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Author: Ian Parry Publisher: International Monetary Fund ISBN: 1484375068 Category : Business & Economics Languages : en Pages : 56
Book Description
Following submission of greenhouse gas (GHG) mitigation commitments (by 169 countries) for the 2015 Paris Agreement, policymakers are considering specific policy actions to implement these commitments. To help guide policy, it is helpful to have a quantitative framework for understanding: the main impacts (on GHGs, fiscal balances, the domestic environment, economic welfare, and distributional incidence) of emissions pricing; trade-offs between pricing and other (commonly used) mitigation instruments; and why, and to what extent, needed policies and their impacts differ across countries. This paper provides an illustrative sense of this information for G20 member countries (who collectively account for about 80 percent of global emissions) under plausible (though inevitably uncertain) projections for future fuel use and fuel price responsiveness. The quantitative results underscore the generally strong case for (comprehensive) pricing over other instruments, its small net costs or often net benefits (when domestic environmental gains are considered), but the potentially wide dispersion, and hence inefficiency, in emissions prices implied by countries’ mitigation commitments.
Author: Ian Parry Publisher: International Monetary Fund ISBN: 1484375068 Category : Business & Economics Languages : en Pages : 56
Book Description
Following submission of greenhouse gas (GHG) mitigation commitments (by 169 countries) for the 2015 Paris Agreement, policymakers are considering specific policy actions to implement these commitments. To help guide policy, it is helpful to have a quantitative framework for understanding: the main impacts (on GHGs, fiscal balances, the domestic environment, economic welfare, and distributional incidence) of emissions pricing; trade-offs between pricing and other (commonly used) mitigation instruments; and why, and to what extent, needed policies and their impacts differ across countries. This paper provides an illustrative sense of this information for G20 member countries (who collectively account for about 80 percent of global emissions) under plausible (though inevitably uncertain) projections for future fuel use and fuel price responsiveness. The quantitative results underscore the generally strong case for (comprehensive) pricing over other instruments, its small net costs or often net benefits (when domestic environmental gains are considered), but the potentially wide dispersion, and hence inefficiency, in emissions prices implied by countries’ mitigation commitments.
Author: Mr. Simon Black Publisher: International Monetary Fund ISBN: Category : Business & Economics Languages : en Pages : 44
Book Description
Urgent and aggressive action to cut greenhouse gas emissions this decade is needed. As countries take stock of the Paris Agreement, this Note provides IMF staff’s annual assessment of global climate mitigation policy. Global ambition needs to be more than quadrupled: emissions cuts of 50 percent below 2019 levels by 2030 are needed for 1.5 degrees Celsius, but current targets would only achieve 11 percent. We provide options for ratcheting-up ambition equitably. Implementation could be accelerated via agreements on minimum carbon prices. Drastic increases in mitigation investment are needed, requiring policies to shift private sector incentives. Climate finance should be scaled-up, with a new goal aligned with needs in developing countries. The development and diffusion of low-carbon technologies should be accelerated collaboratively. Overall, the Paris Agreement is making progress, but a response to the Global Stocktake that prioritizes decisive action this decade is critical.
Author: Mr. Simon Black Publisher: International Monetary Fund ISBN: Category : Business & Economics Languages : en Pages : 39
Book Description
There is growing interest in international coordination over climate mitigation policy. Climate clubs or international carbon price floors could complement the Paris Agreement by helping to deliver the near-term cuts in global greenhouse gas emissions needed to contain global warming to 1.5 to 2oC. To ensure inclusivity, these arrangements need to account for varying mitigation policies across countries, including carbon pricing, fuel taxes, subsidy reform, and non-pricing approaches like regulations. A transparent methodology is needed to compare and monitor mitigation effort by countries implementing diverse policy packages. This paper presents and illustrates a methodology for converting climate mitigation policies and targets into their carbon price equivalents and applies it to the Group of Twenty (G20) countries.
Author: Ian Parry Publisher: International Monetary Fund ISBN: 1484373847 Category : Business & Economics Languages : en Pages : 56
Book Description
Following submission of greenhouse gas (GHG) mitigation commitments or pledges (by 190 countries) for the 2015 Paris Agreement, policymakers are considering specific actions for their implementation. To help guide policy, it is helpful to have a quantitative framework for understanding: i) the main impacts (on GHGs, fiscal balances, the domestic environment, economic welfare, and distributional incidence) of emissions pricing; ii) trade-offs between pricing and other (commonly used) mitigation instruments; and iii) why/to what extent needed policies and their impacts differ across countries. This paper provides an illustrative sense of this information for G20 member countries (which account for about 80 percent of global emissions) under plausible (though inevitably uncertain) projections for future fuel use and price responsiveness. Quantitative results underscore the generally strong case for (comprehensive) pricing over other instruments, its small net costs or often net benefits (when domestic environmental gains are considered), but also the potentially wide dispersion (and hence inefficiency) in emissions prices implied by countries’ mitigation commitments.
