possible mechanisms for reducing emissions. Enditem

Print E-mail Bookmark and Share

Go to Forum >>0 Comment(s)

No comments.

Add your comments...

  • User Name Required
  • Your Comment
  • Enter the words you see:   
    Racist, abusive and off-topic comments may be removed by the moderator.
Send your storiesGet more from