Tax News Update    Email this document    Print this document  

February 12, 2020
2020-0355

EY report examines impact of carbon taxes on key industries

Calls to address climate issues are growing. Tax policies that aim to curtail CO2 emissions are already in place in many countries, and several US policymakers are putting forth proposals. A new report by EY's QUEST practice, attached below, examines the potential industry impacts of an illustrative carbon tax on all US energy-related CO2 emissions, examining direct and indirect production costs and changes in consumer prices. The report breaks down the impact by industry and looks at the sources of emissions, and can be used as a conversation starter for more company-specific financial modeling and scenario-planning discussions.

———————————————
ATTACHMENT

EY QUEST Report

 

The information contained herein is general in nature and is not intended, and should not be construed, as legal, accounting or tax advice or opinion provided by Ernst & Young LLP to the reader. The reader also is cautioned that this material may not be applicable to, or suitable for, the reader's specific circumstances or needs, and may require consideration of non-tax and other tax factors if any action is to be contemplated. The reader should contact his or her Ernst & Young LLP or other tax professional prior to taking any action based upon this information. Ernst & Young LLP assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information contained herein.

 

Copyright © 1996 – 2024, Ernst & Young LLP

 

All rights reserved. No part of this document may be reproduced, retransmitted or otherwise redistributed in any form or by any means, electronic or mechanical, including by photocopying, facsimile transmission, recording, rekeying, or using any information storage and retrieval system, without written permission from Ernst & Young LLP.

 

EY US Tax News Update Master Agreement | EY Privacy Statement