A CRITICAL INVESTIGATION OF POTENTIAL SUCCESS FACTORS WHEN IMPLEMENTING NATIONAL CARBON TAX POLICIES

It is becoming ever more apparent that society faces an increasing number of threatening environmental challenges (OECD, 2011). With the growing number of real-world events linked to global warming, such as the 0.9 degrees Celsius increase in global temperatures since the 19th century and an eight (8) inch rise in sea levels in the last 100 years (NASA, n.d.), it is clear to see the importance of making real progress towards decarbonisation and assessment of methods to achieve this is necessary. Although it is often assumed that protecting the environment and continued economic development are naturally opposed (Jackson, 2013) it is essential that it is understood how these objectives can be simultaneously fulfilled. Pricing carbon is considered by many one as of the best policy instruments to achieve these objectives, and yet, governments have used it sparingly (OECD, 2017). The world bank (2019) states that "[t]here is a growing consensus among both governments and businesses on the fundamental role of carbon pricing in the transition to a decarbonized economy", suggesting that the role of carbon taxation could be key to global decarbonisation. Additionally, the heightened attention towards the environment was highlighted in the recent British political debates, with the main parties quoting new net zero deadlines, such as that of the Conservative party, suggesting 2050 (The Conservative and Unionist Party , 2019), with carbon tax being mentioned as a specific policy point in the Green Party manifesto (Green Party, 2019). This leaves us with an important puzzle: What factors contribute to the successful, or unsuccessful, implementation of a carbon tax?