Scaling Up Climate Mitigation Policy In Germany
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Scaling Up Climate Mitigation Policy In Germany
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Author : Mr. Simon Black
language : en
Publisher: International Monetary Fund
Release Date : 2021-09-27
Scaling Up Climate Mitigation Policy In Germany written by Mr. Simon Black 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.
Germany has set national greenhouse emissions targets of a 65 percent reduction below 1990 levels by 2030 and net zero emissions by 2045, along with various sectoral emissions goals. To achieve these targets, the government has introduced multi-pronged policy measures, including a national emissions trading system (ETS), which complements the ETS at the EU level. This paper shows the substantial variation in the price responsiveness of emissions across sectors and thus prices implied by sectoral targets. It proposes the following measures to help Germany meet emissions targets with greater certainty and cost effectiveness: (i) further strengthening carbon pricing, for example through automatically rising price floors for the national ETS after 2026; (ii) harmonizing carbon pricing to reduce cross-sector differences in marginal abatement costs; and (iii) introducing feebates (revenue neutral taxsubsidy schemes) to reinforce incentives at the sectoral level. The paper also studies the distributional impact of higher carbon pricing and suggests that reducing social security contributions can mitigate the regressive direct impact of higher carbon pricing on lowerincome households. Concerns with carbon leakages and firms’ competitiveness are best addressed through agreeing on an international carbon price floor.
The Imf World Bank Climate Policy Assessment Tool Cpat A Model To Help Countries Mitigate Climate Change
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Author : Mr. Simon Black
language : en
Publisher: International Monetary Fund
Release Date : 2023-06-23
The Imf World Bank Climate Policy Assessment Tool Cpat A Model To Help Countries Mitigate Climate Change written by Mr. Simon Black 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 2023-06-23 with Business & Economics categories.
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.
Climate Mitigation Policy In T Rkiye
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Author : Ian W.H. Parry
language : en
Publisher: International Monetary Fund
Release Date : 2023-05-12
Climate Mitigation Policy In T Rkiye 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 2023-05-12 with Business & Economics categories.
This paper discusses potential elements of a comprehensive strategy for making headway on Türkiye’s net zero emissions pedge for 2053. These elements include: (i) aligning 2030 emissions commitments with long term neutrality; (ii) implementing a carbon price rising to an ilustrative $75 per tonne by 2030; (iii) enhancing acceptability through using carbon pricing revenues efficiently and equitably and including competitveness measures; (iv) introducing various feebate schemes (the fiscal analogue of regulations) to reinforce mitigation incentives in the power, industry, transport, building, forestry, and agricultural sectors. According to modelling results a phased revenue-neutral $75 carbon price reduces CO2 emisisons 21 percent below baseline levels in 2030, raises revenues of 1.7 percent of GDP, avoids 11,000 air pollution deaths over the decade, while imposing an average burden on households of 3 percent of their consumption (before revenue-recycling). With revenues used for targeted transfers and labor tax reductions the overall policy is pro-poor and pro-equity (average household is better off by 0.4 percent).
Macroeconomic And Financial Policies For Climate Change Mitigation A Review Of The Literature
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Author : Signe Krogstrup
language : en
Publisher: International Monetary Fund
Release Date : 2019-09-04
Macroeconomic And Financial Policies For Climate Change Mitigation A Review Of The Literature written by Signe Krogstrup 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 2019-09-04 with Business & Economics categories.
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.
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.
A Comprehensive Climate Mitigation Strategy For Mexico
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Author : Mr. Simon Black
language : en
Publisher: International Monetary Fund
Release Date : 2021-10-18
A Comprehensive Climate Mitigation Strategy For Mexico written by Mr. Simon Black 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 2021-10-18 with Business & Economics categories.
This paper discusses a comprehensive strategy for implementing Mexico’s climate mitigation commitments. Progressively increasing carbon prices from current levels of US$3 per ton to US$75 per ton by 2030 would achieve Mexico’s mitigation pledges, while raising annual revenues of 1.8 percent of GDP and cumulatively averting 11,600 deaths from local air pollution. The carbon price would raise fossil fuel and electricity prices, imposing burdens of 2.7 percent of consumption on the average Mexican household. However, recycling carbon pricing revenues would offset most of this burden, and targeted transfers could make the reform pro-poor and pro-equity. Additionally, the economic efficiency costs of carbon pricing (0.3 percent of GDP in 2030) are more than offset by local air pollution and other domestic environmental benefits (before even counting climate benefits). Mexico would need a more ambitious 2030 target if it were to follow many other countries in adopting a midcentury ‘net-zero’ emissions target. To enhance the effectiveness of the mitigation strategy, carbon pricing can be reinforced with sectoral instruments, such as feebates in the transport, power, industry, building, forestry, extractive, and agricultural sectors. Complementary policies are also needed to support public investment in the clean energy transition.
Belgium
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Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2023-03-02
Belgium written by International Monetary 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: Selected Issues
Oecd Economic Surveys Germany 2023
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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2023-05-08
Oecd Economic Surveys Germany 2023 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 2023-05-08 with categories.
After a decade of strong export-led growth, decreasing unemployment and fiscal surpluses, the COVID-19 pandemic and the energy crisis have revealed structural vulnerabilities and emphasised the need for accelerating the green and digital transitions. At the same time, rapid population ageing increases public spending pressures and exacerbates skilled labour shortages.
Scaling Up Nature Based Solutions To Tackle Water Related Climate Risks Insights From Mexico And The United Kingdom
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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2021-04-20
Scaling Up Nature Based Solutions To Tackle Water Related Climate Risks Insights From Mexico And The United Kingdom 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 2021-04-20 with categories.
This report provides an assessment of the use of, and recommendations for scaling up, Nature-based Solutions to address water-related climate risks.
Making Climate Policy Work
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Author : Danny Cullenward
language : en
Publisher: John Wiley & Sons
Release Date : 2020-10-07
Making Climate Policy Work written by Danny Cullenward 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 2020-10-07 with Political Science categories.
For decades, the world’s governments have struggled to move from talk to action on climate. Many now hope that growing public concern will lead to greater policy ambition, but the most widely promoted strategy to address the climate crisis – the use of market-based programs – hasn’t been working and isn’t ready to scale. Danny Cullenward and David Victor show how the politics of creating and maintaining market-based policies render them ineffective nearly everywhere they have been applied. Reforms can help around the margins, but markets’ problems are structural and won’t disappear with increasing demand for climate solutions. Facing that reality requires relying more heavily on smart regulation and industrial policy – government-led strategies – to catalyze the transformation that markets promise, but rarely deliver.