Proposal For An International Carbon Price Floor Among Large Emitters
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Proposal For An International Carbon Price Floor Among Large Emitters
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Author : Ian Parry
language : en
Publisher: International Monetary Fund
Release Date : 2021-06-18
Proposal For An International Carbon Price Floor Among Large Emitters written by Ian Parry and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-06-18 with Business & Economics categories.
Countries are increasingly committing to midcentury ‘net-zero’ emissions targets under the Paris Agreement, but limiting global warming to 1.5 to 2°C requires cutting emissions by a quarter to a half in this decade. Making sufficient progress to stabilizing the climate therefore requires ratcheting up near-term mitigation action but doing so among 195 parties simultaneously is proving challenging. Reinforcing the Paris Agreement with an international carbon price floor (ICPF) could jump-start emissions reductions through substantive policy action, while circumventing emerging pressure for border carbon adjustments. The ICPF has two elements: (1) a small number of key large-emitting countries, and (2) the minimum carbon price each commits to implement. The arrangement can be pragmatically designed to accommodate equity considerations and emissions-equivalent alternatives to carbon pricing. The paper discusses the rationale for an ICPF, considers design issues, compares it with alternative global regimes, and quantifies its impacts.
Implementing The United States Domestic And International Climate Mitigation Goals A Supportive Fiscal Policy Approach
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Author : Ian Parry
language : en
Publisher: International Monetary Fund
Release Date : 2021-03-03
Implementing The United States Domestic And International Climate Mitigation Goals A Supportive Fiscal Policy Approach written by Ian Parry and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-03-03 with Business & Economics categories.
The United States has pledged to become carbon neutral by 2050, meet sectoral objectives (e.g., for carbon free power, electric vehicles) and encourage greater mitigation among large emitting countries and of international transportation emissions. Fiscal policies at the national, sectoral, and international level could play a critical role in implementing these objectives, along with investment, regulatory, and technology policies. Fiscal instruments are cost-effective, can enhance political acceptability, and do not worsen, or could help alleviate, budgetary pressures. Domestically, a fiscal policy package could contain a mix of economy-wide carbon pricing and revenue-neutral feebates (i.e., tax-subsidy schemes) with the latter reinforcing mitigation in the transport, power, industrial, building, forestry, and agricultural sectors. Internationally, a carbon price floor among large emitters (with flexibility to implement equivalent measures) could effectively scale up global mitigation, while levies/feebates offer a practical approach for reducing maritime and aviation emissions.
Carbon Pricing What Role For Border Carbon Adjustments
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Author : Ian W.H. Parry
language : en
Publisher: International Monetary Fund
Release Date : 2021-09-27
Carbon Pricing What Role For Border Carbon Adjustments written by Ian W.H. Parry and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-09-27 with Business & Economics categories.
This Climate Note discusses the rationale, design, and impacts of border carbon adjustments (BCAs), charges on embodied carbon in imports potentially matched by rebates for embodied carbon in exports. Large disparities in carbon pricing between countries is raising concerns about competitiveness and emissions leakage, and BCAs are a potentially effective instrument for addressing such concerns. Design details are critical, however. For example, limiting coverage of the BCA to energy-intensive, trade-exposed industries facilitates administration, and initially benchmarking BCAs on domestic emissions intensities would help ease the transition for emissions-intensive trading partners. It is also important to consider how to apply BCAs across countries with different approaches to emissions mitigation. BCAs are challenging because they pose legal risks and may be at odds with the differentiated responsibilities of developing countries. Furthermore, BCAs provide only modest incentives for other large emitting countries to scale carbon pricing—an international carbon price floor would be far more effective in this regard.
Carbon Pricing For Energy Transition And Decarbonization
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Author : Asian Development Bank
language : en
Publisher: Asian Development Bank
Release Date : 2022-11-01
Carbon Pricing For Energy Transition And Decarbonization written by Asian Development Bank and has been published by Asian Development Bank this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-11-01 with Science categories.
Carbon pricing is an integral element of the climate policy architecture that can help countries reduce emissions cost-effectively, achieve climate targets articulated under their nationally determined contributions, and raise ambition over time. This study provides insights on how well-designed carbon pricing instruments can be woven into climate policies to accelerate efforts toward energy transition and decarbonization. Targeted at policymakers, it aims to help countries design and implement carbon pricing instruments tailored to their national circumstances and priorities that create low-cost, sustainable energy systems capable of boosting resilience and driving long-term growth.
Fiscal Policy Options To Accelerate Emissions Reductions In
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Author : Nate Vernon
language : en
Publisher: International Monetary Fund
Release Date : 2023-03-02
Fiscal Policy Options To Accelerate Emissions Reductions In written by Nate Vernon and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-03-02 with Business & Economics categories.
Belgium’s current policies fall short of achieving its climate targets and promoting emissions reductions at limited economic costs. We recommend that domestic carbon pricing form the centerpiece of an emissions reduction package, as pricing promotes mitigation at the lowest economic cost, can be phased in as international energy prices fall, and generates revenue to compensate vulnerable households and reduce taxes on productive activities. Sectoral policies, such as subsidy-tax schemes to promote low emissions vehicles, should reinforce carbon pricing and regional efforts, while the social protection system can be made more efficient and environmentally friendly by switching from energy subsidies to income-based support. Belgium should also promote dialogue at the EU-level to harmonize ETS prices and include all sectors under a single trading scheme.
