The Economic Valuation of Carbon Footprint

Abstract

Currently, Greenhouse Gas Emissions are the main reason of the global warming threat. Carbon sequestration by the forests plays the important role in reducing CO2 emissions. Therefore, the environmental policy of the state to reduce greenhouse gases should first of all focus on the development of forestry. But at the same time the environmental policy depends on the tax policy of the state and is significantly different in developed countries and in countries with transition economies.

Keywords

• air pollution
• carbon tax
• crop rotations
• environmental taxes
• reforestation
• sustainable development
• valuation of environmental effects