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高一英语气候政策分析单选题30题1.The Paris Agreement aims to limit global warming to well below 2 degrees Celsius and pursue efforts to limit the temperature increase to 1.5 degrees Celsius. What is the main purpose of this agreement?A.Reduce greenhouse gas emissions.B.Increase fossil fuel consumption.C.Neglect environmental protection.D.Destroy natural habitats.答案：A。
选项A 的意思是减少温室气体排放，《巴黎协定》的主要目的就是减少温室气体排放以限制全球变暖。
选项B 增加化石燃料消耗与协定目的相悖。
选项 C 忽视环境保护错误。
选项 D 破坏自然栖息地也不符合协定目的。
2.Many countries are implementing renewable energy policies. What is the main benefit of renewable energy?A.Pollute the environment.B.Save natural resources.C.Harm wildlife.D.Cause climate change.答案：B。
选项B 的意思是节约自然资源，可再生能源的主要好处就是节约自然资源。
选项A 污染环境错误。
选项C 伤害野生动物不对。
选项D 引起气候变化错误。
3.The carbon tax is a policy measure to encourage companies toreduce emissions. What does a carbon tax do?A.Increase emissions.B.Encourage sustainable development.C.Hinder economic growth.D.Destroy the environment.答案：B。
英语作文-碳排放交易与碳市场发展计划与政策措施研究Carbon Emissions Trading and Development Plans for Carbon Markets: Research on Policies and Measures。
Carbon emissions trading, also known as carbon trading or cap-and-trade, is a market-based approach used to control pollution by providing economic incentives for achieving reductions in emissions of pollutants. This mechanism has gained significant attention globally as a key strategy to mitigate climate change. The concept revolves around setting a cap on the total amount of certain greenhouse gases that can be emitted by regulated entities. These entities, which can include industries, power plants, and other facilities, are issued permits or allowances that represent the right to emit a specific amount. 。
The core principle of carbon trading is the flexibility it offers in achieving emission reduction targets. By allowing entities to buy and sell emission permits, the system encourages cost-effective reductions. Those entities that can reduce emissions at a lower cost have the opportunity to sell excess permits to those facing higher costs, thereby achieving the overall emission reduction goal at the lowest possible economic cost.The development of carbon markets involves several key components. Firstly, establishing clear and enforceable emission caps is crucial. These caps are typically set by governments based on scientific assessments of what is necessary to meet environmental targets. Secondly, a robust monitoring, reporting, and verification (MRV) system is essential to track emissions accurately and ensure compliance with regulatory requirements. Transparency in reporting builds trust in the market and enhances its integrity.Moreover, linking carbon markets across different jurisdictions or countries can amplify their effectiveness. This approach allows for a broader pool of participants andgreater opportunities for cost savings. International cooperation in carbon trading can facilitate the transfer of clean technologies and best practices, accelerating global efforts towards decarbonization.Policy measures play a pivotal role in shaping the success of carbon markets. Governments may provide initial allocations of emission permits for free or through auctioning, depending on their specific policy goals and economic considerations. Revenue generated from auctioning permits can be reinvested into climate-friendly projects or used to compensate vulnerable sectors affected by the transition to a low-carbon economy.To ensure the long-term viability of carbon markets, it is essential to address potential challenges and risks. Market oversight and regulation are critical to prevent market manipulation and ensure fair competition. Additionally, periodic reviews and adjustments to emission caps are necessary to reflect evolving climate science and policy objectives.In recent years, carbon pricing mechanisms, including carbon taxes and emissions trading systems, have gained traction as effective tools to internalize the social cost of carbon and drive investments towards cleaner technologies. The Paris Agreement, adopted in 2015, has further catalyzed global momentum towards carbon neutrality. Many countries have committed to enhancing their nationally determined contributions (NDCs) and integrating carbon pricing into their climate strategies.Looking ahead, the expansion and harmonization of carbon markets on a global scale remain pivotal. Building consensus on common standards and practices can facilitate smoother market operations and enhance liquidity. Collaboration between governments, businesses, and civil society is indispensable in advancing climate ambitions and achieving sustainable development goals.In conclusion, carbon emissions trading represents a pragmatic approach to combatting climate change by harnessing market forces to reduce greenhouse gas emissions efficiently. As countries strive to meet their climate targets, the role of carbonmarkets will continue to evolve, driving innovation, investment in clean technologies, and ultimately paving the way towards a more resilient and sustainable future for all.。
sophisticated carbon tax policy Sophisticated Carbon Tax Policy: Addressing Climate Change and Promoting Sustainable DevelopmentIntroductionAs the world grapples with the urgent need to combat climate change and transition to a sustainable future, carbon pricing has emerged as a key tool to reduce greenhouse gas emissions. A sophisticated carbon tax policy, designed with a multi-faceted approach, has the potential to effectively tackle climate change while providing incentives for innovation and sustainable development. In this article, we will explore the various elements of a sophisticated carbon tax policy and discuss its implementation and possible outcomes.Understanding the Purpose and Mechanism of a Carbon TaxAt its core, a carbon tax is a financial instrument that assigns a price to each ton of carbon dioxide emitted by businesses, industries, and individuals. By imposing a cost on carbon emissions, the goal is to reduce greenhouse gas emissions, as well as incentivizesustainable practices and investments in low-carbon technologies.A sophisticated carbon tax policy goes beyond this basic framework and incorporates additional components to maximize its impact.Setting Ambitious Carbon Reduction TargetsTo ensure the effectiveness of a carbon tax policy, it is crucial to establish ambitious carbon reduction targets. These targets should be based on scientific evidence and designed to align with the goals outlined in international agreements such as the Paris Agreement. By setting clear and well-defined objectives, policymakers can ensure that the carbon tax plays a significant role in achieving the necessary emissions reductions.Implementing a Revenue Recycling MechanismOne of the most critical aspects of a sophisticated carbon tax policy is the implementation of a revenue recycling mechanism. Revenue generated from the carbon tax should not be seen as an additional burden on businesses and individuals, but rather as an opportunity for investment in renewable energy, sustainable infrastructure, andother initiatives that promote low-carbon development. By recycling the revenue back into the economy, governments can stimulate economic growth while reducing emissions.Progressivity and Social EquityIt is essential to consider the social aspect of a carbon tax policy to avoid burdening low-income households disproportionately. A sophisticated carbon tax policy should be designed with a progressive structure, meaning that the tax rate increases with the level of emissions. This ensures that those responsible for higher emissions pay a higher amount, while providing relief to households with limited resources. Additionally, revenues can be utilized to support low-income communities by providing subsidies for energy-efficient technologies and supporting job retraining programs in emerging sustainable industries.Encouraging Technological InnovationA sophisticated carbon tax policy should provide strong incentives for technological innovation in clean energy and low-carbon technologies. By allocating a portion of the carbon tax revenue toresearch and development in these sectors, governments can foster the development and implementation of innovative solutions to address climate change. This approach will not only reduce emissions in the short term but also advance the transition to a sustainable energy system in the long run.International Cooperation and Border Carbon AdjustmentsTo ensure the effectiveness of a carbon tax policy, international cooperation is vital. Governments should engage in dialogue and collaboration to harmonize carbon pricing mechanisms and prevent carbon leakage, which can occur when businesses relocate to countries with lower carbon prices. Additionally, a sophisticated carbon tax policy may include border carbon adjustments to address competitiveness concerns. These adjustments would require imports from countries without comparable carbon pricing mechanisms to be subject to a carbon tax upon entry, ensuring a level playing field for domestic industries.Evaluating the Potential OutcomesA well-designed and sophisticated carbon tax policy has thepotential to drive significant emissions reductions while fostering sustainable development. By providing price signals that reflect the true cost of carbon emissions, the policy incentivizes businesses and individuals to adopt sustainable practices and invest in clean technologies. The revenue generated from the tax can be reinvested in the economy, stimulating job creation and economic growth in the green sector. Additionally, the policy can enhance public awareness and understanding of the importance of climate change mitigation and encourage further action at the individual level.ConclusionIn conclusion, a sophisticated carbon tax policy can play a crucial role in addressing climate change and driving sustainable development. By incorporating elements such as ambitious carbon reduction targets, revenue recycling mechanisms, progressivity, technological innovation, and international cooperation, governments can design a policy framework that will maximize its effectiveness. It is through collaborative efforts and ongoingevaluation of outcomes that countries can develop and refine their carbon tax policies to meet the challenges of a rapidly changing world and create a sustainable future for generations to come.。
19 实现碳达峰碳中和减少气候变暖【热点材料】双碳，即碳达峰与碳中和的简称。
中国力争2030年前实现碳达峰，2060年前实现碳中和。
2022年8月，科技部、国家发展改革委、工业和信息化部等9部门印发《科技支撑碳达峰碳中和实施方案（2022—2030年）》（以下简称《实施方案》），统筹提出支撑2030年前实现碳达峰目标的科技创新行动和保障举措，并为2060年前实现碳中和目标做好技术研发储备。
“双碳”战略倡导绿色、环保、低碳的生活方式。
加快降低碳排放步伐，有利于引导绿色技术创新，提高产业和经济的全球竞争力。
中国持续推进产业结构和能源结构调整，大力发展可再生能源，在沙漠、戈壁、荒漠地区加快规划建设大型风电光伏基地项目，努力兼顾经济发展和绿色转型同步进行。
2022年9月2日，在中国国际服务贸易交易会（简称“服贸会”）上，“首届中国生态环保产业服务双碳战略院士论坛”召开。
与会院士围绕废弃物资源化助推碳达峰碳中和、我国水和大气污染防治科技发展成果及双碳背景下的发展展望、“双碳”目标下生态环境监测科技发展机遇与挑战，以及生态环保产业的机遇与挑战等主题做专题报告。
【典型范文】现在全世界都在倡导“低碳生活”（low-carbon life），即：降低二氧化碳的排放，采取低能量、低消耗的生活，低碳生活对我们大家都有好处，碳中和是我们努力的目标，低碳生活是我们应该追求的绿色生活方式，请以“How to Live a Low-carbon Life”为题写一篇英语文章，谈谈低碳生活的重要性以及你所倡导的低碳生活方式等。
要求：1.语言流畅、书写规范、卷面整洁，词数不少于60个；2.文中不得使用真实姓名、校名，否则以零分计；3.请将短文写在答题卡上，写在本试卷上无效。
_______________________________________________________________________________ _______________________________________________________________________________ _______________________________________________________________________________ _______________________________________________________________________________ _______________________________________________________________________________ _______________________________________________________________________________ _______________________________________________________________________________ _______________________________________________________________________________ ____________【拓展训练】A碳中和是我们努力的目标，低碳生活是我们应该追求的绿色生活方式。
有关税的英文作文英文：Tax is a topic that affects everyone, whether we likeit or not. It is a necessary part of our society and is used to fund important services such as healthcare, education, and infrastructure. However, taxes can also be a source of frustration for many people, especially when they feel like they are paying too much or not getting enough in return.One of the main reasons why people may feel like they are paying too much in taxes is because they do not fully understand how taxes work. For example, they may notrealize that there are different types of taxes, such as income tax, sales tax, and property tax, and that each one is calculated differently. They may also not be aware of the various deductions and credits that are available to them, which can help to lower their tax bill.Another issue with taxes is that they can be quite complex, with many rules and regulations to follow. This can make it difficult for the average person to navigate the tax system and ensure that they are complying with all the necessary requirements. As a result, many people may end up making mistakes on their tax returns, which can lead to penalties and fines.Despite these challenges, it is important to remember that taxes are a necessary part of our society and play an important role in funding the services that we rely on. While we may not always agree with how our tax dollars are being spent, it is important to recognize that we all have a responsibility to contribute to the common good.中文：税收是一个影响每个人的话题，无论我们喜不喜欢。
