A way to save global economy

Member of the Bank’s Monetary Policy Committee of England Catherine Mann on the online conference of the European Investment Bank stated that he considers worldwide carbon emissions tax with an effective way to sharp global economic growth. It is reported by Bloomberg.

The representative of the Bank of England finds the introduction of a carbon tax “Holy Grailer”. In her opinion, the measure will help not only reduce the volume of greenhouse gas emissions, which is important for the rescue of the planet, but also to stimulate investment activity, as well as to come to a significantly “higher level of economic indicators in the medium term.”

In the last decade after a sharp rise against the background of the development of digital technologies in the 1990s, the growth rate of the global economy slowed down, which causes concern of economists around the world. The British regulator believes that for their growth in the near future, all States need to focus on creating new sectors of the economy that will be aimed at carbon neutrality, as well as on changing consumer behavior. Otherwise, according to Mann, the goal will remain unattainable.

Carbon emissions have a significant negative impact on global warming. Last year, as a result of the negotiations on the climatic summit, a carbon unit exchange system was introduced in Glasgow, within which countries can share their quotas with each other.

Since the adoption of the Kyoto Protocol in 1997, the carbon emission initiatives appeared in 65 states, but the system works point and does not cover all existing sectors of the economy.

/Media reports.