Implementation of carbon pricing is one of the ways many countries control carbon emissions. However, according to the latest report from the Philippine Congress think tank, emphasizing carbon reduction too much may sacrifice social and economic prosperity. The report also indicates that the Philippines has relatively lower carbon emissions, suggesting that imposing a carbon tax may not be necessary.
The Congressional Policy and Budget Research Department (CPBRD) of the Philippine House of Representatives, in a report titled "Smoke and Mirrors: The Hidden Costs of Carbon Taxation," provides a detailed explanation of why carbon tax may not be applicable in the Philippines. It particularly highlights that "the Philippines produces relatively little carbon dioxide — whether it is compared to developed countries or its ASEAN neighbors. This, in turn, puts into question the supposed necessity and urgency of instituting a carbon tax in the Philippines."