英语税法考试题及答案一、单项选择题（每题2分，共20分）1. According to the tax law, which of the following is not considered taxable income?A. SalaryB. Lottery winningsC. GiftsD. Government subsidies2. What is the standard deduction for an individual taxpayer in the current tax year?A. $12,000B. $12,200C. $12,400D. $12,6003. Which of the following is not a tax deduction?A. Charitable contributionsB. Home mortgage interestC. State and local taxesD. Entertainment expenses4. The corporate tax rate for companies with annual taxable income exceeding $10 million is:A. 15%B. 20%C. 25%D. 30%5. If a taxpayer has overpaid their taxes, they can claim a refund within:A. 1 yearB. 2 yearsC. 3 yearsD. 4 years6. Which of the following is not a tax credit?A. Child tax creditB. Education tax creditC. Retirement savings contribution creditD. Medical expenses deduction7. The deadline for filing an individual income tax return is:A. March 15thB. April 15thC. May 15thD. June 15th8. Which of the following is not a form of tax evasion?A. Falsifying financial recordsB. Underreporting incomeC. Overpaying estimated taxesD. Failing to report offshore accounts9. The tax law allows for a tax exemption for:A. Rental incomeB. Interest from municipal bondsC. Dividends from a mutual fundD. Capital gains from the sale of stocks10. The tax law imposes a penalty for:A. Late payment of taxesB. Incorrect filing of tax returnsC. Filing taxes in a different jurisdictionD. All of the above二、多项选择题（每题3分，共15分）1. Which of the following are considered taxable events?A. Sale of personal propertyB. Inheritance of real estateC. Receiving a pensionD. Winning a prize in a contest2. A taxpayer can claim deductions for the following expenses:A. Medical expensesB. Legal fees for a lawsuitC. Tuition fees for dependentsD. Home office expenses3. The corporate tax law provides for tax credits for:A. Research and development expensesB. Charitable donationsC. Energy-efficient equipment purchasesD. Employee training programs4. Which of the following are considered tax evasion?A. Filing false tax returnsB. Hiding income from a side businessC. Paying cash for services to avoid reporting incomeD. Claiming false deductions5. Taxpayers can defer taxes by:A. Contributing to a retirement accountB. Investing in tax-exempt bondsC. Paying estimated taxes quarterlyD. Establishing a trust for beneficiaries三、简答题（每题5分，共20分）1. Explain the difference between a tax deduction and a tax credit.2. What are the consequences of underreporting income on a tax return?3. Describe the process of filing an amended tax return if you have made an error in your original return.4. How can a taxpayer appeal a tax assessment if they disagree with the amount of tax owed?四、案例分析题（每题10分，共20分）1. Mr. Smith is a self-employed consultant who has been audited by the tax authorities. He has been found to have underreported his income by $50,000. What are the potential penalties and interest that Mr. Smith may face?2. Ms. Johnson has received a notice from the tax authorities stating that she is eligible for a tax refund of $3,000. However, she has not filed her tax return for the year in question. What steps should Ms. Johnson take to claim her refund?五、计算题（每题15分，共30分）1. Mr. Brown has a taxable income of $75,000 for the year. He has two dependents and has paid $5,000 in state and local taxes. Calculate his tax liability if the tax rate is 20% for the first $50,000 and 25% for the income above $50,000.2. A corporation has a taxable income of $2 million. It has claimed $300,000 in business expenses and has a tax credit of $50,000 for hiring veterans. Calculate the corporation's tax liability for the year.答案：一、单项选择题1. C2. D3. D4. C5. C6. D7. B8. C9。
中国和澳大利亚税法的不同英语作文Differences Between Chinese and Australian Tax LawsHi friends! Today I want to talk to you about something pretty boring - tax laws! I know taxes aren't the most fun topic, but they are really important for countries. Different countries have different tax rules that people and businesses need to follow.In my family, my parents have to pay taxes every year in China. My dad always complains about it, but my mom explains that the taxes help pay for things like schools, roads, and hospitals that we all use. Still, tax time is never fun at our house!I was curious to learn about how tax laws work in other countries too. One country I looked at was Australia. Australia is really far away from China - you'd have to take a really long plane ride to get there! But even though the two countries are far apart, there are some big differences in how they do taxes.Income TaxesOne of the biggest taxes that people pay is called an income tax. This is a tax on the money you earn from your job or any other income you have. Both China and Australia have income taxes, but they work a bit differently.In China, the income tax rates go from 3% all the way up to 45%! The exact rate you pay depends on how much total income you have for the year. People with higher incomes have to pay higher tax rates.Australia's income tax rates are a little bit lower, ranging from 0% up to 45%. Just like China though, the rate goes up for people with higher incomes. But Australian tax rates tend to be just a bit lower at most income levels compared to China.My dad always wishes we lived somewhere with really low income tax rates! But I've learned that taxes are important for countries to have good schools, roads, and services for the people who live there.Business TaxesApart from individual income taxes, there are also special taxes that businesses need to pay to governments. These business taxes can be very complicated, but I'll try my best to explain some of the key differences.In China, businesses need to pay something called a corporate income tax on any profits they make. The standard corporate tax rate in China is 25%. So if a company makes 1million RMB in profits, they would need to pay 250,000 RMB in corporate income taxes.Australia has corporate taxes too, but the rates work a little differently. Small businesses in Australia pay a lower 25% tax rate, but larger companies pay a 30% rate on their taxable income.There are also differences in how things like expenses and deductions are calculated when businesses file their tax returns. But I won't go into all those complex details!Value-Added TaxAnother really important type of tax that exists in some countries is called a value-added tax, or VAT. This is a tax that gets added on to the price of goods and services as they go through production and selling.China has a VAT system that applies to most goods and services sold in the country. The VAT rates in China can range from around 6% up to 17%, depending on what is being sold.Australia actually doesn't have a VAT system. Instead, they have something called a Goods and Services Tax (GST) which works a bit differently. The GST rate in Australia is a flat 10% applied to most products and services.I have to admit, all these different tax rates and rules make my head spin a little! Taxes seem very complicated, especially for businesses operating in multiple countries. No wonder my dad gets so frustrated every tax season!Other TaxesOn top of income taxes, corporate taxes, and consumption taxes like VAT and GST, there are various other taxes that people and businesses need to deal with too. Things like:Property taxes on homes, land, and real estatePayroll taxes for employersImport and export taxes on goods moving between countriesStamp duties and taxes on transfers of property or assetsAnd more!The exact rules and rates for all of these other taxes vary quite a bit between China and Australia as well. It's enough to make your head spin!My ThoughtsWell, those are some of the key differences I've learned about how taxes work in China compared to Australia. Both countries rely on taxes as an important way to fund government operations and public services. But the specific tax laws, rates, and systems can be quite different.Taxes are definitely a complex topic, even for kids like me trying to learn about them. I don't think I'll ever complain about doing my math homework again after seeing how complicated tax calculations can be!I know taxes can be frustrating to pay. But I also understand why they are important for countries to have good infrastructure, education, healthcare and more for their citizens. Even though I'm just a kid, I can appreciate why taxes matter.At the end of the day, whether you live in China or Australia, taxes are a fact of life that everyone needs to deal with. I just hope that when I grow up, I can find a good accountant to help me figure it all out! Thanks for reading, and let me know if you have any other questions.。
西安“PEP”2024年10版小学四年级上册英语第六单元综合卷[有答案]考试时间：100分钟（总分:120）B卷考试人：_________题号一二三四五总分得分一、综合题(共计100题共100分)1. 听力题：The ancient Incas built their empire in ________.2. 填空题：I have a special ______ (日记) where I write down my thoughts and ______ (感受).3. 听力题：The chemical formula for tin(II) sulfate is _____.4. 选择题：What do you call the president of the United States?A. Prime MinisterB. ChancellorC. PresidentD. King5. 选择题：What do you call the study of living things?A. GeographyB. BiologyC. SociologyD. Psychology答案:B6. 听力题：The area where an oceanic plate meets a continental plate is called a ______.7. 填空题：I like to go ______ (钓鱼) with my grandfather by the lake.8. 填空题：The _____ (小鸭) paddles smoothly in the pond.9. 选择题：What is the term for a story that is not real?A. BiographyB. FictionC. HistoryD. Memoir答案:B10. 填空题：The _____ (植物多样性) is crucial for ecosystem resilience.11. 选择题：What is the main color of grass?A. GreenB. YellowC. BlueD. Brown12. 填空题：Understanding the needs of your plants is essential for ______. (了解植物的需求对成功种植至关重要。
如何看待税收变化英语作文Title: Analysis of Taxation Changes。
Taxation changes are a critical aspect of fiscal policy that can significantly impact individuals, businesses, and the overall economy. In this essay, we will delve into the various perspectives on taxation changes and examine their implications.Firstly, from a macroeconomic standpoint, taxation changes can influence aggregate demand and supply. When taxes are reduced, individuals and businesses typically have more disposable income, leading to increased consumption and investment. This can stimulate economic growth, create jobs, and enhance overall prosperity. Conversely, tax increases may dampen consumer spending and investment, potentially slowing down economic activity. Therefore, the direction and magnitude of taxation changes are crucial considerations for policymakers aiming to achieve macroeconomic objectives such as full employmentand stable prices.Secondly, taxation changes also have distributional effects, impacting different segments of societydifferently. For instance, tax cuts targeting low-income households can alleviate poverty and promote social equity by enhancing their purchasing power. On the other hand, tax hikes on high-income earners or corporations may aim to reduce income inequality and fund social programs. However, such measures could also affect incentives for entrepreneurship, innovation, and investment, which are essential drivers of economic growth. Balancing the objectives of equity and efficiency is thus a key challenge in designing taxation policies.Moreover, taxation changes can influence business behavior and investment decisions. Lower corporate taxes,for example, may incentivize firms to expand operations,hire more workers, and undertake capital investments. This can boost productivity and competitiveness, ultimately benefiting consumers and the economy as a whole. Conversely, higher taxes on businesses could reduce profitability,leading to cost-cutting measures such as layoffs or price increases. Furthermore, changes in tax incentives for specific industries or activities can affect resource allocation and market dynamics, shaping the trajectory of economic development.Additionally, taxation changes play a crucial role in shaping government revenue and expenditure patterns. Tax cuts may lead to revenue shortfalls, necessitating adjustments in public spending priorities or borrowing to cover the gap. Conversely, tax increases can bolster government coffers, providing funding for essential services such as education, healthcare, and infrastructure. However, excessive reliance on taxation as a revenue source can distort incentives and hinder private sector growth. Therefore, maintaining a balanced fiscal stance that ensures sustainable revenue generation while promoting economic dynamism is essential for fiscal stability.Furthermore, taxation changes can have implications for international competitiveness and capital flows. Countries with lower tax rates may attract foreign investment andskilled labor, fostering economic growth and job creation. Conversely, jurisdictions with high taxes may experience capital flight and brain drain as individuals and businesses seek more favorable environments. Therefore, tax policies need to strike a delicate balance between raising sufficient revenue and maintaining competitiveness in the global marketplace.In conclusion, taxation changes are a multifaceted issue with wide-ranging implications for the economy, society, and government finances. While they can stimulate economic activity, promote social equity, and fund public services, they also pose challenges such as distributional impacts, business behavior changes, and international competitiveness concerns. Policymakers must carefully weigh these factors and design taxation policies that achieve a balance between economic efficiency, social equity, and fiscal sustainability. Only through informed analysis and thoughtful decision-making can taxation changes contribute positively to overall welfare and prosperity.。
How to reduce carbon emissions？如何减少碳排放？外刊素材原句What governments and companies can do？1. Introduce waste-sorting rules推行垃圾分类政策Waste is an important contributor to carbon emissions. With more waste being recycled, less of it needs to be landfilled or incinerated, processes in which the waste decomposes and produces greenhouse gases.废物是造成碳排放的重要因素。
随着越来越多的废物被回收利用，越来越少的废物需要填埋或焚化（在这些过程中，废物会分解并产生温室气体）。
2. Impose a carbon tax实施碳税A carbon tax is a tax levied on the carbon content of goods and services, predominantly in the transport and energy sectors. Carbon taxes intend to reduce carbon dioxide emissions by increasing prices, thereby decreasing demand for such goods and services.碳税是对商品和服务的碳含量征收的税，主要是在运输和能源部门。
碳税旨在通过提高价格来减少二氧化碳排放，从而减少对此类商品和服务的需求。
3. Subsidize public transportation补贴公共交通Offering a reasonable discount encourages workers to take public means of transport instead ofusing their own car to commute.提供合理的折扣可以鼓励工作者们乘坐公共交通工具，而不是自己开车上下班。
Full Terms & Conditions of access and use can be found at/action/journalInformation?journalCode=raec20Download by: [North West University]Date:10 January 2016, At: 06:39Applied EconomicsISSN: 0003-6846 (Print) 1466-4283 (Online) Journal homepage: /loi/raec20How may a carbon tax transform Australian electricity industry? A CGE analysisSam MengTo cite this article: Sam Meng (2014) How may a carbon tax transform Australian electricity industry? A CGE analysis, Applied Economics, 46:8, 796-812, DOI:10.1080/00036846.2013.854302To link to this article:/10.1080/00036846.2013.854302Published online: 22 Jan 2014.Submit your article to this journalArticle views: 282View related articlesView Crossmark dataHow may a carbon tax transform Australian electricity industry?A CGE analysisSam MengInstitute for Rural Futures,University of New England,Armidale,NSW 2351,AustraliaE-mail:xmeng3@.auThe carbon tax policy proposed by Australian government has triggered deep concerns about the high electricity prices facing households and the sustainability of electricity industry.By employing a computable general equilibrium (CGE)model and an environmentally extended Social Accounting Matrix (SAM),this article simulates the effect of Australian carbon tax on the electricity industry.The modelling results show that the wholesale electricity prices indeed increase by about 90%,but the retailer prices only increase by 25%.The coal-fired electricity generators will reduce their output by 8%(for black-coal)to 18%(for brown-coal),but the pro fitability of the industry will drop dramatically.On the other hand,generators using oil,gas or renewable resources,will increase their output signi ficantly and enjoy a handsome pro fit.Through the price,cost and pro fit-ability mechanisms,the carbon tax will transfer the Australian electricity genera-tion to a low emission industry in the long term.Keywords:carbon tax;CGE modelling;electricity;stationary emission JEL Classi fication:D58;Q58;Q52I.IntroductionThe carbon pricing debate in Australia has gone a long way since the Senate Standing Committee on Industry,Science and Technology released the report ‘Gas and Electricity:Combining Ef ficiency and Greenhouse ’in 1992.Eventually,the ‘Clean Energy Bills ’passed both Houses in 2011,which state that Australia will introduce a carbon tax from 1July 2012in order to reduce carbon emissions by 80%below 2000levels by 2050.The carbon pricing policy has induced tremendous fear in commu-nities and among energy industries,especially the electri-city industry.One concern is that the emission-intensive electricity generators (e.g.coal-fired generator)will go bankrupt under the carbon tax and thus cause large amount of unemployment.The other fear widely spread in the community is that the carbon policy will trigger a dramatic increase in electricity prices.To support the carbon tax proposal,the Australian Treasury has undertaken comprehensive modelling.The Treasury has employed a suite of different models,includ-ing two computable general equilibrium (CGE)models,one input –output model and a number of micro-models for the electricity and road transport sectors (the details about the Treasury modelling will be provided in Section II).The modelling results show that,although the coal-fired electricity generation will reduce by 9.6%by 2020,the employment in this sector will increase by 0.1%.Regarding the electricity prices,the model projects about 40%increase in wholesale electricity prices but only 10%Applied Economics ,2014Vol.46,No.8,796–812,/10.1080/00036846.2013.854302796©2013Taylor &FrancisD o w n l o a d e d b y [N o r t h W e s t U n i v e r s i t y ] a t 06:39 10 J a n u a r y 2016increase in household electricity prices.However,the results from this modelling depend on the parameters and assumptions used (as with all models),but given the intricacy and complexity of the modelling,these are not easy to articulate and evaluate.Similarly,the results will depend on the degree of integration and compatibility of the different models,again,matters not assessed easily.Perhaps as a result of this,and certainly because of the way the politics has played out,Australians are sceptical about the modelling results,with the Opposition leader stating openly that the carbon tax proposal is based on a lie.In this article we adopt a different approach.To single out the effects of a carbon tax,we constructed a single country comparative static CGE model.In companion,an environmentally extended micro-SAMs (Social Accounting Matrices)is developed.Based on the simula-tion results,this article endeavours to uncover the implica-tions of a carbon tax policy for the electricity industry.The balance of the article is organized as follows.Section II reviews previous studies on the effect of a carbon pricing policy on electricity industry.Section III describes the model structure and database for the simula-tions.Section IV presents and discusses the simulation results with special reference to electricity industry.The final section summarizes the results and provides some comments.II.Previous StudiesSince the electricity industry is one of biggest carbon dioxide emitter,many researchers have interests in the impact of a carbon pricing policy on the electricity sector and/or on the electricity market.However,most of them treat electricity as a special sector in the economy while a few studies provide detailed analyses on electricity sectors.Most studies adopt a CGE modelling ing a conventional energy-focused CGE model as well as an econometric model of household demand for energy goods,Labandeira et al .(2004)simulated a hypothetical tax reform in Spain with an introduction of a tax on carbon emission and a simultaneous reduction in social security contributions.Electricity is one of four energies in the model,which are combined by a constant-elasticity-of-substitution (CES)function to form composite energy.Their simulation shows that a carbon tax of 12.3euro per tonne of carbon dioxide would reduce carbon emission by 17.980megatonnes,of which the electricity sector contributes most (reduction of 4.968megatonnes).It is found that real GDP decreases by 0.7%,real capital income fall by 0.7%,the real labour income increases by 0.2%and the social welfare improved substantially –a 256million euro increase in equivalent variation in realterms.The electricity price is projected to rise by 3.3%while electricity production is to reduce by near 1%.Wissema and Dellink (2007)used a CGE model to quantify the impact in Ireland of the implementation of energy taxation to reduce carbon emission.They built a static model of a small open economy with 7energy commodities and 19other commodities.The production structure is a tree of nested production functions.The energy and primary inputs demand is described by multi-ple levels of two-input CES function,with elasticity of substitution values adopted from GTAP-E (Rutherford and Paltsev,2000)and Kemfert (1998).The electricity sector has a separate production tree.In this tree,the natural gas and oils are at the bottom of CES nest with a substitution elasticity value of 2.The renewable resource put in the second layer from the top with a large value of 10for substitution elasticity.The other elasticity values among energy inputs are very small,ranging from 0to 0.5.The simulation results suggest that the 25.8%reduction target for energy related carbon emissions in Ireland (com-pared to 1998levels)can be achieved with a carbon energy tax of 10to 15Euros per tonne of carbon dioxide,but the results are sensitive not only to the ability of fuel switching but also to the possibilities for producers to substitute away from energy.The output of electricity is projected to reduce by 7.5%under a carbon tax of 10Euros per tonne or 8%under an equivalent uniform energy tax.In comparing the effect of a carbon tax and an equiva-lent uniform energy tax,they concluded that,while the latter has stronger negative impact on less polluting energy sectors,the former generates a greater cuts in carbon emission,stimulates the use of renewable energy and reduces the use of peat and coal.In Australia,McDougall (1993)used an ORANI-E model (a CGE model developed by the Centre of Policy Studies at Monash University)to compare the effect of a carbon tax,an energy tax and fuel tax.The electricity was disaggregated into six types according to the electricity generation technol-ogy used.The model structure allows substitution between energy inputs,between capital and composite energy,and among electricity generation technologies.The rates of three taxes –tax on carbon emissions,tax on fossil fuel and tax on petroleum products are chosen in such a way that the rev-enue collected from each tax is equivalent to 0.5%of base case GDP .Based on the simulation results,it is concluded that,while a carbon tax would be the theoretically ideal instrument for carbon dioxide abatement,an energy tax applying to all fossil fuels would also be reasonably effec-tive.However,a tax on petroleum products is much less effective in cutting greenhouse gases and considerably more costly than either an energy or carbon tax.Based on the Monash Multi-Regional Forecasting (MMRF)model,the Centre of Policy Studies developed the MMRF-Green model to address the carbon-emissions issue in Australia.Although MMRF-Green is mainlyHow may a carbon tax transform Australian electricity industry?797D o w n l o a d e d b y [N o r t h W e s t U n i v e r s i t y ] a t 06:39 10 J a n u a r y 2016employed in analysing carbon-emissions trading (e.g.Allen consulting group,2000;Adams,2007),it is used in the Treasury modelling on carbon taxes,so it is brie fly discussed here.MMRF-Green is a dynamic,single coun-try,multi-regional model.There are 52industry sectors,56commodities and 8States (or 57sub-States).Each State has a single representative household and a regional gov-ernment.There is also a federal government.Not to change the CGE core substantially,the substitution effect between energy inputs,between electricity generations and between transports are realized through the different size of various input saving technological changes for each commodity.This is a clever alternative expression of substitution effect,but it is only workable in a dynamic model and in the long run.In a static simulation when technology is assumed unchanged,all these substitution effects will disappear.There are five emission activities.Four of them are involved with electricity sectors,namely emissions from combustion of black-coal,brown-coal,natural gas and petroleum products.The other one covers the emissions from fugitive and noncombustion agricul-tural sources.The emission data were obtained from the National Greenhouse Gas Inventory (NGGI)summary report by the Australian federal government.The global trade and environment model (GTEM)devel-oped by Australian Bureau of Agricultural and Resource Economics (ABARE)was also used in the Treasury model-ling.GTEM is a dynamic multi-country model,derived from the MEGABARE model (by ABARE)and the static Global Trade Analysis Project (GTAP)model (by Centre for Global Trade Analysis).The GTEM uses different production func-tions for electricity,and iron and steel industries.For these two sectors,the output is produced from an intermediate input bundle and a technology bundle using a Leontief func-tion.The intermediate input bundle is a Leontief combination of different kinds of goods,each of which is a CES combina-tion of domestic good and imported good and the latter in turn is a CES combination of imports from different regions.The technology bundle is formed by different kinds of tech-nology using a CRESH (constant ratio of elasticities of substitution,homothetic)function and each technology uses different technology inputs in fixed proportion (Leontief function).The CRESH function is similar to a CES function but it allows different elasticities of substitution between pairs of inputs.For other industries,the producer output is a Leontief combination of the intermediate input bundle and the energy factor bundle.The former is a three-layer CES combination of different goods while the latter is a CES combination of the primary factor bundle and energy bundle.The primary factor bundle includes capital,labour,land and natural resources,and the energy bundle includes coal gas,petroleum products and electricity.Both bundles are formed by CES functions.The data in GTEM are mainly from the GTAP database,but data on carbon emissions from fossil fuel combustion are sourced from the InternationalEnergy Agency (IEA)and data on noncombustion emissions is compiled from the United Nations Framework Convention on Climate Change ’s (UNFCCC)national inventory figures for individual countries,or estimated by ABARE.To accompany the proposed carbon tax in Australia,the Treasury conducted large-scale carbon price modelling.The Treasury modelling is very ambitious and complex.It con-sists of a number of models.The GTEM is employed to provide the international economic and emissions context for modelling of the Australian economy.The MMRF is used to project the national,regional and sectoral impact of carbon taxes.With the world carbon price paths being set,the model for the assessment of greenhouse-gas-induced climate change (MAGICC)is used to estimate the green-house gas atmospheric concentration levels.The ROAM model by ROAM Consulting and the SKM MMA model by the Sinclair Knight Merz (SKM)group are used to provide detailed bottom-up information of the Australian electricity generation sector.The energy sector model (ESM)by the Commonwealth Scienti fic and Industrial Research Organisation (CSIRO)is used to model the road transport sector.The price revenue incidence simulation model and distribution model (PRISMOD.DIST)are used to examine the distributional implication of carbon pricing for households.The modelling framework and results are included in the Treasury report:Strong growth,low pollution –modelling a carbon price (The Treasury,2011).Overall,the Treasury modelling results with two starting carbon prices in 2012–2013($20and $30)are very positive:the economy continues to grow strongly and carbon emissions are reduced substantially.It is projected that,without a carbon tax,Australian gross national income (GNI)per person by 2050is around 60%higher and emissions are 74%higher than in 2012;with a carbon price,the