The article discusses the challenges of achieving environmental sustainability and climate resilience, particularly for developing countries with limited resources. The authors, Mukesh Butani and Pranoy Goswami, argue that tax policies need to be changed to address environmental issues such as pollution, desertification, and climate change. They highlight the difficulties faced by low-income countries, including limited industrial capacity and lack of environmentally friendly industries. The authors suggest that advanced economies can help alleviate these challenges by taking effective action.
The article also discusses the importance of international cooperation and the need for developing countries to prioritize environmental issues. The authors recommend that developing countries, such as India, adopt a “Pareto efficiency” approach to maximize social benefits while balancing costs. They also suggest that India can capitalize on its growth to develop a framework for environmental taxes, which would put it at the forefront of global environmental tax development. The authors conclude that a global approach to environmental taxation is necessary to address the pressing issue of climate change. They highlight the need for international cooperation and the importance of prioritizing environmental issues, particularly for developing countries.
Source: https://law.asia/india-environmental-taxation-leadership-global-sustainability/
