Companies that use fossil fuels should be taxed more than companies that use green energies. To what extent do you agree or disagree?

It is argued that states should tax corporations burning fossil fuels more than those utilizing a greener source of energy.

This

essay completely agrees with

this

statement because it encourages the usage of a more renewable form and tackles climate change. Mandating higher taxes to institutions running on fossil fuels is going to eventually lead to an eco-friendly approach to running a business. As the duties go up, so do the cost and revenue decreases which in turn brings down profitability.

Therefore

companies turn to more efficient ways of bringing down costs which ultimately leads them to adopt a greener approach.

For example

, the government of India has given tax exemptions up to 1.5 lakhs on interest to people purchasing an electric vehicle, and at the same time increased the GST rate for vehicles made for petrol and diesel.

This

has spiked the demand for electric vehicles and these companies are happy to manufacture it.

This

adoption

further

helps regulatory authorities tackle climate change. As and when organizations keep on using coal and natural gas for their operations, more toxic particles are released into the environment. These contribute a lot to global warming, which

then

melts glaciers in our north and south poles, resulting in rising sea levels.

This

becomes a continuous cycle and eventually leads to abnormal weather conditions.

Therefore

, to break

this

for good and heal the Earth, doing away with non-renewable resources is the key.

For instance

, during the COVID-19 pandemic, the lockdown imposed by the nations resulted in a reduction in average daily temperature by certain degrees.

This

was possible because for almost a year the amount of coal burnt, required to power these infrastructures, was significantly less. In conclusion, the idea of taxing companies running on fossil fuels more than those working on a renewable energy source is good as they eventually lead to the adoption of greener forms which is sustainable in the long run.