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Greener taxes and subsidies

Thursday, November 09, 2017

Update: 1:13PM INTERNATIONAL efforts towards greener taxes and subsidies has caused the Pacific Community to take proactive stands to ensure stakeholders financial mechanisms to assist Pacific Island Countries and Territories? governments are protected.

SPC's Restoration of Ecosystem Services and Adaptation to Climate Change (RESCCUE) project has set up a series of three workshops in the region titled 'Greening taxes and subsidies in Pacific island Countries and Territories' that is to take place this month. 

A statement by SPC said taxes and subsidies are powerful financial mechanisms to assist Pacific island Countries and Territories' governments, private sector and communities to adapt to climate change.

"Indeed, greening taxes and subsidies can drive local economic development towards sustainability, trigger change in a wide range of sectors such as energy, transportation, mining, fisheries, agriculture, waste management, water management, urban development and tourism, as well as foster positive financial incentives to fund conservation efforts," the statement said.

"The aim is to bring together representatives of the government, private sector, the scientific community and NGOs to start developing a roadmap, raise awareness and share best-practices to tie taxation (including tax exemptions and customs tariffs) and subsidies more closely to sustainable development objectives, in particular those related to biodiversity and ecosystems in a ridge-to-reef approach."

"The Institute for European Environmental Policy (IEEP) and the Australian National University will present the results of their baseline regional review conducted on the topic."

The workshop will take place  in Papeete, French Polynesia on November 14th, in Port Vila, Vanuatu on November 17th and in  Suva, Fiji on November 24th.

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