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Tax policy makers, globally (for example OECD, EU) and domestically, are increasingly focusing on their members’ or countries’ contributions to environmental and green agendas. Tax measures that countries have implemented or are considering include: carbon taxes, green tax incentives, and carbon border adjustments. At the same time, companies are seeking to measure and reduce their carbon footprints, evaluate climate change risks, and communicate this information with investors, employees, customers, regulators or more widely.
As governments assess how taxes and incentives can be used to address climate change, CEOs and leaders need to reevaluate their strategies, risks, and business models. Supranational bodies are increasingly turning their attention to highlighting issues, setting standards or determining best practices in this area:
While measurement and monitoring of Environmental, Social and Governance (ESG) metrics is becoming a more key issue for businesses, environmental and green tax policies will also be relevant in relation to: