2023 Production Gap Report

Santhosh Kumar 10/11/2023

2023 Production Gap Report mind map
Source
United Nations Environment Programme
Context
Discrepancy in fossil fuel production
Versus global warming limits
Report Authors
Stockholm Environment Institute
Climate Analytics
E3G
International Institute for Sustainable Development
UNEP
Launch Year
2019
What is the Production gap?
Definition
Difference in projected vs. required fossil fuel extraction
Relation to Climate Goals
Paris Agreement targets
1.5°C warming limit
2°C warming limit
Production gap vs. emissions gap
Emission Gap
Discrepancy in GHG emissions
Based on
Nationally Determined Contributions
Accepted levels for 2030
Report Findings
Increased production projections
By 2030
Coal in major countries
Until at least 2050
Oil and gas
Countries listed
Australia
Brazil
Canada
China
India
United Arab Emirates
Recommendations
Reduction targets
For fossil fuel production
Equitable transition
Considering different countries
Phase-out timeline
Coal by 2040
Oil and gas by 2050
75% reduction from 2020 levels

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A Mindmap image featuring information about the "Global Tax Evasion Report 2024" by the European Union Tax Observatory. The image provides context on tax evasion discussions, the Global Minimum Tax (GMT), and measures to combat evasion. It defines tax evasion as the illegal non-payment of taxes, with methods including income underreporting, hiding money offshore, and inflating deductions. The report highlights and recommendations are as follows: A $1 trillion profit shift to tax havens in 2022 with a recommendation for a minimum corporate tax of 25%. Billionaires' effective tax rates ranging from 0% to 0.5%, with a recommendation for a new 2% global tax on billionaires' wealth. Decrease in offshore tax evasion with a recommendation for the creation of a Global Asset Registry. Policy impact on tax evasion with a recommendation to tax long-term residents in low-tax countries. Multinationals shifting $1 trillion to tax havens, with a recommendation for unilateral tax collection measures. A trend called "Greenwashing the Global Minimum Tax" with a recommendation to strengthen economic substance and anti-abuse rules. The image also mentions Indian measures against tax evasion, including E-Invoicing, the Fugitive Economic Offenders Act, the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Income Tax Act, the Prevention of Money Laundering Act, treaties like the Double Tax Avoidance Agreement (DTAA) and Tax Information Exchange Agreement (TIEA), the Benami Transactions Informants Reward Scheme, and corporate tax reductions for existing companies and new manufacturing firms. Finally, it discusses international reforms against tax evasion, including the Global Minimum Tax (GMT) proposed by the OECD with a 15% corporate minimum tax agreed upon by 136 countries, including India, and the Automatic Exchange of Information (2017) for combating offshore tax evasion.

Global Tax Evasion Report 2024

26/10/2023 / Indices/Reports, Taxation

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Categories: Global Warming & Climate Change, Indices/Reports

Tags: 10.11.2023, Newsbits

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