IMF Says Carbon Tax Is Most Powerful Way to Fight Climate Crisis
The International Monetary Fund (IMF) released a report that says action is needed urgently to tackle the climate crisis. It said that countries around the world need to drastically reduce their carbon emissions immediately and the most effective way is through a carbon tax and with global cooperation, as Reuters reported.
The report did not mince words when it came to the threat the climate crisis poses. "Global warming causes major damage to the global economy and the natural world and engenders risks of catastrophic and irreversible outcomes," the IMF said in its semi-annual fiscal monitor report released ahead of next week's IMF and World Bank fall meetings of finance leaders and policymakers, according to Reuters.
The IMF's report said a meaningful carbon tax is the "single most powerful way" to hand the climate crisis, since it allow businesses and households to find the lowest-cost ways of reducing energy use and transitioning towards cleaner alternatives.
"We view fiscal policy as a crucial way of combating climate change," said Paolo Mauro, deputy director of Fiscal Affairs Department at the IMF, as CNBC reported. "You can reshape the tax system and you can reshape fiscal policy more generally in order to discourage carbon emissions."
However, there is sure to be backlash to the IMF's proposal since it calls for a drastic rise in energy bills.
"To limit global warming to 2C or less – the level deemed safe by science – large emitting countries need to take ambitious action," IMF economists said, as The Guardian reported. "For example, they should introduce a carbon tax set to rise quickly to $75 a ton in 2030. This would mean household electric bills would go up by 43 percent cumulatively over the next decade on average – more in countries that still rely heavily on coal in electricity generation, less elsewhere. Gasoline would cost 14 percent more on average."
While more than 40 governments around the world have implemented some form of carbon pricing, the global average carbon price is $2 a ton — a small fraction of the $75 a ton price in 2030 that the IMF insists is necessary to keep a 2 degrees Celsius warming target, according to the report.
The idea is that a sharp spike in prices will force businesses and consumers to seek more affordable options provided by cleaner, renewable energy.
The report noted that while the 2015 Paris climate agreement set a target of keeping warming at just 2 degrees Celsius above pre-industrial times, the current global commitments ignore that target and are consistent with 3 degrees Celsius warming.
The report also noted that many of the world's wealthiest and most industrialized nations will miss their own targets.
"Implementation of existing commitments is therefore a first-step priority, but mechanisms to boost action at a global level are urgently needed," the report said, as Reuters reported.
A hefty carbon tax is already in place in some countries. Great Britain has seen coal use plummet after a 2013 carbon tax. Canada has a carbon tax that will hit $38 per ton of carbon in 2022. Even China will start a cap-and-trade program next year, as CNBC reported.
"The cost of achieving emissions reductions through these approaches would be lower than the costs to people and the planet from climate change," the report said.
"Finance ministers in all countries are central to designing and implementing policies to meet emissions reductions in the most efficient, equitable, and socially and politically acceptable way."
The IMF pointed to Sweden as an example of a country that has smoothly implemented a steep carbon tax. Sweden introduced a carbon tax of $28 per ton in 1991 that has since risen to $127 a ton. It made sure to protect its citizens by coupling the carbon tax with an income tax cut for low and middle-income households.
That stands in stark contrast to the lessons from France where President Macron's clumsy effort to usher in a $50 per ton of carbon tax led to the Yellow Vest riots. The IMF report noted "the perceived unfairness of the tax, which was introduced at the same time as broader tax reductions seen as benefiting the wealthy," according to Reuters.
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By Daisy Simmons
1. Stay Informed<p>A first order of business in pet evacuation planning is to understand and be ready for the possible threats in your area. Visit <a href="https://www.ready.gov/be-informed" target="_blank">Ready.gov</a> to learn more about preparing for potential disasters such as floods, hurricanes, and wildfires. Then pay attention to related updates by tuning <a href="http://www.weather.gov/nwr/" target="_blank">NOAA Weather Radio</a> to your local emergency station or using the <a href="https://www.fema.gov/mobile-app" target="_blank">FEMA app</a> to get National Weather Service alerts.</p>
2. Ensure Your Pet is Easily Identifiable<p><span>Household pets, including indoor cats, should wear collars with ID tags that have your mobile phone number. </span><a href="https://www.avma.org/microchipping-animals-faq" target="_blank" rel="noopener noreferrer">Microchipping</a><span> your pets will also improve your chances of reunion should you become separated. Be sure to add an emergency contact for friends or relatives outside your immediate area.</span></p><p>Additionally, use <a href="https://secure.aspca.org/take-action/order-your-pet-safety-pack" target="_blank" rel="noopener noreferrer">'animals inside' door/window stickers</a> to show rescue workers how many pets live there. (If you evacuate with your pets, quickly write "Evacuated" on the sticker so first responders don't waste time searching for them.)</p>
