Assessment of Hungary's transition to environmental sustainability : the integration of green taxation in alignment with the European Union Green Deal

Phoomsavarth, Mittarvanh (2024) Assessment of Hungary's transition to environmental sustainability : the integration of green taxation in alignment with the European Union Green Deal. GRADUS, 11 (3). ISSN 2064-8014

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Abstract

The European Green Deal represents a significant development priority of the European Union to become the world's first climate-neutral continent by 2050, as it is emerging as the most important tool in mitigating climate change. Environmental taxation is one of the most crucial mechanisms for determining the effectiveness of the implementation of the Green Deal policy. Hungary's government has begun to adopt the European Green Deal strategy by increasing its climate ambitions by legislating a carbon neutrality target for 2050. Achieving the 2050 target is possible if Hungary develops well-defined policy roadmaps with key milestones per sector. This study provides a comprehensive assessment of Hungary's commitments to environmental sustainability, with a particular focus on the integration of environmental taxation and carbon pricing measures. Hungary is aiming to align its environmental policies with the European Green Deal. The analysis examines Hungary's ongoing transition towards environmental sustainability. It assesses the effectiveness of the environmental tax initiative, including carbon pricing. The study provides insight into the country's progress and alignment with the objective of the European Green Deal.

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