GNI per person is at least 56%higher and the emissions fall by 80%.In the core policy scenario (starting carbon price in 2012–2013at $20),around 1.6million jobs are projected to be created in 2020and a further 4.4million in 2050;average weekly household expenditure will be higher by around $9.90in 2012–13,of which electricity accounts for around $3.30and gas around $1.50.A few researchers have studied carbon pricing and electricity industry using other methods.Green (2007)uses a supply function model to simulate the impact of carbon tax and carbon permits on the pro fits of electricity generation.It is concluded that the carbon tax reduces the volatility faced by nuclear generators,but raises that faced by fossil fuel ing an uncertainty model,Chen and Tseng (2011)explore the optimal investment timing when a coal-fired plant owner considers introducing clean technologies in the face of carbon tax or tradeable emis-sion permits.They claim that tradable permits could effec-tively trigger adopting clean technologies while carbon tax is likely to delay clean technology ing a dynamic partial equilibrium model of the power system –798S.MengD o w n l o a d e d b y [N o r t h W e s t U n i v e r s i t y ] a t 06:39 10 J a n u a r y 2016NEMESYS,Simshauser and Doan (2009)assess the adverse economic impact of an all-auction approach to emissions trading on the electricity generators.It is claimed that once CO 2prices exceed $17.50per tonne,the marginal coal generator will withhold generating capa-city to raise prices and recoup stranded investment,thus becoming a ‘wounded bull ’.This would result in an inter-mediate-run 300%increase in wholesale power prices.III.Model Structure and DatabaseBecause the purpose of this study is to assess the effect of a carbon tax policy,instead of forecasting the performance of the whole economy over time under the tax,the model developed for this study is a static CGE model,based on ORANI-G (Horridge,2000).The comparative static nat-ure of ORANI-G helps to single out the effect of carbon tax policies while keeping other factors being equal.The model employs standard neoclassical economic assump-tions:a perfectly competitive economy with constant returns to scale,cost minimization for industries and uti-lity maximization for households,and continuous market clearance.In addition,zero pro fit conditions are assumed for all industries because of perfect competition in the economy.The Australian economy is represented by 35sectors which produce 35goods and services,1representative investor,10household groups,1government and 9occu-pation groups.The final demand includes household,investment,government and exports.With the exception of the production function,we have adopted the functions used in the multi-households version of ORANI-G.Overall,the production function is a five-layer nested Leontief –CES function shown in Fig.1.As in the ORANI model,the top level is a Leontief function describing the demand for intermediate inputs and composite primary factors and the remainder are various CES functions at lower levels.However,the treatment with energy inputs,especially the electricity,is very different from the ORANI model.The author describes only the treatment of energy and emission here due to the limitation of space.For a full description of the model,readers are referred to the Appendix of this article.Energy inputs are treated the same as other intermediate inputs in the ORANI model.They are treated differently in this model because most of them are emission intensive and thus essential to a model concerning the impact of a carbon tax.We argue that energy ef ficiency is positively related to the investment on energy-saving devices,e.g.well-insulated housing uses less energy for air-condition-ing.So we assume that there are limited substitution effects between energy goods and capital.We also assume that the size of substitution effect depends on the cost andthe availability of energy-saving technology,which is re flected in the value of the substitution elasticity.Speci fically,at the bottom level,CES functions are used to combine black-coal and brown-coal to form composite coal,oil and gas to form composite oil and gas,automobile petrol,kerosene,LPG and other petrol to form composite petroleum.At the second level,composite coal,oil and gas,petroleum and commercial electricity are combined by a CES function to form composite energy.At the third level,a CES function is used to combine composite energy and capital to form capital-energy composition.At the fourth level,a CES function is used to combine capital-energy composition,labour and land to form the primary factor.At the fifth level (top level),the primary factor,electricity generation and general intermediate inputs are combined by a Leontief function to create sectoral output.Similar treatment of energy inputs has been used by many researchers such as Burniaux et al .(1992),Zhang (1998),Ahammad and Mi (2005)and Devarajan et al .(2009).The electricity industry is extremely important for the modelling because it accounts for a bulk of total emission in the economy.There is only one sector –electricity supply –in ORANI model as well as in the Australian input –output tables.This sector is disaggregated to six sectors in this study:black-coal electricity,brown-coal electricity,oil electricity,gas electricity,renewable elec-tricity and commercial electricity.The first five sectors are five types of the electricity generation sectors named according to the energy sources used,namely black-coal,brown-coal,oil,gas and renewable resources.The last sector is the electricity distributor.Since it is assumed that the electricity distributor purchases electricity from various electricity generators at wholesale prices and sells to final users,it is named ‘commercial electricity ’because it is the only commercially available electricity for users.Since the commercial electricity is widely used by almost all sectors,it is treated as a component of composite energy.Different types of electricity generation are the intermediate inputs for electricity distributor,so they should be put alongside the intermediate inputs.Once generated,the electricity commodity is homogeneous,so there must be a large substitution effect among five types of electricity generation.Hence we use a CES function to form a composite electricity generation which is in a position alongside the intermediate inputs,instead of put-ting each type of electricity generation in the top level of Leontief function as Adams et al .