Singapore Synthesis The Innovation Inclusion Inspiration
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Author : Ravi Menon
language : en
Publisher: World Scientific
Release Date : 2022-04-27
Singapore Synthesis The Innovation Inclusion Inspiration written by Ravi Menon and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-04-27 with Political Science categories.
Ravi Menon is the Institute of Policy Studies' 9th S R Nathan Fellow for the Study of Singapore. This book is an edited collection of his four IPS-Nathan Lectures, delivered in July 2021, and includes highlights of his question-and-answer segments with our virtual audience.Mr Menon examines how Singapore will come under pressure from four tectonic shifts altering the global landscape. Although still relevant, Singapore's guiding ethos of adaptation, meritocracy, and pragmatism may no longer be sufficient. To secure our future, we will need more innovation, inclusion, and inspiration. What does an innovative economy look like? What does it take to create a more inclusive society? What does it mean to be an inspiring nation? How does it all hold together in a refreshed Singapore Synthesis?The IPS-Nathan Lecture series was launched in 2014 as part of the S R Nathan Fellowship for the Study of Singapore. It seeks to advance public understanding and discussion of issues of critical national interest for Singapore.
A Green And Global Europe
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Author : Nathalie Tocci
language : en
Publisher: John Wiley & Sons
Release Date : 2022-10-14
A Green And Global Europe written by Nathalie Tocci and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-10-14 with Political Science categories.
After years of existential crisis, Europe has found a new raison d’être: the European Green Deal and the energy transition that lies at its core. This green Europe represents a normative vision, an economic growth strategy, as well as a route to a political Union that would enhance EU integration and legitimacy. But it can only be realized if it addresses head-on the social, economic, political and geopolitical ramifications of this epochal change. In A Green and Global Europe, Nathalie Tocci explains how the unprecedented nature of the current energy transition represents both a unique opportunity and a huge challenge to Europe’s future prosperity. The EU, she argues, must not act in isolation or ignore the adverse effects of the transition on Member States and neighbours. It must also address the global cleavages that may arise with China, the transatlantic relationship and the Global South as a result of the EU’s green agenda. By adopting a truly global approach to the energy transition, Europe can deliver on its responsibilities to people and planet alike, and avoid unleashing social, economic and security problems that could come biting back at the Union.
Green And Sustainable Finance
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Author : Simon Thompson
language : en
Publisher: Kogan Page Publishers
Release Date : 2023-03-03
Green And Sustainable Finance written by Simon Thompson and has been published by Kogan Page Publishers this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-03-03 with Business & Economics categories.
To achieve society's goals, as set out in the UN Sustainable Development Goals and the Paris Agreement, the finance sector has a crucial role to play in driving sustainable business and the transition to a net zero economy. To achieve this change, it is vital for the finance sector to allocate capital to the firms, investments and activities looking to create a more sustainable world. Green and Sustainable Finance offers a comprehensive guide to green and sustainable principles and practice in banking, investment and insurance to help finance professionals manage sustainability risks and support their clients and customers in transition. Given the need for urgent, rapid and sustained change, it is essential that all finance professionals understand and apply these principles so that every professional financial decision takes account of sustainability. Written by the CEO of the Chartered Banker Institute this fully updated second edition includes the most recent assessments of climate science from the IPCC, extended coverage of sustainability reporting and carbon accounting, and regulatory and market developments in sustainability risk management. It also features material on the rapid growth of sustainable lending and investment and the latest finance sector alliances and initiatives. Endorsed by the Chartered Banker Institute as the core text for the global benchmark Certificate in Green and Sustainable Finance, this book is essential reading for finance professionals, university students and individuals working to embed sustainability in business, finance, policy and regulation.
Oecd Series On Carbon Pricing And Energy Taxation Pricing Greenhouse Gas Emissions Turning Climate Targets Into Climate Action
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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2022-11-03
Oecd Series On Carbon Pricing And Energy Taxation Pricing Greenhouse Gas Emissions Turning Climate Targets Into Climate Action written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-11-03 with categories.
Accelerating the transition to net zero greenhouse gas (GHG) emissions is urgently required to contain the risks of climate change. As countries seek to reduce GHG emissions, they can employ or reform a wide range of policy instruments. This report tracks how explicit carbon prices, energy taxes and subsidies have evolved between 2018 and 2021.
Energy Security And The Green Transition
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Author : Jaden Kim
language : en
Publisher: International Monetary Fund
Release Date : 2024-01-12
Energy Security And The Green Transition written by Jaden Kim and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-01-12 with Business & Economics categories.
The current energy crisis has raised important policy questions on how to strengthen short-term energy security while remaining firmly committed to the green transition, a challenge amplified by the recent consensus at COP28 to transition away from fossil fuels. This paper examines the historical determinants of the security of energy supply and analyzes the green transition implications for energy security. Looking back, we find that the diversification of energy trade partners, or the lack thereof, was the main factor that underpinned energy security dynamics within and across countries over the last two decades. Looking ahead, the green transition is expected to have a net positive effect on energy security provided investments are aligned to address new challenges posed by the increased reliance on renewables.