Climate Clubs: An International Tax Law Perspective

• Autores: Alice Pirlot
• Localización: Intertax, ISSN 0165-2826, Vol. 52, Nº. 2, 2024, págs. 104-117
• Idioma: inglés
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• Resumen

  • Global carbon pricing has often been portrayed as an interesting idea that will never be implemented due to political hurdles. Yet, this description is being challenged: growing political support for climate clubs suggests that a global carbon price might become reality in the future. This article investigates the conditions for the adoption and implementation of a climate club based on a global carbon price by comparing it to the international corporate tax club created by Pillar Two, which was also described as politically impossible a few years ago. This comparison highlights that establishing a climate club will require addressing design issues and institutional obstacles that might be even more complex than those that characterized the negotiations of the global anti-base erosion (GloBE) rules.