THE EU ENVIRONMENTAL TAXATION INFLUENCE ON A SUSTAINABLE DEVELOPMENT

Abstract

European policyand environmental taxation mayhave a significant impact on promoting sustain-able development in the whole world and Europein particular.Although, properly designed strategic plans and a set of wide policy measures should be shaped to meet national needs and capabilities.Sus-tainable development refers to a way of achieving economic growth and societal progress that meets the needs of the present generation without compromising the ability of future generations to meet their own needs. It recognizes that economic, social, and environmental considerations are interconnected and that sustainable development requires a balance between these three pillars. The 2030 Agenda forSustainable Developmentand its 17 Sustainable Development Goals (SDGs)adopted by the United Nations (UN) in September 2015, lay down as an intrinsic part of the European Commission’s work programme, are the roadmap for achieving a sustainable future. The framework for sustainable development embracespoverty reduction, zero hunger, good health, education, clean water, affordable and clean energy, decent work and economic growth, reduced inequalities, sustainable cities, responsible consumption, climate action, gender equality, life below water, life on land, peace, justice and strong institutions, partnerships for the goals. The European Green Dealandthe common agricultural policy (CAP), set ambitious goals for re-ducing greenhouse gas emissions and promoting renewable energy and circular economy practices.On the other hand, environmental taxation remains animportant tool for promoting a “green” future. Taxes on carbon emissions, for example, can incentivize companies and individuals to reduce their carbon foot-print and shift towards cleaner energy sources. Similarly, taxes on single-use plastics can discourage their use and promote more sustainable alternatives.Also, the revision of the Energy Taxation Directive (ETD) supports theEU's climate targets by ensuring that the taxation of motor and heating fuels and electricity in the EU reflects their impact on the environment and our health. Overall, the combination of well-thought and revised EUpolicies along withenvironmental taxation can create a more sustainable economic model. By incentivizing companies and individuals to adopt sustainable practices, and by setting ambitious tar-gets for reducing emissions and promoting sustainable development, European countries can help build amore sustainable future for generations to come