HarmonyVote

Initiative Title: Global Carbon Tax Adoption Act

Description:

1. Universal Carbon Pricing Mechanism:
   All participating countries will implement a carbon tax on fossil fuel emissions, starting at $50 per metric ton of CO₂-equivalent, increasing annually. This will incentivize reductions in emissions and provide a clear price signal to polluters.

2. International Tax Coordination via the UN:
   The United Nations Framework Convention on Climate Change (UNFCCC) will facilitate coordination to ensure tax levels are consistent, avoid tax havens, and prevent competitive disadvantages across borders.

3. Revenue Redistribution for Climate Justice:
   A portion of the revenue will be redistributed domestically to low-income households to offset higher energy prices. The rest will fund renewable energy, energy efficiency programs, and climate adaptation measures.

4. Support for Developing Countries:
   High-income nations will allocate a share of their carbon tax revenue to help developing countries invest in clean technologies, infrastructure, and resilience against climate change.

5. Border Carbon Adjustments:
   Countries will impose a tariff on imported goods from countries without an equivalent carbon tax, ensuring fair trade and preventing carbon leakage.

6. Monitoring and Transparency Mechanism:
   An independent global body will monitor emissions, verify tax implementation, and publish annual reports on environmental and economic impacts.

Possible Outcomes and Implications:

• Significant Emissions Reduction: Establishing a predictable carbon cost will drive investment away from fossil fuels and toward sustainable alternatives.
• Economic Efficiency: A uniform carbon price allows businesses to plan clean investments and avoids fragmented regulatory landscapes.
• Global Climate Equity: Redistribution of revenues and support for developing nations ensures that the transition is fair and inclusive.
• International Cooperation Boost: A globally coordinated tax could mark a major step toward cooperative climate action under the Paris Agreement.

Votes: