2022-12-15-IMF-A_Framework_for_Comparing_Climate_Mitigation_Policies_Across_Countries_39页_1mb

A Framework for Comparing Climate Mitigation Policies Across Countries

Abstract: This paper presents a methodology to compare and quantify the environmental impacts of diverse climate policies and targets across countries using their equivalent carbon price. The framework enables international assessments for monitoring compliance with international climate agreements like the Paris Agreement. By converting various climate policies into a common carbon price metric, the analysis facilitates clear comparisons of mitigation effort.

Key Findings:

• Countries primarily rely on carbon pricing schemes, fuel taxes, and non-pricing policies to achieve their emissions targets.
• Explicit carbon pricing is widespread but often insufficient to meet targets under the Paris Agreement. Many countries have relatively low carbon prices, which may hinder global emissions reduction.
• Non-pricing policies (such as renewable energy subsidies, emission regulations, and fuel taxes) can be highly effective and are critical complements to carbon pricing. Their effectiveness varies by sector and region.
• A uniform equivalence framework is essential for fair international climate policies.
• Current policy measures face challenges regarding transparency, inconsistency, and a significant gap between existing measures and the ambitious environmental goals required under climate targets. Further international coordination and policy improvements are needed to align with global climate goals.