Fiscal Policies For Paris Climate Strategies From Principle To Practice
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Fiscal Policies for Paris Climate Strategies—from Principle to Practice by International Monetary Fund. Fiscal Affairs Dept. Pdf
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.
Fiscal Policies for Paris Climate Strategies—from Principle to Practice by International Monetary Fund. Fiscal Affairs Dept. Pdf
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.
"Beyond the Ledger: Enhancing Global Sustainability through Data-Driven Accounting Frameworks" by FAROOQ AZIZ is set to revolutionize the world of sustainable growth and decision-making. With a wealth of experience as a data analytics solution architect, FAROOQ AZIZ has penned a comprehensive guide that explores the potential of utilizing data analytics within an accounting framework to resolve global issues and address business challenges. The book is divided into five main sections that cover a wide range of topics related to global issues and accounting techniques. It begins by introducing readers to global issues and the UN's Sustainable Development Goals. From there, it delves into the impact and challenges of global issues and the importance of accounting framework and data analytics in solving them. The book also provides an overview of accounting framework and data analytics, discussing its role in decision-making and benefits in various sectors such as healthcare, retail, and financial services. The enhancement of accounting framework with data analytics techniques is also explored in detail, along with case studies demonstrating its effectiveness in different industries. Finally, the book discusses solutions for global issues with enhanced accounting framework, including reducing carbon emissions, promoting social equality, and managing natural resources. The potential impact of data analytics on decision-making in addressing global issues is also analyzed, and the book provides case studies demonstrating the use of enhanced accounting framework in solving global issues. This book is a must-read for anyone interested in sustainable growth and decision-making. It provides a comprehensive and detailed guide to enhancing accounting framework with data analytics techniques, with real-world examples and case studies. It is ideal for professionals in the accounting and finance industry, policymakers, and academics in the field of sustainability and global issues. FAROOQ AZIZ's expertise in the industry makes this book an innovative and groundbreaking guide to solving global issues through the lens of accounting and data analytics.
Fiscal Policy Options to Accelerate Emissions Reductions in by Nate Vernon Pdf
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.
Economic and Environmental Benefits from International Cooperation on Climate Policies by Jean Chateau,Ms. Florence Jaumotte,Gregor Schwerhoff Pdf
This paper discusses and analyzes various international mechanisms to scale up global action on climate mitigation and address the policy gap in this area. Despite the new commitments made at COP 26, there is still an ambition and a policy gap at the global level to keep temperature increases below the 2°C agreed in Paris. Avoiding the worst outcomes of climate change requires an urgent scaling up of climate policies. Recent policy proposals include the idea of common minimum carbon prices, which underlie the IMF’s international carbon price proposal (Parry, Black, and Roaf 2021) and the climate club proposal of the German government. While global carbon prices are not a new idea, the new elements are the use of carbon price floors—which allow countries to do more if they wish—and the differentiation of carbon price floors by level of development. In the absence of international coordination, countries with ambitious climate policies are considering introducing a border carbon adjustment mechanism to prevent domestic producers from being at a competitive disadvantage due to more ambitious domestic climate policies. An interesting question from the global perspective is whether border carbon adjustment would deliver substantial additional emissions reductions or incentivize other countries to join a carbon price floor agreement.
Taxing Energy Use 2019 Using Taxes for Climate Action by OECD Pdf
Taxing Energy Use (TEU) 2019 presents a snapshot of where countries stand in deploying energy and carbon taxes, tracks progress made, and makes actionable recommendations on how governments could do better. The report contains new and original data on energy and carbon taxes in OECD and G20 countries, and in international aviation and maritime transport.
Handbook of Business and Climate Change by Anant K. Sundaram,Robert G. Hansen Pdf
Summarizing the current state of knowledge on the links between business and climate change, this timely Handbook analyzes how businesses contribute to and are affected by climate change, looking closely at their centrality in developing and deploying solutions to address this problem. Contributions from a global collection of scholars and practitioners explore a broad range of key industries’ impacts and responses to climate change, examining corporate strategy and leadership in the climate economy, functional perspectives and corporate practice, and climate finance.
Macroeconomic and Financial Policies for Climate Change Mitigation: A Review of the Literature by Signe Krogstrup,William Oman Pdf
Climate change is one of the greatest challenges of this century. Mitigation requires a largescale 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.
Climate Change in Sub-Saharan Africa Fragile States: Evidence from Panel Estimations by Mr. Rodolfo Maino,Drilona Emrullahu Pdf
Fragile states in sub-Saharan Africa (SSA) face challenges to respond to the effects of climate shocks and rising temperatures. Fragility is linked to structural weaknesses, government failure, and lack of institutional basic functions. Against this setup, climate change could add to risks. A panel fixed effects model (1980 to 2019) found that the effect of a 1◦C rise in temperature decreases income per capita growth in fragile states in SSA by 1.8 percentage points. Panel quantile regression models that account for unobserved individual heterogeneity and distributional heterogeneity, corroborate that the effects of higher temperature on income per capita growth are negative while the impact of income per capita growth on carbon emissions growth is heterogeneous, indicating that higher income per capita growth could help reduce carbon emissions growth for high-emitter countries. These findings tend to support the hypothesis behind the Environmental Kuznets Curve and the energy consumption growth literature, which postulates that as income increases, emissions increase pari passu until a threshold level of income where emissions start to decline.