3. Make a Pet Evacuation Plan<p> "No family disaster plan is complete without including your pets and all of your animals," says veterinarian Heather Case in <a href="https://www.youtube.com/watch?v=Q9NRJkFKAm4" target="_blank">a video</a> produced by the American Veterinary Medical Association.</p><p>It's important to determine where to take your pet in the event of an emergency.</p><p>Red Cross shelters and many other emergency shelters allow only service animals. Ask your vet, local animal shelters, and emergency management officials for information on local and regional animal sheltering options.</p><p>For those with access to the rare shelter that allows pets, CDC offers <a href="https://www.cdc.gov/healthypets/emergencies/pets-in-evacuation-centers.html" target="_blank">tips on what to expect</a> there, including potential health risks and hygiene best practices.</p><p>Beyond that, talk with family or friends outside the evacuation area about potentially hosting you and/or your pet if you're comfortable doing so. Search for pet-friendly hotel or boarding options along key evacuation routes.</p><p>If you have exotic pets or a mix of large and small animals, you may need to identify multiple locations to shelter them.</p><p>For other household pets like hamsters, snakes, and fish, the SPCA recommends that if they normally live in a cage, they should be transported in that cage. If the enclosure is too big to transport, however, transfer them to a smaller container temporarily. (More on that <a href="https://www.spcai.org/take-action/emergency-preparedness/evacuation-how-to-be-pet-prepared" target="_blank" rel="noopener noreferrer">here</a>.)</p><p>For any pet, a key step is to establish who in your household will be the point person for gathering up pets and bringing their supplies. Keep in mind that you may not be home when disaster strikes, so come up with a Plan B. For example, you might form a buddy system with neighbors with pets, or coordinate with a trusted pet sitter.</p>
4. Prepare a Pet Evacuation Kit<p>Like the emergency preparedness kit you'd prepare for humans, assemble basic survival items for your pets in a sturdy, easy-to-grab container. Items should include:</p><ul><li>Water, food, and medicine to last a week or two;</li><li>Water, food bowls, and a can opener if packing wet food;</li><li>Litter supplies for cats (a shoebox lined with a plastic bag and litter may work);</li><li>Leashes, harnesses, or vehicle restraints if applicable;</li><li>A <a href="https://www.avma.org/resources/pet-owners/emergencycare/pet-first-aid-supplies-checklist" target="_blank">pet first aid kit</a>;</li><li>A sturdy carrier or crate for each cat or dog. In addition to easing transport, these may serve as your pet's most familiar or safe space in an unfamiliar environment;</li><li>A favorite toy and/or blanket;</li><li>If your pet is prone to anxiety or stress, the American Kennel Club suggests adding <a href="https://www.akc.org/expert-advice/home-living/create-emergency-evacuation-plan-dog/" target="_blank" rel="noopener noreferrer">stress-relieving items</a> like an anxiety vest or calming sprays.</li></ul><p>In the not-unlikely event that you and your pet have to shelter in different places, your kit should also include:</p><ul><li>Detailed information including contact information for you, your vet, and other emergency contacts;</li><li>A list with phone numbers and addresses of potential destinations, including pet-friendly hotels and emergency boarding facilities near your planned evacuation routes, plus friends or relatives in other areas who might be willing to host you or your pet;</li><li>Medical information including vaccine records and a current rabies vaccination tag;</li><li>Feeding notes including portions and sizes in case you need to leave your pet in someone else's care;</li><li>A photo of you and your pet for identification purposes.</li></ul>
5. Be Ready to Evacuate at Any Time<p>It's always wise to be prepared, but stay especially vigilant in high-risk periods during fire or hurricane season. Practice evacuating at different times of day. Make sure your grab-and-go kit is up to date and in a convenient location, and keep leashes and carriers by the exit door. You might even stow a thick pillowcase under your bed for middle-of-the-night, dash-out emergencies when you don't have time to coax an anxious pet into a carrier. If forecasters warn of potential wildfire, a hurricane, or other dangerous conditions, bring outdoor pets inside so you can keep a close eye on them.</p><p>As with any emergency, the key is to be prepared. As the American Kennel Club points out, "If you panic, it will agitate your dog. Therefore, <a href="https://www.akc.org/expert-advice/home-living/create-emergency-evacuation-plan-dog/" target="_blank" rel="noopener noreferrer">pet disaster preparedness</a> will not only reduce your anxiety but will help reduce your pet's anxiety too."</p>
Evacuating Horses and Other Farm Animals<p>The same basic principles apply for evacuating horses and most other livestock. Provide each with some form of identification. Ensure that adequate food, water, and medicine are available. And develop a clear plan on where to go and how to get there.</p><p>Sheltering and transporting farm animals requires careful coordination, from identifying potential shelter space at fairgrounds, racetracks, or pastures, to ensuring enough space is available in vehicles and trailers – not to mention handlers and drivers on hand to support the effort.</p><p>For most farm animals, the Red Cross advises that you consider precautionary evacuation when a threat seems imminent but evacuation orders haven't yet been announced. The American Veterinary Medical Association has <a href="https://www.avma.org/resources/pet-owners/emergencycare/large-animals-and-livestock-disasters" target="_blank">more information</a>.</p>
Bottom Line: If You Need to Evacuate, So Do Your Pets<p>As the Humane Society warns, pets left behind in a disaster can easily be injured, lost, or killed. Plan ahead to make sure you can safely evacuate your entire household – furry members included.</p>
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