As a nation on the frontline, Bangladesh should build support for co-ordinated action
Today’s global People’s Climate March sends an important signal to world leaders gathering for the UN Climate Summit on September 23.
With evidence growing of the speed of climate change, Bangladesh faces huge threats as rising water levels may permanently inundate entire districts of our low-lying country.
As a nation on the frontline, Bangladesh should take a lead in supporting proposals for globally coordinated taxes on the use of fossil fuels.
Without a worldwide clean energy revolution to reduce per capita growth in greenhouse emissions and to provide more sustainable sources for economic growth, our ability to adapt and improve resilience will be severely compromised.
Economists and environmental scientists have argued that every country needs to start taxing the consumption of fossil fuels. Taxes on fossil fuels would make renewable energy more competitive in comparison to fossil fuels and stimulate investment in renewable energy to reduce the world’s reliance on fossil fuels.
There is a widespread misconception that taxes on fossil fuels would be unpopular as they would reduce the purchasing power of consumers. However such taxes can be imposed in a “revenue-neutral” manner, by reducing other consumption taxes like VAT and import duties, when taxes are imposed on fossil fuels.
Moreover in a Bangladeshi context, we could actually save much taxpayer money by cutting wasteful subsidies on power and gas. These funds could be freed for investment in education and development.
Our government must work to cut our own dependence on fossil fuels. It should also use this global forum to bolster support for co-ordinated international action.
Source: Dhaka Tribune
