Mitigation Policies for the Paris Agreement: An Assessment for G20 Countries

Mitigation Policies for the Paris Agreement: An Assessment for G20 Countries

Author: Ian Parry

Publisher: International Monetary Fund

Published: 2018-08-30

Total Pages: 56

ISBN-13: 1484373847

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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.


Mitigation Policies for the Paris Agreement: An Assessment for G20 Countries

Mitigation Policies for the Paris Agreement: An Assessment for G20 Countries

Author: Ian Parry

Publisher: International Monetary Fund

Published: 2018-08-30

Total Pages: 56

ISBN-13: 1484375068

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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.


Macroeconomic and Financial Policies for Climate Change Mitigation: A Review of the Literature

Macroeconomic and Financial Policies for Climate Change Mitigation: A Review of the Literature

Author: Signe Krogstrup

Publisher: International Monetary Fund

Published: 2019-09-04

Total Pages: 58

ISBN-13: 1513511955

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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.


Investing in Climate, Investing in Growth

Investing in Climate, Investing in Growth

Author: OECD

Publisher: OECD Publishing

Published: 2017-05-23

Total Pages: 314

ISBN-13: 9264273522

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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.


Fiscal Monitor, October 2019

Fiscal Monitor, October 2019

Author: International Monetary Fund. Fiscal Affairs Dept.

Publisher: International Monetary Fund

Published: 2019-10-10

Total Pages: 96

ISBN-13: 1513515322

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This report emphasizes the environmental, fiscal, economic, and administrative case for using carbon taxes, or similar pricing schemes such as emission trading systems, to implement climate mitigation strategies. It provides a quantitative framework for understanding their effects and trade-offs with other instruments and applies it to the largest advanced and emerging economies. Alternative approaches, like “feebates” to impose fees on high polluters and give rebates to cleaner energy users, can play an important role when higher energy prices are difficult politically. At the international level, the report calls for a carbon price floor arrangement among large emitters, designed flexibly to accommodate equity considerations and constraints on national policies. The report estimates the consequences of carbon pricing and redistribution of its revenues for inequality across households. Strategies for enhancing the political acceptability of carbon pricing are discussed, along with supporting measures to promote clean technology investments.


The Fight for Climate After COVID-19

The Fight for Climate After COVID-19

Author: Alice C. Hill

Publisher: Oxford University Press

Published: 2021

Total Pages: 273

ISBN-13: 0197549705

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"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." --


Governing Climate Change

Governing Climate Change

Author: Andrew Jordan

Publisher: Cambridge University Press

Published: 2018-05-03

Total Pages: 407

ISBN-13: 1108304745

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Climate change governance is in a state of enormous flux. New and more dynamic forms of governing are appearing around the international climate regime centred on the United Nations Framework Convention on Climate Change (UNFCCC). They appear to be emerging spontaneously from the bottom up, producing a more dispersed pattern of governing, which Nobel Laureate Elinor Ostrom famously described as 'polycentric'. This book brings together contributions from some of the world's foremost experts to provide the first systematic test of the ability of polycentric thinking to explain and enhance societal attempts to govern climate change. It is ideal for researchers in public policy, international relations, environmental science, environmental management, politics, law and public administration. It will also be useful on advanced courses in climate policy and governance, and for practitioners seeking incisive summaries of developments in particular sub-areas and sectors. This title is also available as Open Access on Cambridge Core.


Achieving the Paris Climate Agreement Goals

Achieving the Paris Climate Agreement Goals

Author: Sven Teske

Publisher: Springer

Published: 2019-02-01

Total Pages: 535

ISBN-13: 3030058433

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This open access book presents detailed pathways to achieve 100% renewable energy by 2050, globally and across ten geographical regions. Based on state-of-the-art scenario modelling, it provides the vital missing link between renewable energy targets and the measures needed to achieve them. Bringing together the latest research in climate science, renewable energy technology, employment and resource impacts, the book breaks new ground by covering all the elements essential to achieving the ambitious climate mitigation targets set out in the Paris Climate Agreement. For example, sectoral implementation pathways, with special emphasis on differences between developed and developing countries and regional conditions, provide tools to implement the scenarios globally and domestically. Non-energy greenhouse gas mitigation scenarios define a sustainable pathway for land-use change and the agricultural sector. Furthermore, results of the impact of the scenarios on employment and mineral and resource requirements provide vital insight on economic and resource management implications. The book clearly demonstrates that the goals of the Paris Agreement are achievable and feasible with current technology and are beneficial in economic and employment terms. It is essential reading for anyone with responsibility for implementing renewable energy or climate targets internationally or domestically, including climate policy negotiators, policy-makers at all levels of government, businesses with renewable energy commitments, researchers and the renewable energy industry. Part 2 of this title can be found at this Link: https://link.springer.com/book/10.1007/978-3-030-99177-7


Fiscal Policies for Paris Climate Strategies—from Principle to Practice

Fiscal Policies for Paris Climate Strategies—from Principle to Practice

Author: International Monetary Fund. Fiscal Affairs Dept.

Publisher: International Monetary Fund

Published: 2019-05-01

Total Pages: 109

ISBN-13: 1498311717

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This paper discusses the role of, and provides practical country-level guidance on, fiscal policies for implementing climate strategies using a unique and transparent tool laying out trade-offs among policy options.


Climate-Sensitive Management of Public Finances—"Green PFM”

Climate-Sensitive Management of Public Finances—

Author: Mr. Fabien Gonguet

Publisher: International Monetary Fund

Published: 2021-08-11

Total Pages: 21

ISBN-13: 1513583042

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Public financial management (PFM) consists of all the government’s institutional arrangements in place to facilitate the implementation of fiscal policies. In response to the growing urgency to fight climate change, “green PFM” aims at adapting existing PFM practices to support climate-sensitive policies. With the cross-cutting nature of climate change and wider environmental concerns, green PFM can be a key enabler of an integrated government strategy to combat climate change. This note outlines a framework for green PFM, emphasizing the need for an approach combining various entry points within, across, and beyond the budget cycle. This includes components such as fiscal transparency and external oversight, and coordination with state-owned enterprises and subnational governments. The note also identifies principles for effective implementation of a green PFM strategy, among which the need for a strong stewardship located within the ministry of finance is paramount.