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Governments the world over must radically overhaul their current tax planning systems if they are to help encourage environmental best practises.
That was the view offered by Dutch entrepreneur Eckart Wintzen when he addressed the Library House CleanTech conference earlier this week, reports IT Week.
He explained that current tax systems, which are focused on income and value added tax, were directly contributing to business models that were environmentally unsustainable.
Mr Wintzen added that governments should instead use a Value Extracted Tax (VET) system, which would be based on the damage that an item or service inflicts upon the earth and the cost of repairing that damage
He claims that it is absurd that manpower, which is a renewable source, is taxed the most, while finite resources such as oil are taxed modestly in comparison.
"Our most scare resources cost almost nothing", he said, arguing that this has led to a huge waste of resources in the west.
Mr Wintzen conceded that the proposed scheme would be complex but insisted that the current VAT system was "bloody complex" too.
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