Fiscal Policies To Address Climate Change In Asia And The Pacific
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Fiscal Policies to Address Climate Change in Asia and the Pacific by Ms.Era Dabla-Norris,Mr.James Daniel,Mr.Masahiro Nozaki,Cristian Alonso,Vybhavi Balasundharam,Mr.Matthieu Bellon,Chuling Chen,David Corvino,Mr.Joey Kilpatrick Pdf
Climate change is one of the greatest challenges facing policymakers worldwide, and the stakes are particularly high for Asia and the Pacific. This paper analyzes how fiscal policy can address challenges from climate change in Asia and the Pacific. It aims to answer how policymakers can best promote mitigation, adaptation, and the transition to a low-carbon economy, emphasizing the economic and social implications of reforms, potential policy trade-offs, and country circumstances. The recommendations are grounded in quantitative analysis using country-specific estimates, and granular household, industry, and firm-level data.
Environmental Taxation in China and Asia-Pacific by Hope Ashiabor,Larry Kreiser,Julsuchada Sirisom,J E Milne Pdf
'Environmental Taxation in China and Asia-Pacific contains a rich collection of papers addressing issues of vital importance to policy formulation in a spectrum of environmental areas. While not everyone would agree to all that is said in each of the papers, the book will certainly trigger fruitful debates. It is also a great source of information on environmental policy developments in major economies that will need to play an increasing role in addressing major issues such as climate change mitigation.' Nils Axel Braathen, Principal Administrator OECD, Environment Directorate 'Another outstanding volume on environmental taxation, this time with focus on China and the Asia-Pacific. Legal, economic and policy contributions offer great insight in the present situation and future developments in this fascinating part of the world.' Kurt Deketelaere, K.U. Leuven, Belgium, University of Dundee, UK and University of Qatar Environmental Taxation in China and Asia-Pacific contains an integrated set of detailed chapters providing insights and analysis on how fiscal policy can be used to achieve environmental sustainability. Highly topical chapters include energy tax policy in China, environmental fiscal reform, carbon tax policy in northeast Asia and environmental taxation strategies in China, Asia and Australia, as well as many other relevant topics. Written by distinguished environmental taxation scholars from around the world, the emphasis of this book is on finding solutions to environmental problems which merit serious consideration by policy makers as well as academics in environmental law and other academic disciplines.
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 Development and Climate Action by Miria A. Pigato Pdf
This report provides actionable advice on how to design and implement fiscal policies for both development and climate action. Building on more than two decades of research in development and environmental economics, it argues that well-designed environmental tax reforms are especially valuable in developing countries, where they can reduce emissions, increase domestic revenues, and generate positive welfare effects such as cleaner water, safer roads, and improvements in human health. Moreover, these reforms need not harm competitiveness. New empirical evidence from Indonesia and Mexico suggests that under certain conditions, raising fuel prices can actually increase firm productivity. Finally, the report discusses the role of fiscal policy in strengthening resilience to climate change. It provides evidence that preventive public investments and measures to build fiscal buffers can help safeguard stability and growth in the face of rising climate risks. In this way, environmental tax reforms and climate risk-management strategies can lay the much-needed fiscal foundation for development and climate action.
International Monetary Fund. Asia and Pacific Dept
Author : International Monetary Fund. Asia and Pacific Dept Publisher : International Monetary Fund Page : 17 pages File Size : 41,5 Mb Release : 2019-09-18 Category : Business & Economics ISBN : 9781513514321
Bangladesh by International Monetary Fund. Asia and Pacific Dept Pdf
This Selected Issues paper summarizes achievements of the authorities to date and describes several options to support their ongoing efforts. The economic impact of climate change on Bangladesh is likely to become more pronounced. The outlook for Bangladesh is a source of concern, with experts from the Intergovernmental Panel on Climate Change predicting that a rise in sea levels and coastal erosion could lead to a loss of 17 percent of land surface and 30 percent of food production by 2050. Responding effectively to the impact of climate change depends on designing an appropriate set of fiscal policies. These can play a key role in mobilizing both public and private sources of finance for mitigation and adaptation activities. A second priority for Bangladesh is to raise domestic revenue from its current low base, including through introduction of a carbon tax. By helping establish a predictable price for carbon emissions, carbon taxes also provide clear incentives to promote investments in emissions-saving technologies. Although opponents argue that such taxes harm economic activity and slow job creation, the revenue they generate may over time be used to reduce other distorting taxes on labor and capital.
Economic and Fiscal Impacts of Disasters in the Pacific by Asian Development Bank Pdf
Pacific island countries need to build their fiscal and economic resilience to climate change and natural disasters as these have lasting consequences on their livelihoods, economies, and fiscal balances. Climate change and natural disasters can have lasting consequences on livelihoods, economies, and fiscal balances-spanning immediate reconstruction costs and fiscal shocks to long-term halts in tourism and agriculture economies. Globally, the most exposed to these impacts are the Pacific island countries. The Asian Development Bank is working closely with its Pacific developing member countries to prepare for and respond to the effects of climate change and natural hazards. This publication examines the often-overlooked dimension of resilience planning-how to brace economies for shocks caused by climate change and hazard events. It analyzes the exposure and vulnerability of Pacific economies to disaster events and outlines key resources for building fiscal and economic resilience.
Climate Change Policies in the Asia-Pacific by Institute for Global Environmental Strategies Pdf
This second IGES White Paper is a summary of current climate change policies in the Asia-Pacific region and new recommendations, based on strategic research carried out at IGES so far. The Asia-Pacific is experiencing rapid economic development and, as well as being a major contributor to greenhouse gas emissions, it is feared that the region will suffer the worst impact. Climate change is the most urgent problem facing the international community and in pursuing a post-2012 framework, attention is focused on ways to deal with climate change in Asia Pacific countries. This White Paper proposes climate strategies that fully take into account the needs of developing countries in Asia and the Pacific. It looks at the impact of climate change in the Asia-Pacific region and current policies from various aspects such as international framework, market mechanisms, forestry, biofuels, waste, water and business, and sets out policy recommendations that integrate climate change policies and sustainable development and shows the way for new development towards the realisation of a low-carbon society.
Climate Change in South Asia: Further Need for Mitigation and Adaptation by Ruchir Agarwal,Vybhavi Balasundharam,Patrick Blagrave,Mr. Eugenio M Cerutti,Ragnar Gudmundsson,Racha Mousa Pdf
The South Asia region is both a large contributor to climate change and also one of the regions most vulnerable to climate change. This paper provides an overview of the region’s vulnerabilities, national committments to mitigate emissions, and national policies to adapt to a changing climate. The paper also discusses policy measures that may be needed to make further progress on both mitigation and adapatation. Our analysis suggests that while substantial progress is being made, there remains scope to adopt a more cohesive strategy to achieve the region’s goals—including by improving the monitoring and tracking of adaptation spending, and by laying the groundwork to equitably increase the effective price of carbon while protecting low-income and vulnerable households in the region.
Climate-Sensitive Management of Public Finances—"Green PFM” by Mr. Fabien Gonguet,Mr. Claude P Wendling,Ozlem Aydin Sakrak,Bryn Battersby Pdf
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.
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 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.
The Distributional Impact of a Carbon Tax in Asia and the Pacific by Cristian Alonso,Mr. Joey Kilpatrick Pdf
While a carbon tax is widely acknowledged as an efficient policy to mitigate climate change, adoption has lagged. Part of the challenge resides in the distributional implications of a carbon tax and a belief that it tends to be regressive. Even when not regressive, poor households could be hurt by a carbon tax, particularly in countries that rely heavily on carbon-intensive energy sources. Using household surveys, we study how a carbon tax may affect households in the Asia Pacific region, the main source of CO2 emissions. We document a wide range of country-specific policies that could be implemented to compensate households, reduce inequality, and build support for adoption.
