Do we still need a carbon tax?

The article examines whether the introduction of a carbon tax is necessary and opportune in the current EU and Italian regulatory context. Starting from the observation that existing carbon pricing instruments cover approximately 40% of global greenhouse gas emissions, the paper argues that adding a new levy to an already overburdened tax system entails significant legal, operational, and compliance costs that may outweigh its expected benefits. Against this backdrop, the article analyses three main alternatives available under the Fit for 55% package: the EU Emissions Trading System (EU ETS), harmonised energy excise duties as reformed by the proposed Directive COM(2021)563, and emerging agricultural technologies such as CO₂ fertilisation in greenhouses. The paper concludes that these instruments, applied in combination, are capable of addressing the main emission sources — industrial production, transport, buildings, agriculture, and waste — without resort to a standalone carbon tax. The integration and mutual reinforcement of the EU ETS and reformed harmonised excise duties, supported by technological innovation, is presented as a more efficient and legally coherent approach to climate change mitigation.