論文。「Equivalence of Carbon Tax, Carbon Pricing and Small and Medium-sized Enterprise Green Policies」（Naoyuki Yoshino et.all）
2025-06-29 14:03:27
慶応義塾大学名誉教授で、現在、東京都立大学経済経営学部特任教授の吉野直行先生が、格付け機関によるESG評価手法の違いによって投資判断の「歪み」が生じる可能性に対応するため、企業の炭素排出量と「グリーン」な企業活動を両立させるネット炭素価格設定に基づく統一的なアプローチを提案されています。これらの問題は、グローバル企業が炭素税率等の違いに応じて生産拠点を移転するカーボンリーケージにつながる可能性があります。
Title: 「Equivalence of Carbon Tax, Carbon Pricing and Small and Medium-sized Enterprise Green Policies」（Naoyuki Yoshino, Aashi Agarwal, Vicka Kharisma, and KE Seetha Ram）
Book: “Strengthening the Ecosystem of Vibrant MSMEs for Resilient Growth in Asia and the Pacific.” by ADB-ADBI-University of Tokyo (2025)
Chapter 7 : Equivalence of Carbon Tax, Carbon Pricing and Small and Medium-sized Enterprise Green Policies
Abstract
This chapter examines the current landscape of environmental, social, and governance (ESG) investing by focusing on the environmental segment. We analyze discrepancies in scoring environmental, social, and governance methodologies among different rating agencies and show how these inconsistencies can lead to distorted investment decisions. To address this issue, we propose a unified approach based on net carbon pricing, which incorporates both carbon emissions and “green” corporate efforts. We address the issue that carbon trading, pricing, taxes and green bonds differ across countries. This can lead to distortions by production location as global companies relocate production based on tax rates and various fees.
We also explore the potential alignment of carbon taxes, green bonds, and carbon pricing mechanisms. We argue that by standardizing the measurement of greenhouse gas emissions, these instruments could converge to provide consistent signals for investors and policymakers. The burdens and consequences of each policy will differ, causing the relocation of global companies to places with weaker environmental regulations.
You can access full paper here ⇒
Research Institute for Environmental Finance