(2000)did.In this approach,we allow the electricity generation to shift from high carbon-emission generators (e.g.brown-coal electricity)to low carbon-emission generators (e.g.gas and renewable electricity).Carbon emissions in the model are treated as propor-tional to the energy inputs used and/or to the level of activity.Based on the carbon emissions accounting results published by the Department of Climate Change andHow may a carbon tax transform Australian electricity industry?799D o w n l o a d e d b y [N o r t h W e s t U n i v e r s i t y ] a t 06:39 10 J a n u a r y 2016Energy Ef ficiency,we treat carbon emissions in three different ways.First,the stationary fuel combustion emis-sions are tied with inputs (the amount of fuel used).Based on the emissions data,the input emission intensity (the amount of emissions per dollar of inputs)is calculated as a coef ficient,and then the model computes stationary emis-sions by multiplying the amount of input used by the emission intensity.Second,the industry activity emissions are tied with the output of the industry.The output emis-sion intensity coef ficient is also pre-calculated from the emission matrix and it is multiplied by the industry output to obtain the activity emissions of the industry.Third,the activity emissions by the household sector are tied to the total consumption of the household sector.The total con-sumption emissions are obtained by the amount of house-hold consumption times the consumption emission intensity coef ficient pre-calculated from the emission matrix.All three types of emission intensities are assumed fixed in the model to re flect unchanged technology and household preferences.The functions for final demands are similar to those in the ORANI model (Dixon et al .1982).For example,the investment demand is a nested Leontief –CES function,the household demand function is a nested linear expen-diture system (LES)-CES function.Export demand is dependent on the price of domestic goods,and govern-ment demand follows household consumption.However,unlike the assumption of exogenous either total or super-numerary household consumption in ORANI-G,we assume that total consumption is proportional to total income for each household group.The main data used for the modelling include input –output data,carbon-emission data and various behaviour parameters.The input –output data used in this study are from Australian input –output Tables 2004–2005,pub-lished by ABS (2008a ).There are 109sectors (andGood 1Good GElectricity generation CES CES CES Domestic Good 1Gaselectricity Renewable electricity Imported Good 1Domestic Good G Imported Good G up toLeontiefBrown coal electricity Oil electricity Black coal electricity Group 1 Group 9Composite energyCapital CES CESBlack coal Other petrol Brown coal Kerosene LPG Auto petrol CESCommercial electricityComposite oil and gasComposite petroleumCompositecoalOil Gas Capital + energyPrimary factor +energyCESLand LabourCESCESCESCO 2 emissionCO 2emissionCO 2emissionCO 2emission CO 2emissionCO 2emissionCO 2 emissionCO 2emissionActivity emissionActivity level Fig.1.The structure of production function800S.MengD o w n l o a d e d b y [N o r t h W e s t U n i v e r s i t y ] a t 06:39 10 J a n u a r y 2016commodities)in the original I –O tables.For the purpose of this study,we disaggregate the energy sectors and aggre-gate other sectors to form 35sectors (and commodities).Utilizing the household expenditure survey data by ABS (2006a,b),the household income and consumption data were disaggregated to 10household groups according to income level and,using the data from the 2005–06census of population and housing by ABS (2009),labour supply was disaggregated to 9occupational groups.All these data are integrated into a micro SAM and the macro SAM as shown in Table 1(see Appendix for more details on construction of SAM).The disaggregation of electricity supply is important and thus displayed here.It involves two kinds of dis-aggregation:vertical disaggregation and horizontal dis-aggregation.In reality,the electricity supply consists of electricity generation,electricity distribution and electri-city transmission.According to the market research by IBISworld (2011),the total revenue for these three industries in 2006–2007is $14.6billion,$34.5billion and $2.46billion,respectively.Since the revenue of electricity transmission is relatively small,we merge it into electricity distribution to form a new aggregate electricity distribution and we intend to disaggregate the electricity supply vertically into electricity genera-tion and electricity distribution (electricity transmission included).The vertical disaggregation in the absorption matrix is shown in the left panel of Fig.2.To start with,we disaggregate electricity supply industry into electri-city distribution-(I)and electricity generation-(I).Since all energy inputs (brown-coal,black-coal,oil and gas)are supposed to be used for electricity generation,we allocate all of them to the electricity generation sector.According to IBISWorld (2011),the electricity genera-tion should account for 14.6/(34.5+2.46)=39.5%of total electricity supply revenue.Thus we allocate the rest of inputs for electricity generation proportionally from the electricity supply so that the total input for the electricity generation is 39.5%of the total input of the electricity supply.The remaining value in electricity supply constitutes the inputs for electricity distributor.As such,we should find A =B +C in the graph.Next,we disaggregate electricity supply commodity into two commodities:electricity generation (C)and electricity distribution (C).We copy all the values in electricity supply-(C)row to electricity distribution-(C)because all electricity supply should be distributed by the electricity distributor.It looks like there is nothing left for electricity generation-(C)row.All the values in this row should be zero except at point E.The value at E means the amount of electricity sold to the electricity distributor by the electricity generator.Since the electricity generator is supposed to sell all its electricity to the distributor,we put the value of the total output (or total input,due to the zero economic pro fit assumption)of electricity generation at point E.As such,the total input for electricityT a b l e 1.2004–2005m a c r o -S A M o f A u s t r a l i a ($A m )P r o d u c t i o n a c t i v i t i e sF a c t o r o f p r o d u c t i o nI n c o m e a c c o u n t sC a p i t a l f o r m a t i o nI n d u s t r yC o m m .P r o d .t a xC o m .t a xL a b o u rC a p i t a lH o u s e h o l dG o v .C o r p .e x t e r n a lC a p i t a l f o r m a t i o n N o n flo wT o t a l r e c e i v e dP r o d u c t i o n a c t i v i t i e s I n d u s t r y 17362961727435C o m m o d i t y 9000864746931624991602562230391911712P r o d u c t i o n t a x 260161251938535C o m m o d i t y t a x 143504633413951370275781F a c t o r o f p r o d u c t i o n L a b o u r 4311181127432245C a p i t a l 364726364726I n c o m e a c c o u n t s H o u s e h o l d 43091414506516469255896240393766816G o v e r n m e n t 3853575781156451214112260575761363312571C o r p o r a t i o n 20401680634515755836224591330369432E x t e r n a l 18427713311004842558646579249897C a p i t a l f o r m a t i o n C a p i t a l f o r m a t i o n 41094367361039165632510282248353N o n flo w 1330T o t a l e x p e n d i t u r e172743519117123853575781432245364726766816312571369432249897248353How may a carbon tax transform Australian electricity industry?801D o w n l o a d e d b y [N o r t h W e s t U n i v e r s i t y ] a t 06:39 10 J a n u a r y 2016。
