Abstract
Carbon tax serves as a tool to discourage carbon dioxide (\(\text {CO}_2\)) emissions, which are a root cause of climate change. A well-designed tax policy could reduce the risk of climate change, promote innovation in carbon-reducing technologies, and increase public revenue. In this research work, the model formulation is based on dynamic interactions among variables, namely the atmospheric concentration of \(\text {CO}_2\), human population, forestry biomass, and the levied carbon tax. We assume that the collected revenue is used to control anthropogenic emissions of \(\text {CO}_2\) and fund reforestation/afforestation programs. We have derived sufficient conditions under which the considered dynamical variables settle to their equilibrium levels. The model analysis reveals that the atmospheric level of \(\text {CO}_2\) decreases as the levied tax rate increases, indicating that the atmospheric \(\text {CO}_2\) level can be reversed from its present state through the imposition of a carbon tax. Additionally, the formulated system undergoes Hopf-bifurcation concerning the growth of the levied tax and deforestation rate. Furthermore, through simulations, we have demonstrated that utilizing tax revenues for technologies that limit human-induced \(\text {CO}_2\) emissions and reforestation/afforestation programs is a promising strategy for mitigating the increased levels of \(\text {CO}_2\).
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Acknowledgements
Authors are thankful to the handling editor and reviewer for their useful suggestions, which have improved the first draft of this paper. Anjali Jha is thankful to Innovation in Science Pursuit for Inspired Research (INSPIRE), Department of Science & Technology, Government of India for providing financial support in the form of senior research fellowship (No: DST/INSPIRE Fellowship/2018/IF180791).
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Jha, A., Misra, A.K. A robust role of carbon taxes towards alleviating carbon dioxide: a modeling study. J Eng Math 144, 20 (2024). https://doi.org/10.1007/s10665-023-10327-x
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DOI: https://doi.org/10.1007/s10665-023-10327-x