世界银行-发展和气候行动的财政政策（英文）-2018.12-243页-5mb

Summary of Fiscal Policies for Development and Climate Action

Core Content

This document explores the role of fiscal policies in promoting both development and climate action. It emphasizes the need for environmental tax reform (ETR) and fiscal strategies to enhance resilience against climate change impacts, while also supporting economic growth and competitiveness. The report is authored by Miria A. Pigato and Simon Black, with contributions from various World Bank economists and experts.

Main Chapters and Key Findings

Chapter 1: Benefits beyond Climate: Environmental Tax Reform

• Introduction: Discusses the importance of ETR in addressing environmental issues while supporting development.
• Why "climate action": Highlights the urgency of climate change and its economic and social impacts.
• Why "beyond climate": Notes that ETR can have broader benefits beyond climate, such as improving public health and economic productivity.
• Environmental Tax Gap: Reveals that the global environmental tax gap on fossil fuels is significant, indicating under-taxation of environmental harms.
• Impact on Development and Welfare: ETR can improve welfare through reduced pollution and enhanced resource efficiency.
• Impact on Equity, Poverty, and Competitiveness: ETR can be progressive in developing countries and may not harm competitiveness if designed properly.
• Suitability for Developing Countries: ETR is particularly beneficial in developing countries with large informal sectors, where it can reduce distortions and improve tax equity.
• Implementation Strategies: Recommends using ETR revenues to reduce other taxes, invest in public goods, and support climate adaptation.
• Policy Recommendations: Includes a call for a double dividend approach, where ETR improves both environmental outcomes and economic growth.

Chapter 2: Staying Competitive: Productivity Effects of Environmental Taxes

• Introduction: Focuses on how environmental taxes can affect competitiveness and productivity.
• Competitiveness and Environmental Taxes: Evidence suggests that environmental taxes do not necessarily harm competitiveness and can improve productivity.
• Energy Price Impact on Firms: Energy price increases in developing countries are associated with improved firm performance, especially in energy efficiency.
• Policy Options to Minimize Competitiveness Risks: Includes measures such as tax reductions, subsidies, and investment in technology to offset competitiveness concerns.
• Conclusion: Emphasizes the importance of designing ETR to support productivity and competitiveness, particularly in developing economies.

Chapter 3: Increasing Resilience: Fiscal Policy for Climate Adaptation

• Introduction: Discusses the role of fiscal policy in building climate resilience.
• Macroeconomics of Climate Change: Highlights the economic costs of climate change and the need for proactive fiscal measures.
• Fiscal Policy for Adaptation: Proposes mechanisms such as early investment, deficit financing, and donor grants to support adaptation.
• Adaptation to Gradual and Extreme Climate Events: Differentiates between the two types of adaptation and their fiscal implications.
• Policy Implications: Suggests that early investment in adaptation can reduce long-term economic costs and improve debt sustainability.
• Conclusion: Stresses the importance of integrating climate adaptation into fiscal planning to enhance economic resilience.

Chapter 4: Managing the Fiscal Risks Associated with Natural Disasters

• Introduction: Examines the fiscal risks posed by natural disasters and climate change.
• Fiscal Risks from Climate Change: Includes contingent liabilities, debt sustainability, and fiscal buffers.
• Fiscal Sustainability Model: Used to assess the impact of climate risks on public finances.
• Case Studies: Analyzes fiscal scenarios in Jamaica and the Dominican Republic, showing the effects of different adaptation strategies.
• Policy Recommendations: Encourages the use of fiscal buffers and insurance mechanisms to manage climate risks.

Key Information

• Environmental Tax Reform (ETR): A critical tool for reducing emissions and improving public welfare, especially in developing countries.
• Competitiveness: ETR can be designed to avoid competitiveness losses and even enhance firm productivity.
• Climate Adaptation: Fiscal policies must incorporate climate risks into long-term planning to ensure economic resilience.
• Fiscal Risks: Natural disasters pose significant fiscal risks, requiring proactive management through buffers and insurance.
• Empirical Evidence: Supports the effectiveness of ETR in improving environmental outcomes and economic development.

Appendices and Boxes

• Appendices: Provide detailed data and analysis on ETR, climate adaptation, and fiscal risk management.
• Boxes:
  • 1.1: Externalities and Pigouvian taxation
  • 1.2: Analytical tools for appraising ETR
  • 1.3: Distributional effects of ETR
  • 1.4: Interactions of ETR with other environmental policies
  • 1.5: Managing shifts to informal fuel substitutes
  • 1.6: Antedating of benefits from ETR
  • 2.1: Economic impacts of environmental regulation and taxes
  • 3.1: Financing mechanisms for climate adaptation
  • 4.1: Fiscal risk factors and climate change channels

Figures and Maps

• Figures: Include data on environmental tax gaps, energy price impacts on firms, and fiscal outcomes in different scenarios.
• Maps: ES.1 and ES.2 show the development status and vulnerability to climate change of countries, respectively.

Conclusion

The report underscores the necessity of integrating climate action into fiscal policy to achieve sustainable development. It highlights the potential for ETR to enhance both environmental and economic outcomes, particularly in developing countries, and calls for a proactive and integrated approach to fiscal reform and climate adaptation.