As governments face up to the challenge of moving towards a low-carbon economy in the midst of a recession, the tax system "can be a powerful device for changing behaviour," argues the Association of Chartered Certified Accountants (ACCA) in an August policy paper.
The Commission will on 28 March 2007 present ideas for 'green taxes' to save energy and cut greenhouse-gas emissions. It says that such an ecological tax reform could increase the bloc's competitiveness by shifting the burden away from labour taxes.
On 13 March, the European Commission issued a report that describes the potential of green technology, identifies the present market barriers, and gives directions for future actions. The report is a first step towards a Community action plan for environmental technology, which is expected before the end of 2002.