Unlocking Climate Finance in Asia-Pacific by Cheng Hoon Lim,Ms. Ritu Basu,Mr. Yan Carriere-Swallow,Kenichiro Kashiwase,Mahmut Kutlukaya,Mike Li,Ehraz Refayet,Dulani Seneviratne,Mouhamadou Sy,Ruihua Yang Pdf
The transition to a sustainable future in the Asia-Pacific region has global economic significance. Despite driving global growth in recent years, the region's heavy coal reliance led to significant greenhouse gas emissions. Meeting climate mitigation and adaptation needs in emerging and developing Asia requires investment of at least $1.1 trillion annually. Actual investment falls short by about $800 billion. Asia-Pacific’s environmental performance has also hampered its ability to tap into private flows from the fast-growing ESG asset class, keeping the cost of issuing sustainable debt instruments relatively high compared to other regions. This paper provides an overview of the climate finance ecosystem in countries in the Asia-Pacific region and presents strategies to mobilize climate finance for the region’s transition to a sustainable future. The paper identifies challenges, including gaps in the climate information architecture, policy conflicts, global complexities, and emphasizes the need for coordinated action involving governments, central banks, financial supervisors, the IMF, and other multilateral institutions. In particular, • Governments need to establish a well-defined climate strategy with strong institutional oversight and coordination to strengthen the framework on data, taxonomies, and disclosures. Fossil fuel subsidies should be phased out and carbon pricing schemes expanded to create fiscal space for sustainable investments. Strengthening macroeconomic management is essential to attract private capital. • Financial supervisors and central banks should coordinate across jurisdictions to promote global, interoperable disclosure standards, enhance climate risk analysis and reporting, and incorporate climate-related financial risks into prudential frameworks. Developing climate labels for sustainable investment funds and shifting the focus of ESG scores to better capture sustainability and climate impact would foster trust in the evaluations. The IMF can drive climate action by integrating discussions in surveillance activities and strengthening data and statistics—including through capacity building and peer learning—to develop common standards around climate risk measurement and analysis. The Resilience and Sustainability Trust could contribute to reducing financing gaps through its catalytic and reform supporting functions, while multilateral development banks could scale up grant financing and concessional lending, and where appropriate adopt risk-mitigating mechanisms to expand lending capacity. Cooperation among multilateral institutions is essential to align efforts and resources to achieve a balanced allocation between mitigation and adaptation lending.
Author : Asian Development Bank Publisher : Asian Development Bank Page : 117 pages File Size : 54,9 Mb Release : 2017-03-01 Category : Science ISBN : 9789292576646
Economics of Climate Change Mitigation in Central and West Asia by Asian Development Bank Pdf
Ecological complexity and diverse ecosystems give Central and West Asia rich natural resources and hydrocarbon reserves. Countries in this region are exposed to climate change risks, and there is growing recognition that their carbon-intensive economies necessitate greenhouse gas mitigation. This report assesses the costs, benefits, and investment opportunities for greenhouse gas reduction in the energy and transport sectors of Azerbaijan, Kazakhstan, and Uzbekistan, and discusses indirect benefits of such reduction to human health and energy security. It gives policymakers, practitioners, and academics an overview of policy measures and technologies available for emission reduction, as well as scenarios of future emission trajectories in the three countries.
Author : Asian Development Bank Publisher : Asian Development Bank Page : 201 pages File Size : 49,9 Mb Release : 2015-09-01 Category : Science ISBN : 9789292570781
Economic Analysis of Climate-Proofing Investment Projects by Asian Development Bank Pdf
Climate change represents an increasing threat to the continued development of the people, preservation of ecosystems, and economic growth of Asia and the Pacific. Mainstreaming climate risk management in all aspects of development is thus key to an effective transition to climate-resilient development pathways. ADB's climate risk management framework aims to reduce risks resulting from climate change to investment projects in Asia and the Pacific. A key step in this framework is the technical and economic valuation of climate-proofing measures. This report describes the conduct of the cost-benefit analysis of climate proofing investment projects. An important message is that the presence of uncertainty about climate change does not invalidate the conduct of the economic analysis of investment projects, nor does it require a new type of economic analysis. However, the presence of uncertainty does require a different type of decision-making process in which technical and economic expertise combine to present decision makers with the best possible information on the economic efficiency of alternative designs of investment projects.
Unlocking Access to Climate Finance for Pacific Island Countries by Ms. Manal Fouad,Natalija Novta,Gemma Preston,Todd Schneider,Sureni Weerathunga Pdf
This departmental paper provides an in-depth overview of access to climate finance for Pacific Island Countries, evaluating successes and challenges faced by countries and proposes a way forward to unlock access to climate funds.
