The answer to soaring energy costs?
Steel giant Tata has recently called upon the government to create a more “level playing field” with the rest of Europe when it comes to environmental and green taxes.
Tata highlighted the fact that energy intensive industries are likely to suffer and thus creating a competitive advantage for the rest of Europe and indeed the rest of the world. Steel and chemicals are clearly very energy intensive, but manufacturing as a whole is also affected by soaring energy costs.
KPMG have recently carried out a study to produce the KPMG Green Tax Index 2013: a report providing results from the analysis of 21 countries that all have a green tax system in place. The report reviews the many tax schemes, incentives and penalties in place in each country and highlights the fact that many of these have only been introduced in 2011.
I have provided an extract from the report below which has divided said countries into groups of four, stating whether they have a leaning towards, tax, penalties or incentive schemes. I would also highly recommend reading the full report, which you can find by clicking the link below: