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COALIZIONE PER IL CLIMA Legambiente , Roma 23 febbraio 2019

COALIZIONE PER IL CLIMA Legambiente , Roma 23 febbraio 2019. Seminario sulla “Giusta Transizione” “come finanziare la transizione” (sussidi ai combustibili fossili, tassazione ambientale, fonti europee, …). Aldo Ravazzi Douvan

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COALIZIONE PER IL CLIMA Legambiente , Roma 23 febbraio 2019

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  1. COALIZIONE PER IL CLIMA Legambiente, Roma 23 febbraio 2019 Seminario sulla “Giusta Transizione” “come finanziare la transizione” (sussidi ai combustibili fossili, tassazione ambientale, fonti europee, …) Aldo RavazziDouvan Chair OECD Working Party on Environmental Performance (Country Reviews); Past-Chair OECD WP on Taxation & Environment; Past-Chair OECD WP on Integration of Environmental & Economic Policies; Past-Chair OECD WP on Biodiversity, Water & Ecosystems. President GREEN BUDGET EUROPE at EEB – EuropeanEnvironmental Bureau ChiefEconomist DG SustainableDevelopment & International Affairs - A.T. Sogesid ItalianMinistryofEnviroment, Land & Sea Segreteria Tecnica Comitato Capitale Naturale e OIFS Osservatorio Italiano Finanza Sostenibile

  2. Tassazione Ambientale e Riforma Fiscale Ambientale • GFR: Green/Environmental/Ecological Tax/Fiscal Reforms • LevelofEnvironmentaltaxationstill low (1-5% of GDP, 2-14% of Total Revenues); wide margins; shiftingtax-bases; • Distributionproblems can besolved (incometax, direct s.) • Removing EHS EnvironmentallyHarmfulSubsidies (FossilFuelSubsidiesbutnotonly: Nuclear, Water, Waste, Transport, Land, …) • Introducing EFS EnvironmentallyFriendlySubsidiesmustbedoneefficientlybutisjustifiablefor a transitionperiod • Environmentaltaxes do notdistort the market, theyrestore fair market conditions (transparency, competition, economicefficiency, levelplayingfield)

  3. Catalogo Sussidi Ambientalmente Dannosi e Ambientalmente Favorevoli • GFR: Green/Environmental/Ecological Tax/Fiscal Reforms • LevelofEnvironmentaltaxationstill low (1-5% of GDP, 2-14% of Total Revenues); wide margins; shiftingtax-bases; • Distributionproblems can besolved (incometax, direct s.) • Removing EHS EnvironmentallyHarmfulSubsidies (FossilFuelSubsidiesbutnotonly: Nuclear, Water, Waste, Transport, Land, …) • Introducing EFS EnvironmentallyFriendlySubsidiesmustbedoneefficientlybutisjustifiablefor a transitionperiod • Environmentaltaxes do notdistort the market, theyrestore fair market conditions (transparency, competition, economicefficiency, levelplayingfield)

  4. Come finanziare e Finanza Verde • Rapporto Italia-Unep 2016 - 18 raccomandaz. • G7 Ambiente Italia • OIFS (4 gruppi di lavoro) (partecipanti) • CIFS • FC4S • Strategia Europea Finanza Sostenibile • Piano d’Azione UE – 10 priorità • TEG e GEG della EC • Proposte Direttive su Tassonomia Investimenti, Benchmarking Green Bonds, Disclosure

  5. EPRs and the support to Resource Efficiency • 3Rs (Reduce, Reuse, Recycle) • RE Resource Efficiency • CE Circular Economy

  6. 3Rs – CE – RE • 3Rs (Reduce, Reuse, Recycle) – Japan – G8 • Waste Hierarchy - EU • Material and energy flows, Resource Productivity and Resource Efficiency Council Recommendations, Sustainable materials management - OECD • Circular Economy - China • Zero-Waste or Low-Waste Economy or Sound Material Cycle Economy - Japan • Cleaner Production and Technologies - Usa • Sustainable Production & Consumption Models - UNEP-CSD • Product design, Life cycle assessment • From Cradle to Cradle • Extended Producer Responsibility • Green Purchasing Procurement • Factor 4 policies

  7. EPRs and OECD supportto the global agenda • Paris Agreement on Climate Change (UN-FCCC, December 2015) • SDGs and Agenda 2030 (UN, September 2015) • 17 Sustainable Development Goals, 169 SD Targets, ca. 232 SD Indicators by UN-Stats (OECD role as “guardian”) • Biodiversity and Aichi Targets for 2020 • Oceans • - Economic analysis for Climate Change and decarbonisation • - First analysis of where OECD countries stand in SDGs • - Setting up an OECD Green Finance Centre • - Work on data: 100B$ climate, TOSSD, biodiversity, SDGs

  8. OECD supporting the global agenda • CarbonPricingPrinciples (WB and OECD) • Washington, April 2016, First GeneralAssemblyof the • CPLC (CarbonPricing Leadership Coalition) • Ban-Ki-Moon UN • Lagarde IMF • Kim WB • Royal UNFCCC COP Chair • “A big fatcarbon price” OECD SG Angel Gurrìa • Allusing the sameconceptswe’ve beensaying at OECD with Barde, Potier, Avérous, Pearce, Gerellifor 30 years

  9. EPRs in OECD Core Business • OECD CORE BUSINESS • Economic Instruments for Environmental Policy • Data, statistics, indicators • Policy analysis and assessment • Peer Reviews: • e.g. Economic Surveys and EPR (Environmental Performance Reviews) under SG responsibility • + • Economic Analysis for Environmental Policy • Environmental Integration in Economic Policy

  10. EPRsobjectives • OECD EPRs • Learning from country experiences and exporting best practices • Accountability, responsibility, transparency (declaring national and international objectives, measuring performance) • Encouraging one another to adopt the ambitious and efficient policies we need for environment, green growth and sustainable development

  11. EPRslinkedto OECD Principles • Prevention Principle • Precautionary Principle • Correction, with priority at source, of damage • Integration P. (of environmental policies into economic-financial-fiscal policies and into sector policies e.g. agriculture-energy-transport) • Polluter-Pays-Principle and User-Pays-Principle • Sustainable Development • (transposed in EU Treaties...)

  12. A global nature of OECD • Many EU Countries (23 out of 28) • but EU deciding day-to-day Directives & Regulations • OECD Research Centre of Governments preparing the future • OECD wider approach: • -European non-EU Countries: Turkey-Israel-Iceland-Switz- Norw. • Pacific countries: Japan-S.Korea-Australia-N.Zealand • American countries: Usa-Can-Mex-Chile (+Colombia +C.Rica) • Key Partners: Brazil-China-India-Indonesia-Russia*-S.Africa • OECD Council Decisions and “compulsory” (10%?) • (e.g. ODA; anticorruption and antibribery, transparency and off shore financial regulation; chemicals, transboundary movement of waste) • OECD work is analysis, dialogue, exchange of experiences (90%?) • Major Challenge for the future: taking more common action together (37 market-based advanced-industrialised democracies)

  13. 28 yearsof OECD EPR betweenflexibility, comparability and fairness • Italy  2013, 2002, 1994 • Japan2010, 2002, 1994 • Korea2017, 2006, 1997 • Latvia 2019 • Luxembourg2010, 2000 • Mexico 2013, 2003, 1998 • Netherlands2015, 2003, 1995 • New Zealand2017, 2007, 1996 • Norway2011, 2001, 1993 • Peru** 2017 • Poland2015, 2003, 1995 • Portugal2011, 2001, 1993 • Russia** 1999 • Slovak Republic 2011, 2002 • Slovenia 2012 • South Africa** 2013 • Spain2015, 2004, 1997 • Sweden2014, 2004, 1996 • Switzerland2017, 2007, 1998 • Turkey2019, 2008, 1999 • United Kingdom 2020, 2002, 1994 • USA 2005, 1996 • Australia 2019, 2007, 1998 • Austria 2013, 2003, 1995 • Belarus** 1997 • Belgium2007, 1998 • Brazil** 2015 • Bulgaria** 1996 • Canada 2017, 2004, 1995 • Chile 2016, 2005 • China** 2007 • Colombia** 2014 • Czech Republic 2018, 2005, 1999 • Denmark 2019, 2007, 1999 • Estonia 2017 • Finland  2009, 1997 • France 2016, 2005, 1997 • Germany2012, 2001, 1993 • Greece2009, 2000 • Hungary2018, 2008, 2000 • Iceland 2014, 2001, 1993 • Ireland2010, 2000 • Indonesia** 2019 • Israel 2011 MemberCountries, Access Countries, Key Partners Turkey 97th EPR 3 cyclesalmostcompleted: 1992-2000; 2001-2009; 2010-2020

