Revenue potential from carbon price reform

Top 5 potential increases in tax revenues* from reforming subsidies on fuel use and pricing to carbon benchmark (EUR 30/tCO₂), as % of GDP

Note: Egypt has implemented energy tax and subsidy reform in the meantime, reducing the remaining revenue potential from taxing to a EUR 30 benchmark.

*The 15 countries covered in the report are: Costa Rica, Côte d’Ivoire, Dominican Republic, Ecuador, Egypt, Ghana, Guatemala, Jamaica, Kenya, Morocco, Nigeria, Philippines, Sri Lanka, Uganda and Uruguay.

Source: OECD (2021), Taxing Energy Use for Sustainable Development