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14th economic analysis of Côte d'Ivoire: challenges and opportunities related to the country's climate ambitions

03/07/2024
Source : ORISHAS-FINANCE
Categories: Sectors

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In its report, the World Bank provided an overview of climate finance in Côte d'Ivoire. This is the 14th economic analysis of Côte d'Ivoire by the World Bank. He highlighted the challenges and opportunities related to the country's climate ambitions.

Côte d'Ivoire continues to face significant challenges in the area of climate finance, although it has demonstrated great resilience in the face of various shocks. To reach its Nationally Determined Contribution (NDC) goals, estimated at $22 billion by 2030, Côte d'Ivoire could take advantage of the carbon tax. The World Bank style="font-family: "Bookman Old Style”, "serif"> indicated that a well-designed carbon tax could generate significant socio-economic gains, increase tax revenues, and support a inclusive growth while mitigating the effects of climate change. For the institution, “fossil fuels benefit from important and widespread “fiscal niches” in Côte d'Ivoire, which keeps consumer prices well below the level corresponding to the externalities associated with fossil fuels. Implementing carbon taxes upfront on fossil fuels would ensure that prices accurately reflect the true costs of using these fuels, thereby helping to mitigate climate change. In addition, carbon taxes involve low administrative costs, are easier to collect and control than direct taxes, offer few opportunities for evasion, and could cover the large informal segment économie of the country.”

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