  14. NextReviews • Reviews to be published in 2019:  • Turkey, • Indonesia**, • Latvia • Denmark. • Reviews to be published in 2020: • United Kingdom, • Argentina**, • Luxembourg and • Greece.

  15. PeerReviewing • Supported by: • the structure of the Peer Review Team: it is made of OECD experts from Paris Headquarters and of indicatively 3 experts from other OECD Member Countries (sometimes you are reviewed, sometimes you review …) • the discussion of the whole Report in a Plenary meeting in the OECD WPEP Committee in Paris • the approval of the chapter with Assessment & Recommendations by all Member Countries together, including the Reviewed Country •  It is a review among Peers

  16. Beinginfluential … • Being useful: • to the country encouraging it to adopt ambitious and feasible environmental policies, suggesting practical approaches and policies • to the global community to understand a country and its policies, encouraging it to contribute to common global policies, say climate, biodiversity, resource efficiency, SDGs, oceans, … • to other countries by identifying best practices and experiences in the reviewed country, that are exportable and replicable in other economies

  17. EPRs link toGrowth, Development & Welfare Growth Development Welfare Sustainable Development - UN Développement Durable - France/Québec/FR Green Growth - OECD Green Economy - UNEP Harmonious Society - China Sustainable Prosperity - Canada Prosperity without growth - Tim Jackson UK SD Commission Limits to Growth - Club of Rome Planetary Boundaries - Rockstroem Sustainable Economy - UK against (eq. to assisted economy) Degrowth - Smart Degrowth - Happy Degrowth - Serge Latouche Sustained Growth - LDCs - WB

  18. EPRs link to Policy Instruments • Instrumentsfor EP-GG-SD • (Environmental Policy – Green Growth – SustainableDevelopment) • Regulatory Instruments • Voluntary Instruments • Economic Instruments • EconomicInstrumentsfor EP-GG-SD • Environmental Taxes or Taxes with an environmental impact • Environmental Fees/Charges/Tariffs • Deposits systems • Creation of markets where they do not exist (e.g. ETS-Insurance-GPP) • Sanctions-penalties

  19. 10 Planet Ecosystems tobekept under control: 1. Climate change 2. Biodiversity loss 3. Nitrogen cycle 4. Phosphorus cycle 5. Stratospheric ozone depletion 6. Ocean acidification 7. Global freshwater use 8. Land system change 9. Atmospheric aerosol loading 10.Chemical pollution PLANETARY BOUNDARIES

  20. Il Catalogo dei Sussidi amabientalmente dannosi e dei sussidi ambientalmente favorevoli • Why the Catalogue • Definition of environmental subsidies and their identification in the international literature • Methodology adopted in the Catalogue • Overview of the Catalogue’s main results • Subsidies on biodiversity in the framework of the Catalogue • Main recommendations and policy suggestions • What is missing? What further subsidies to further analyze in future editions? Fiscal Instruments for Biodiversity in Europe and Beyond- Vilm - 28-30 May 2018

  21. Overview • Why the Catalogue • Definition of environmental subsidies and their identification in the international literature • Methodology adopted in the Catalogue • Overview of the Catalogue’s main results • Subsidies on biodiversity in the framework of the Catalogue • Main recommendations and policy suggestions • What is missing? What further subsidies to further analyze in future editions? Fiscal Instruments for Biodiversity in Europe and Beyond- Vilm - 28-30 May 2018

  22. International recommendations G20 (Seul - November 2010): “rationalize and phase out over the medium term inefficient fossil-fuel subsidies that encourage wasteful consumption”. G7 (Ise-Shima - 26-27 May 2016): “Given the fact that energy production and use account for around two-thirds of global GHG emissions, we recognize the crucial role that the energy sector has to play in combating climate change. We remain committed to the elimination of inefficient fossil fuel subsidies and encourage all countries to do so by 2025.” Fiscal Instruments for Biodiversity in Europe and Beyond- Vilm - 28-30 May 2018

  23. OECD recommendations • Removal or reform of EHSs, in particular phasing-out FFS (OECD, 2015). • Warning on «inertia»: in OECD countries, 2/3 of EHSs introduced before the year 2000 (OECD, 2015). • Starting at the end of the 90s, OECD developed different methodological tools to identify EHSs: • Quickscan(1998) • Checklist (2005) • Integrated assessment framework (2007) Fiscal Instruments for Biodiversity in Europe and Beyond- Vilm - 28-30 May 2018

  24. OECD recommendations/2Italy - Environmental Performance Reviews - 2013 • Introduce a systematic monitoring system of (current and in the pipeline) direct and indirect subsidies, in view of their potential environmental impact; • Pursue the promotion of renewable energy in the framework of a national energy strategy, guarantee the consistency of incentives and their relative regulatory framework and adapt them to the decrease in costs of green technologies connected to renewable energy; • Rationalize the incentives for energy efficiency and ensure that existing subsidies contribute to the abatement of entry barriers in a cost-effective manner; encourage the use of white certificates, and expand them, especially to the transport sector; Fiscal Instruments for Biodiversity in Europe and Beyond- Vilm - 28-30 May 2018

  25. European Semester • Develop a fiscal framework that promotes sustainable development and pursue the «polluter-pays-principle», leveraging investments in energy efficiency, and encouraging durability and reparability of goods; • Gradually remove environmentally harmful subsidies, including fossil-fuel subsidies, and shift taxation from income to pollution and natural resources. Fiscal Instruments for Biodiversity in Europe and Beyond- Vilm - 28-30 May 2018

  26. International think tanks recommendations • Green Budget Europe: Reform EHS, remove FFS and introduce a carbon tax; shift the fiscal burden from labour and firms towards pollution and natural resources • IEEP for the European Commission: Roadmap for the removal of EHSs: • Need for high quality and transparent data; • Do not act in isolation; • Build a coalition; • GSI - Resources for the Future - World Resources Institute - Worldwatch Inst. - Earth Policy Inst. - Sustainable Prosperity • Planetary Boundaries - Club of Rome - Factor 4/5 • Wuppertal - GBG-Foes - IDDRI - French Green Fiscal Commission - UK Green Fiscal Reform Commission - FondazioneSviluppoSostenibile Fiscal Instruments for Biodiversity in Europe and Beyond- Vilm - 28-30 May 2018

  27. Overview • Why the Catalogue • Definition of environmentally subsidies and their identification in the international literatures • Adopted methodology in the Catalogue • Overview of the Catalogue’s main results • Subsidies on biodiversity in the framework of the Catalogue • Main recommendations and policy suggestions • What is missing? What further subsidies to deepen in future editions? Fiscal Instruments for Biodiversity in Europe and Beyond- Vilm - 28-30 May 2018

  28. A subsidy is… Definition of subsidy Fiscal Instruments for Biodiversity in Europe and Beyond- Vilm - 28-30 May 2018

  29. A subsidy is… In our catalogue: …a measure that keeps prices for consumers below market levels, or prices for producers above market levels, or that reduces costs for producers and consumers through direct or indirect support (Source: OECD) EFS (Environmentally Friendly Subsidies) EHS (Environmentally Harmful Subsidies) Fiscal Instruments for Biodiversity in Europe and Beyond- Vilm - 28-30 May 2018

  30. Subsidies' classification Fiscal Instruments for Biodiversity in Europe and Beyond- Vilm - 28-30 May 2018

  31. Estimate of EHS (fossil fuels) in the world The goal of EHSs identification is to remove or, at least, reform them in order to assure an efficient use of resources. Their removal may allow for example the reduction of income and corporate taxes. • Some estimates: • OECD and IEA (2018): 370-620 billion $/year for the years 2010-2015 for fossil fuels (76 Countries); • IMF: in 2011, 492 billion $ for fossil fuels (150 Countries); Fiscal Instruments for Biodiversity in Europe and Beyond- Vilm - 28-30 May 2018

  32. National experiences (1) UK 2013 The report of the Parliament on «energy subsidies in UK» total energy subsidies: 12,7 billions of GBP Ireland 2010 EEA Study on the potential reform of environmental taxation: up to € 5 bn of extra revenue in 2015 (+ € 1 bn for EHS removal) France 2012 “Sainteny report” identifies EHS linked to biodiversity (estimate: € 3 billions in 2010) Germany 2007reform for a phasing out of coal subsidies within 2018 2014 EHS report: € 52 billions in 2010 (including guarantee schemes and implicit subsidies) 2017 G20: 22 subsidies totalling € 14,9 bl. Fiscal Instruments for Biodiversity in Europe and Beyond- Vilm - 28-30 May 2018

  33. National experiences (2) Portugal 1995-2010 environmental taxation: 11,5% to <5% of total fiscal revenue 2010 EEA Study on potential reform of environmental taxation: In 2016, environmental taxation + € 2,2bn (+€0,2bn from additional VAT + €0,7bn from EHS removal) Mexico 2014 Starting of energy reform and introduction of a carbon tax on fuels (except natural gas and kerosene for aviation) 2016  Removal of fuel subsidies through the introduction of fixed excise tax on fuel for transport 2017G20: 10 subsidies totalling $ 2,6 bl. USA 2016 First National Report on fossil fuels (G20): 17 inefficient fossil fuel subsidies worth US$ 8,2 bl/yr China 2016 First National Report on fossil fuels (G20): 9 inefficient fossil fuel subsidies worth US$ 14,5 bl/yr Fiscal Instruments for Biodiversity in Europe and Beyond- Vilm - 28-30 May 2018

  34. Overview • Why the Catalogue • Definition of environmentally subsidies and their identification in the international literatures • Methodology adopted in the Catalogue • Overview of the Catalogue’s main results • Subsidies on biodiversity in the framework of the Catalogue • Main recommendations and policy suggestions • What is missing? What further subsidies to deepen in future editions? Fiscal Instruments for Biodiversity in Europe and Beyond- Vilm - 28-30 May 2018

  35. The international literature: how do we identify an environmental subsidy? OECD: • PSR approach (then DPSIR )(1993) • Quickscan (1998) • Checklist (2005) • Integrated assessment framework (2007) European Commission: • EHS reform tool (2009) Fiscal Instruments for Biodiversity in Europe and Beyond- Vilm - 28-30 May 2018

  36. The international literature: how do we quantify an environmental subsidy? (2) IMF/IEA: • Price gap approach IEEP/IISD: • Resource Rent European Commission / EEA: • Marginal Social Cost • Externalities Fiscal Instruments for Biodiversity in Europe and Beyond- Vilm - 28-30 May 2018

  37. How did we classify our subsidies: EFS, EHS, ENS, Uncertain • EFS (EU-Eurostat/UN-SEEA definition): current transfer that is intended to support activities which protect the environment or reduce the use and extraction of natural resources • EHS : Scientific literature review • Uncertain: Unclear environmental impacts. Further investigations are needed • ENS: If reformed, potential positive impacts Fiscal Instruments for Biodiversity in Europe and Beyond- Vilm - 28-30 May 2018

  38. Estimated financial effects in international Catalogues and Reports • Foregone revenue: Budget loss (increase) due to the introduction (removal) of a subsidy (e.g. Ceriani, 2011). • Price elasticities: Includes the reaction of beneficiaries and taxpayers to the price variation. • Equivalent variation: The variation of the tax expenditure in current transfers that would keep the beneficiaries’ welfare unchanged. Fiscal Instruments for Biodiversity in Europe and Beyond- Vilm - 28-30 May 2018

  39. Overview del seminario • Why the Catalogue • Definition of environmentally subsidies and their identification in the international literatures • Methodology adopted in the Catalogue • Overview of the Catalogue’s main results • Subsidies on biodiversity in the framework of the Catalogue • Main recommendations and policy suggestions • What is missing? What further subsidies to deepen in future editions? Fiscal Instruments for Biodiversity in Europe and Beyond- Vilm - 28-30 May 2018

  40. Main results of the Catalogue • 131 measures amounting to € 41 billion; • 5 sectors/categories (Agriculture, Energy, Transport, VAT, Other); • 75 tax expenditures and 56 direct subsidies; • about € 22 billion of tax expenditures and about € 19 billion direct subsidies. Fiscal Instruments for Biodiversity in Europe and Beyond- Vilm - 28-30 May 2018

  41. Tax expenditures Direct subsidies Tax expenditures Direct subsidies Fiscal Instruments for Biodiversity in Europe and Beyond- Vilm - 28-30 May 2018

  42. Agriculture Energy Transport Other VAT Agriculture Energy Transport Other VAT Fiscal Instruments for Biodiversity in Europe and Beyond- Vilm - 28-30 May 2018

  43. Fiscal Instruments for Biodiversity in Europe and Beyond- Vilm - 28-30 May 2018

  44. Energy: Tax expenditures = ca. € 11.2 bn (97%) Direct Subsidies = ca. € 310 ml (3%) VAT: Taxexpenditures= ca. € 3.5 bn Fiscal Instruments for Biodiversity in Europe and Beyond- Vilm - 28-30 May 2018

  45. EHS Energy (€ ml) Reduction of excise on diesel for road transport (goods and passengers) Different Tax Treatment Gasoline vs Diesel Exemption from excise duty on fuel for air navigation Tax relief on the use of energy products in agriculture Free allocation of CO2 emissions trading allowances (ETS) Exemption from excise on electricity used in residential homes (3kWp/150 kWh) Otheritems Exemption from excise duty on fuel for water/sea navigation

  46. VAT: TaxExpenditures= ca. € 3.5 bn (100%) Electricity for domestic use Natural mineral waters Petroleum products for agriculture use and fishery sector Plant protection products General fertilizers Fiscal Instruments for Biodiversity in Europe and Beyond- Vilm - 28-30 May 2018

  47. Agriculture Energy Transport Other VAT Energy: Direct Subsidies = ca. € 12 bn (99%) Tax Expenditures = ca. € 86 bn (1%) Agriculture: Direct Subsidies = ca. € 2.2 bn (99.8%) Tax expenditures = ca. € 4 mn (0.2%) Fiscal Instruments for Biodiversity in Europe and Beyond- Vilm - 28-30 May 2018

  48. Solar Photovoltaic (FIP) Other RES ≠ PV Fiscal Instruments for Biodiversity in Europe and Beyond- Vilm - 28-30 May 2018

  49. Payments for agricultural practices that benefit climate and the environment  Agri-environment-climate payments Organic agriculture Payments to farmers in mountain areas and other areas facing natural constraints Fiscal Instruments for Biodiversity in Europe and Beyond- Vilm - 28-30 May 2018

  50. Main results of the Catalogue/2 Weidentified and analysed ca. € 41 billion of Subsidies: TaxExpenditures (ca. € 22 billion) and Direct Subsidies (ca. € 19 billion). EHSs: 16.2€bn - EFSs 15.7€bn TaxExpenditures : 71% are EHS - DirectSubsidies 76% are EFS Fiscal Instruments for Biodiversity in Europe and Beyond- Vilm - 28-30 May 2018

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