A Framework for Comparing Climate Mitigation Policies Across Countries

By Simon Black, Danielle N Minnett, Ian W.H. Parry, James Roaf, Karlygash Zhunussova

December 16, 2022

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Format: Chicago

Simon Black, Danielle N Minnett, Ian W.H. Parry, James Roaf, and Karlygash Zhunussova. A Framework for Comparing Climate Mitigation Policies Across Countries, (USA: International Monetary Fund, 2022) accessed November 21, 2024

Disclaimer: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Summary

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.

Subject: Climate policy, Environment, Fuel tax, Greenhouse gas emissions, Taxes

Keywords: Africa, Annex B. policy equivalence, BAU emissions projection, Carbon price equivalence, Climate mitigation policy, Climate policy, Emission rate standard, Emissions impact, Emissions reductions, Fuel tax, Fuel taxes, G20, Global, Greenhouse gas emissions, Industry emissions target, Mitigation approach, Non-pricing instrument, Policy instrument, Policy package, Reductions from Policites, Sectoral target, Temperature aligned mitigation.

Publication Details

Pages:

39
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2022/254
Stock No:

WPIEA2022254
ISBN:

9798400228285
ISSN:

1018-5941

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