Could a New Green VAT System Encourage Sustainable Consumption and Production?

On 02/04/2014, in Environmental Economics, Environmental Finance, Sustainable Production, by Dr. Paola Fiore

Green VAT System and Sustainable Consumption and Production

 

A recent study has proposed a new economic tool designed to encourage a more sustainable production and consumption.

To ensure that the environmental impact of products is reflected in their cost, the authors of the research recommend a System of Green Value Added Tax (VAT) based on the Life Cycle Assessment (LCA).

The importance of decoupling environmental degradation from economic growth is highlighted by the EU’s Roadmap to a Resource Efficient Europe and Sustainable Consumption and Production and Sustainable Industrial Policy Action Plan.

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