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Brunei Darussalam: Selected Issues
Author:
International Monetary Fund. Asia and Pacific Dept
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2023: Issue 347
Language:
English
Publication Date:
06 Oct 2023
DOI:
https://doi.org/10.5089/9798400257223.002
ISBN:
9798400257223
ISSN:
1934-7685
Pages:
72
Keywords:
carbon pricing revenue; supply and demand demand shock; government digitalization; stakeholder agency; inflation decomposition; Carbon tax; Greenhouse gas emissions; Inflation; Fiscal stance; Global; Southeast Asia
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This Selected Issues paper discusses the potential role of carbon pricing for climate mitigation and revenue diversification strategy in Brunei Darussalam. Carbon pricing schemes are gaining momentum worldwide, including in Asia. The paper provides guidance on the choice between carbon taxes and emissions trading systems and their design. The paper compares the impact of several mitigation policies modelled for illustration in Brunei Darussalam. All policies reduce carbon dioxide emissions below baseline levels by 10-50 percent by 2030, with most of the reductions coming from the power generation and industry sectors. The policies also raise revenues equivalent to 1.6–7.2 percent of gross domestic product above the baseline in 2030. The policy yielding the most of emissions reduction and the most revenues is the combination policy of a carbon tax reaching $50 per tonne by 2030 and the fuel subsidies phase-out. The policy yielding smallest emissions reduction and revenues is feebates.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund