The finding is contained in the first KPMG Green Tax Index, launched today at the 2013 KPMG Asia Pacific Tax Summit in Shanghai.
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The KPMG Green Tax Index explores how governments are using their tax systems to respond to global challenges including energy security, water and resource scarcity, pollution and climate change.
It analyzes green tax incentives and penalties in 21 major economies, focusing on key policy areas such as energy efficiency, water efficiency, carbon emissions, green innovation and green buildings.
The KPMG Green Tax Index is intended to raise corporate awareness of the rapidly evolving and complex global landscape of green tax incentives and penalties, and to encourage tax directorsand sustainability chiefs to work together to factor green tax considerations into investment decisions.
"Green taxation is a rapidly evolving and increasingly complexarea," says Greg Wiebe, KPMG’s Global Head of Tax. "A multitude of challenges are facing tax functions worldwide. And, yes, this is an area of tax management requiring time, effort and dollars. However, if addressed with knowledge and pro-activity, the challenges can be opportunities."
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By GlobalData"Governments are increasingly using green tax as a tool to change corporate behavior and to address serious challenges such as energy security, resource and water scarcity, and climate change," says Yvo de Boer, KPMG’s Special Global Advisor, Climate Change & Sustainability.
"Our analysis shows that at least 30 new green tax incentives, penalties or significant regulation changes have been introduced in the countries we studied since January 2011. A pro-active approach to green tax can help companies reduce the cost of strategic investments, drive innovation, improve efficiencyand secure competitive advantage."
The KPMG Green Tax Index attributes scores to green tax incentives and penalties according to arguable value and potential to influence corporate behavior. Scores should be taken as indicative, not absolute, in providing a view of governments with the most active and developed green tax systems in place.
