Carbon taxes of countries worldwide and experiences for Vietnam

Abstract

Currently, climate change is becoming increasingly severe and requires intervention from governments worldwide. In this context, carbon taxation has emerged as a crucial policy tool globally to address this urgent issue by encouraging emissions reduction and promoting the transition to cleaner energy sources. This research draws on the carbon tax policies of representative countries and blocs such as Singapore, Canada, and the European Union (EU) as a basis to strengthen theoretical frameworks, as these are exemplary in implementing carbon tax policies. Furthermore, it synthesizes experiences from these countries/blocs in building carbon taxes. Through this, the authors have a foundation to assess the feasibility of applying carbon taxes in Vietnam. The study demonstrates that implementing carbon taxes in Vietnam is feasible and necessary to reduce greenhouse gas emissions, contribute to climate change mitigation, and promote sustainable economic development. Based on this, the authors propose solutions for carbon taxation in Vietnam drawn from the synthesized experiences, aimed at implementing carbon taxes in the most effective manner