As a Carbon footprint consultancy, Carbon taxes should be implemented gradually, with exceptional support for low-income households, businesses relying on trade, and particularly vulnerable employees. The public must be fully aware of the reasons behind the reform and how the funds will be used. It might be necessary to use alternative tools in place of or to supplement carbon pricing. One potentially effective strategy is to provide revenue-neutral tax subsidies to encourage cleaner power generation, the switch to cleaner vehicles, and improvements in energy efficiency. This would prevent a politically challenging increase in fuel prices. A positive initial step has already been taken. The global average carbon price is barely $2 per ton, much below what is required, even though more than 50 carbon tax and emission trading schemes are currently in place at the regional, national, and subnational levels.
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