Switzerland To Tax CO2 Emissions
Switzerland will introduce a tax – which it likes to refer to as an incentive – on carbon dioxide emissions from January 1, 2008, China Daily reports.
The tax will be applied to all imported fossil fuels, amounting to around $0.25 on each liter of heating oil and about $0.2 on a cubic meter of gas.
According to a deal agreed by the cabinet and parliament earlier this year, the CO2 tax becomes mandatory in 2008 since Switzerland failed to reach its own emissions reduction target for 2006.
The Swiss Petroleum Association doubts the government’s claim that the tax will reduce CO2 emissions by 700,000 tons a year, saying that sales of heating oil would actually increase over the coming months as buyers rush to fill their tanks before the tax comes into effect, Swissinfo reports.
Stay Up-to-Date On Environmental Management, Energy & Sustainability News with EL's Free Daily Newsletter
Energy Manager News
- Embracing New Tech Is Key to Greater Energy Savings, Say Experts
- Johnson Controls, Hitachi Appliances Launch AC JV
- Walmart Saving Money While Driving Efficiency
- Solutions to Help Reach Building Energy Management Goals
- Advanced Fans Cut Datacenter Energy Requirements
- Renew Financial Acquires FL PACE-Lender EcoCity Partners
- Solar Canopies in Maryland, California
- Increased Demand for EVs Driving Global Battery Management System Market