Author: Mr. Simon Black Publisher: International Monetary Fund ISBN: Category : Business & Economics Languages : en Pages : 72
Book Description
To stabilize the climate, global greenhouse gas emissions must be cut by 25 to 50 percent by 2030 compared to 2019. Such an unprecedented rate of decarbonization necessitates climate mitigation policies across countries, notably carbon pricing, fossil fuel subsidy reform, renewable subsidies, feebates, emission rate regulations, and public investments. To design and implement effective, efficient, and equitable policies, governments need tools to assess economic, environmental, fiscal, and social impacts. To support this effort, the IMF and World Bank are making their joint Climate Policy Assessment Tool (CPAT) available to governments. CPAT is a transparent, flexible, and user-friendly model covering over 200 countries. It allows for the rapid quantification of impacts of climate mitigation policies, including on energy demand, prices, emissions, revenues, welfare, GDP, households and industries, local air pollution and health, and many other metrics. This paper describes the CPAT model, its data sources, key assumptions, and caveats.
Author: Signe Krogstrup Publisher: International Monetary Fund ISBN: 1513511955 Category : Business & Economics Languages : en Pages : 58
Book Description
Climate change is one of the greatest challenges of this century. Mitigation requires a large-scale transition to a low-carbon economy. This paper provides an overview of the rapidly growing literature on the role of macroeconomic and financial policy tools in enabling this transition. The literature provides a menu of policy tools for mitigation. A key conclusion is that fiscal tools are first in line and central, but can and may need to be complemented by financial and monetary policy instruments. Some tools and policies raise unanswered questions about policy tool assignment and mandates, which we describe. The literature is scarce, however, on the most effective policy mix and the role of mitigation tools and goals in the overall policy framework.
Author: OECD Publisher: OECD Publishing ISBN: 9264273522 Category : Languages : en Pages : 314
Book Description
This report provides an assessment of how governments can generate inclusive economic growth in the short term, while making progress towards climate goals to secure sustainable long-term growth. It describes the development pathways required to meet the Paris Agreement objectives.
Author: Ursula Fuentes Hutfilter Publisher: ISBN: Category : Languages : en Pages :
Book Description
Achieving the Paris Agreement Long-term temperature goal (PA LTTG) requires closing the 2030 ambition and action gap between emissions levels consistent with the Paris Agreement and emissions levels projected with current targets and policies. G20 countries have a crucial role to play in realising increased climate policy ambition, given their economic power and prosperity, as well as their influence on investments, technology deployment and financial flows. This briefing paper provides an overview of mitigation options that have been analysed in recent literature and that can contribute to closing the emissions gap in 2030. This provides the basis to identify key policy areas and promising options for intergovernmental cooperation between the G20 nations, as well as possibly other relevant actors.
Author: United Nations Publisher: UN ISBN: 9789211587449 Category : Political Science Languages : en Pages : 172
Book Description
"The International Resource Panel (IRP) was established to provide independent, coherent and authoritative scientific assessments on the use of natural resources and their environmental impacts over the full life cycle. The Panel aims to contribute to a better understanding of how to decouple economic growth from environmental degradation while enhancing well-being. The Secretariat is hosted by the United Nations Environment Programme. IRP assessments demonstrate the opportunities for governments, businesses and wider society to work together to create and implement policies that ultimately lead to sustainable resource management, including through better planning, technological innovation and strategic incentives and investments. Materials are vital to modern society, but their production is an important source of greenhouse gases. Emissions from material production are now comparable to those from agriculture, forestry, and land use change combined, yet they have received much less attention from the climate policy community. The IPR authors propose looking beyond energy efficiency to reduce global carbon footprint. This report was developed by the IRP in response to a request from the Group of 7. It conducts a rigorous assessment of the contribution of material efficiency to GHG abatement strategies. More concretely, it assesses the potential reduction of GHG emissions from material efficiency strategies applied in residential buildings and light duty vehicles, and reviews policies that address these strategies. The IRP modelling results show that increasing material efficiency can help enhance efforts in moving towards the 1.5° C target set by the Paris Agreement." -- Page 4 of cover
Author: Alice C. Hill Publisher: Oxford University Press ISBN: 0197549705 Category : Medical Languages : en Pages : 273
Book Description
"The Fight for Climate after COVID-19 draws on the troubled and uneven COVID-19 experience to illustrate the critical need to ramp up resilience rapidly and effectively on a global scale. After years of working alongside public health and resilience experts crafting policy to build both pandemic and climate change preparedness, Alice C. Hill exposes parallels between the underutilized measures that governments should have taken to contain the spread of COVID-19 -- such as early action, cross-border planning, and bolstering emergency preparation -- and the steps leaders can take now to mitigate the impacts of climate change. Through practical analyses of current policy and thoughtful guidance for successful climate adaptation, The Fight for Climate after COVID-19 reveals that, just as our society has transformed itself to meet the challenge of coronavirus, so too will we need to adapt our thinking and our policies to combat the ever-increasing threat of climate change." --
Author: Ian Parry
Author: Ian Parry
Author: Mr. Simon Black
Author: Mr. Simon Black
Author: Ian Parry
Author: Mr. Simon Black
Author: Signe Krogstrup
Author: OECD
Author: Ursula Fuentes Hutfilter
Author: United Nations
Author: Alice C. Hill