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A Framework for Comparing Climate Mitigation Policies Across Countries

Author

Listed:
  • Mr. Simon Black
  • Danielle N Minnett
  • Ian W.H. Parry
  • Mr. James Roaf
  • Karlygash Zhunussova
Abstract
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.

Suggested Citation

  • Mr. Simon Black & Danielle N Minnett & Ian W.H. Parry & Mr. James Roaf & Karlygash Zhunussova, 2022. "A Framework for Comparing Climate Mitigation Policies Across Countries," IMF Working Papers 2022/254, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2022/254
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=527049
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    Citations

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    Cited by:

    1. Bellora, Cecilia & Fontagné, Lionel, 2023. "EU in search of a Carbon Border Adjustment Mechanism," Energy Economics, Elsevier, vol. 123(C).
    2. Rabaa, Simon Valentin, 2023. "Homo irrationalis and climate change mitigation: Behavioral economic approaches to climate-relevant behavior change," EconStor Theses, ZBW - Leibniz Information Centre for Economics, number 279671, September.

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