The Economic Valuation of Carbon Footprint

Currently, Greenhouse Gas Emissions are the main reason of the global warming threat. Carbon sequestration by the forests plays the important role in reducing CO₂ emissions. Therefore, the environmental policy of the state to reduce greenhouse gases should first of all focus on the development of forestry. But at the same time the environmental policy depends on the tax policy of the state and is significantly different in developed countries and in countries with transition economies.