LAUSR

The COVID-19 pandemic has raised awareness of the urgency of reforming our economy to achieve a global recovery. This endeavour will require the implementation of various strategies aiming for a system reset, at the core of which is the sustainable recovery model. In 2009, the United Nations General Assembly proclaimed 22 April as International Mother Earth Day. It was a brave act of acknowledgement that the Earth and its ecosystems are our typical home. At the same time, it is a tangible expression of the global conviction that humankind must be in Harmony with Nature to achieve a just balance among the economic, social and environmental needs of present and future generations. While the global community is actively searching for new ways to achieve sustainable development, resolved to perform an economic system reset, determined to a green recovery, why don't we try to reform the taxing system? A right taxation system could help recover quickly and achieve a green recovery of the global economy. While everyone has to pay tax, the truth is that some more prominent companies go to extreme measures to minimise their contribution where they are based and where they sell. The new thinking that this article puts forward is that instead of taxing the companies for what they produce and sell, we should tally the amount of CO2 a company emits while making the goods and recycling them to tax them accordingly.