Business and Policy Solutions to Climate Change by Thomas Walker,Stefan Wendt,Sherif Goubran,Tyler Schwartz Pdf
This edited book aims to ignite both an academic and practitioner-oriented discussion regarding the question how the business and government sector can adapt to today’s fast-changing climate. Specifically, the collection seeks to explore how businesses and policy makers can prepare for a world where freshwater is scarce, extreme weather events are common, floods and wildfires are frequent, and global sea levels rise by more than two meters. In addition to assessing incremental approaches, it explores strategies that employ interdisciplinary and innovative solutions to climate change adaptation. The chapters included in this book examine and propose business and policy solutions for climate-induced economic, technical, urban, and societal challenges. It draws on an international range of prominent authors and, therefore, will be of interest for academics and practitioners working in the field of sustainability management, sustainable finance, sustainable operations management, food management, strategy, and environmental management. It can also serve as a valuable guide for practitioners and policymakers in those fields.
Is the Paris Agreement Working? A Stocktake of Global Climate Mitigation by Mr. Simon Black,Ian W.H. Parry,Karlygash Zhunussova Pdf
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.
Mr. Simon Black,Koralai Kirabaeva,Ian Parry,Mr. Mehdi Raissi,Karlygash Zhunussova
Author : Mr. Simon Black,Koralai Kirabaeva,Ian Parry,Mr. Mehdi Raissi,Karlygash Zhunussova Publisher : International Monetary Fund Page : 53 pages File Size : 45,6 Mb Release : 2021-10-18 Category : Business & Economics ISBN : 9781513599847
A Comprehensive Climate Mitigation Strategy for Mexico by Mr. Simon Black,Koralai Kirabaeva,Ian Parry,Mr. Mehdi Raissi,Karlygash Zhunussova Pdf
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.
Fiscal Monitor, October 2019 by International Monetary Fund. Fiscal Affairs Dept. Pdf
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 purpose of this volume, bringing together key actors of the well-being community, including scholars and policy-makers, is to advance the understanding and undertaking of the well-being transition away from growth and toward resilience and sustainability, at a time when this progress has become a vital necessity. A decade after the publication of the Stiglitz Report (2009), alternative visions to GDP and growth, that flourished in the 1970s, have re-emerged from all corners of the world, at all levels of governance. Yet, GDP and growth remain very much dominant in defining public policies, influencing businesses and shaping imaginaries. This book moves forward on two urgent tasks that stand before us in order to make progress in the well-being transition: first, connecting well-being to sustainability in a consistent framework highlighting their complementarity, using health as a pivot; second, operationalizing well-being indicators, i.e. integrating them into policy at all levels of governance.
Cutting Emissions and Budget Deficits for a Post-Pandemic World by Roth, Joachim,Bridle, Richard,Gerasimchuk, Ivetta,Merrill, Laura Pdf
Available online: https://norden.diva-portal.org/smash/record.jsf?pid=diva2:1456194 In 2020, the long-term crisis of climate change has been temporarily overshadowed by the COVID-19 emergency, pushing many governments into deep budget deficits. As countries mobilize funds to fight the pandemic and bolster their economies, it cannot be ignored that whatever measures are put in place to recover from the current crisis must not undermine efforts to tackle the longer term threat of climate change. Article 2.1.c of the Paris Agreement on climate change: “making finance flows consistent with a pathway toward low greenhouse gas emissions and climate-resilient development”, applies just as much now as before. This working paper explores how two fiscal tools, fossil fuel subsidies (FFS) and carbon pricing — putting a price on greenhouse gas (GHG) emissions through taxation or carbon markets, influence the signal sent to the market to align economic development with climate constraints. Fossil fuel subsidies act as a negative price on carbon and increase the risk of locking investment in fossil fuels that are incompatible with the low-carbon transition required to meet the Paris Agreement’s objectives. As we document in the report, the current coverage and levels of carbon pricing are also deeply insufficient to meet the goals of the Paris Agreement limiting the increase of the global average temperature to “well below 2°C” while “pursuing efforts to limit the temperature increase to 1.5 degrees C. This Working Paper explores the interplay between FFS reform and carbon pricing at the international and national levels. We note that effective carbon pricing, promoted by the Organisation for Economic Co-operation and Development and the International Monetary Fund, is a valuable tool to send effective carbon mitigation signals to the market. However, without including the impact of fossil fuel subsidies, these analyses present only a partial picture. These findings highlight the importance of increasing implicit and explicit carbon prices and reforming fossil fuel subsidies. In the context of the COVID-19 emergency, it is essential that governments, in a hurry to take action to boost their economies, don’t overlook the need to keep recovery stimulus policies aligned with climate goals.