Dr. Miguel Tovar Reaños:

First, if the carbon tax were increased by €80 per tonne, there would be a reduction in emissions of almost 11%. One could do nothing and pay charges for doing nothing. At the end of the day, a price has to be paid for the carbon generated in the economy, so if a carbon tax is created, it means there is some revenue that can be used to compensate poor households or invest in renewables or other kinds of green initiatives. The options are quite clear. We have to reach the targets. The instruments that exist are established and clear around the world, including Europe. Carbon taxation is a policy used throughout the world now. As far as we can see, those are the options. We either create policy instruments that can give some extra money or revenue or we just pay the fees, which will be just throwing money into a hole.