The Fiscal Affairs Department of the International Monetary Fund would like to invite you to the Rio+20 side event:
TAX AND SUBSIDY REFORM FOR A GREENER ECONOMY June 21, 2012, 11:00am – 12:30pm, P3-E, RioCentro
Welcome Remarks
Christine Lagarde
Managing Director, International Monetary Fund
Moderator
Achim Steiner
Executive Director, UN Environment Program Under-Secretary-General, United Nations
Presentations
Michael Keen
International Monetary Fund
Giuseppe Nicoletti
Organization for Economic Cooperation and Development
Kostas Stamoulis
Food and Agriculture Organization
Sebastian Miller and Carlos Ludena
Inter-American Development Bank
Nessim Ahmad
Asian Development Bank
Background Brief:
For many environmental problems, fiscal policies are a very effective instrument. Reflecting environmental costs into market prices gives all actors the right incentives to exploit all possibilities for emissions mitigation and efficient use of natural resources. But the fiscal instruments must be well designed, in terms of targeting the right base, aligning their scale to the magnitude of environmental damages, and using the revenues productively, while also addressing concerns as to the burdens on households and industry. Often, however, the first priority in ?getting the prices right? is reform of existing energy and agricultural subsidies that distort the functioning of markets, and run counter to environmental objectives. This session will provide recommendations for tax and subsidy reforms to promote environmental sustainability. Case studies will be examined, with a focus on experience in Latin America, Asia, and selected countries of the OECD area.
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Maria Delariarte
Fiscal Affairs Department
International Monetary Fund
[email protected]