Not Yet On Track To Net Zero The Urgent Need For Greater Ambition And Policy Action To Achieve Paris Temperature Goals

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Not Yet on Track to Net Zero: The Urgent Need for Greater Ambition and Policy Action to Achieve Paris Temperature Goals

Author : Mr. Simon Black
Publisher : International Monetary Fund
ISBN 13 : 1557754403
Total Pages : 33 pages
Book Rating : 4.5/5 (577 download)

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Book Synopsis Not Yet on Track to Net Zero: The Urgent Need for Greater Ambition and Policy Action to Achieve Paris Temperature Goals by : Mr. Simon Black

Download or read book Not Yet on Track to Net Zero: The Urgent Need for Greater Ambition and Policy Action to Achieve Paris Temperature Goals written by Mr. Simon Black and published by International Monetary Fund. This book was released on 2021-10-31 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: Achieving the Paris Agreement’s temperature goals requires cutting global CO2 emissions 25 to 50 percent this decade, followed by a rapid transition to net zero emissions. The world is currently not yet on track so there is an urgent need to narrow gaps in climate mitigation ambition and policy. Current mitigation pledges for 2030 would achieve just one to two thirds of the emissions reductions needed for limiting warming to 1.5 to 2oC. And additional measures equivalent to a global carbon price exceeding $75 per ton by 2030 are needed. This IMF Staff Climate Note presents extensive quantitative analyses to inform dialogue on closing mitigation ambition and policy gaps. It shows purely illustrative pathways to achieve the needed global emissions reductions while respecting international equity. The Note also presents country-level analyses of the emissions, fiscal, economic, and distributional impacts of carbon pricing and the trade-offs with other instruments—comprehensive mitigation strategies will be key.

The IMF-World Bank Climate Policy Assessment Tool (CPAT): A Model to Help Countries Mitigate Climate Change

Author : Mr. Simon Black
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 73 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis The IMF-World Bank Climate Policy Assessment Tool (CPAT): A Model to Help Countries Mitigate Climate Change by : Mr. Simon Black

Download or read book The IMF-World Bank Climate Policy Assessment Tool (CPAT): A Model to Help Countries Mitigate Climate Change written by Mr. Simon Black and published by International Monetary Fund. This book was released on 2023-06-23 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt: To stabilize the climate, global greenhouse gas emissions must be cut by 25 to 50 percent by 2030 compared to 2019. Such an unprecedented rate of decarbonization necessitates climate mitigation policies across countries, notably carbon pricing, fossil fuel subsidy reform, renewable subsidies, feebates, emission rate regulations, and public investments. To design and implement effective, efficient, and equitable policies, governments need tools to assess economic, environmental, fiscal, and social impacts. To support this effort, the IMF and World Bank are making their joint Climate Policy Assessment Tool (CPAT) available to governments. CPAT is a transparent, flexible, and user-friendly model covering over 200 countries. It allows for the rapid quantification of impacts of climate mitigation policies, including on energy demand, prices, emissions, revenues, welfare, GDP, households and industries, local air pollution and health, and many other metrics. This paper describes the CPAT model, its data sources, key assumptions, and caveats.

Economic and Environmental Benefits from International Cooperation on Climate Policies

Author : Jean Chateau
Publisher : International Monetary Fund
ISBN 13 : 1616358300
Total Pages : 50 pages
Book Rating : 4.6/5 (163 download)

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Book Synopsis Economic and Environmental Benefits from International Cooperation on Climate Policies by : Jean Chateau

Download or read book Economic and Environmental Benefits from International Cooperation on Climate Policies written by Jean Chateau and published by International Monetary Fund. This book was released on 2022-03-17 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Climate Change Mitigation and Policy Spillovers in the EU’s Immediate Neighborhood

Author : Mr. Serhan Cevik
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 39 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis Climate Change Mitigation and Policy Spillovers in the EU’s Immediate Neighborhood by : Mr. Serhan Cevik

Download or read book Climate Change Mitigation and Policy Spillovers in the EU’s Immediate Neighborhood written by Mr. Serhan Cevik and published by International Monetary Fund. This book was released on 2023-12 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: EU’s neighborhood countries (EUN) have lagged the EU on emissions mitigation; coal-heavy power generation and industrial sectors are a key factor. They have also trailed EU countries in emissions mitigation policies since 2000, with little use of market-based instruments, and they still have substantial fossil fuel subsidies. Increasingly stringent EU mitigation policies are asociated with lower emissions in EUN. Overall output effects of the CBAM, in its current form, would be limited, though exports and emissions-intensive industries could be heavily impacted. A unilaterally adopted economywide carbon tax of $75 per ton would significantly lower emissions by 2030, with minimal consequences for output or household welfare, though a safety net for the affected workers may be necessary. To become competitive today by attracting green FDI and technology, overcoming infrastructure constraints and integrating into EU’s supply chains, EUN countries would be well served to front load decarbonization, rather than postpone it for later.

Public Perceptions of Climate Mitigation Policies

Author : Ms. Era Dabla-Norris
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 33 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis Public Perceptions of Climate Mitigation Policies by : Ms. Era Dabla-Norris

Download or read book Public Perceptions of Climate Mitigation Policies written by Ms. Era Dabla-Norris and published by International Monetary Fund. This book was released on 2023-02-09 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: Building public support for climate mitigation is a key prerequisite to making meaningful strides toward implementing climate mitigation policies and achieving decarbonization. Using nationally representative individual-level surveys for 28 countries, this note sheds light on the individual characteristics and beliefs associated with climate risk perceptions and preferences for climate policies.

Slovak Republic

Author : International Monetary Fund. European Dept.
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 33 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis Slovak Republic by : International Monetary Fund. European Dept.

Download or read book Slovak Republic written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2022-07-08 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: Slovak Republic: Selected Issues

Republic of Kazakhstan: Selected Issues

Author : International Monetary
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis Republic of Kazakhstan: Selected Issues by : International Monetary

Download or read book Republic of Kazakhstan: Selected Issues written by International Monetary and published by International Monetary Fund. This book was released on 2022-04-11 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Republic of Kazakhstan: Selected Issues

Greece: Selected Issues

Author : International Monetary
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 103 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis Greece: Selected Issues by : International Monetary

Download or read book Greece: Selected Issues written by International Monetary and published by International Monetary Fund. This book was released on 2022-06-21 with total page 103 pages. Available in PDF, EPUB and Kindle. Book excerpt: Greece: Selected Issues

Data for a Greener World

Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 231 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis Data for a Greener World by : International Monetary Fund

Download or read book Data for a Greener World written by International Monetary Fund and published by International Monetary Fund. This book was released on 2023-03-15 with total page 231 pages. Available in PDF, EPUB and Kindle. Book excerpt: Data for a Greener World presents a structured discussion on how to measure the economic and financial dimensions of climate change. It combines economic theory and analysis with real world examples of how climate data can be constructed for different country settings, based on existing climate science and economic data. The book identifies important climate data gaps, as well as practical and innovative approaches to close many of these gaps. The book discusses how to track greenhouse gas emission by production and consumption (Chapters 1-2), which lead to physical risks (Chapters 3-4) and transition risks (Chapters 5-7) and concludes with cross-border implications of climate risks (Chapters 8-9). The book also showcases a collaboration of seven international organizations: European Central Bank, Eurostat, International Energy Agency, International Monetary Fund, Organisation for Economic Cooperation and Development, World Bank, and World Trade Organization. Chapter contributions come from leading practitioners and experts in the fields of energy and climate change issues. This volume also serves as a reference guide for the IMF's Climate Change Indicators Dashboard and future research in this area.

Carbon Taxes Or Emissions Trading Systems?

Author : Mr. Simon Black
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 24 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis Carbon Taxes Or Emissions Trading Systems? by : Mr. Simon Black

Download or read book Carbon Taxes Or Emissions Trading Systems? written by Mr. Simon Black and published by International Monetary Fund. This book was released on 2022-07-21 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: Carbon pricing should be a central element of climate mitigation strategies, helping countries transition to ‘net zero’ greenhouse gas emissions over the next three decades. Policymakers considering introducing or scaling up carbon pricing face technical choices between carbon taxes and emissions trading systems (ETSs) and in their design. This includes administration, price levels, relation to other mitigation instruments, use of revenues to address efficiency and distributional objectives, supporting measures to address competitiveness concerns, extension to broader emissions sources, and coordination at the global level. Political economy considerations also affect the choice and design of instruments. This paper discusses such issues in the choice between and design of carbon taxes and ETSs, providing guidance, broader considerations, and quantitative analyses. Overall, carbon taxes have significant practical advantages over ETSs (especially for developing countries) due to ease of administration, price certainty to promote investment, the potential to raise significant revenues, and coverage of broader emissions sources—but ETSs can have significant political economy advantages.

Japan

Author : International Monetary Fund. Asia and Pacific Dept
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 81 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis Japan by : International Monetary Fund. Asia and Pacific Dept

Download or read book Japan written by International Monetary Fund. Asia and Pacific Dept and published by International Monetary Fund. This book was released on 2024-05-13 with total page 81 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Japanese economy continues to grow after the pandemic, with broad-based price increases following three decades of low inflation. The “new form of capitalism” agenda and children-related policies are key priorities for the Kishida administration, but the fiscal burden has increased.

Geo-Economic Fragmentation and the Future of Multilateralism

Author : Mr. Shekhar Aiyar
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 41 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis Geo-Economic Fragmentation and the Future of Multilateralism by : Mr. Shekhar Aiyar

Download or read book Geo-Economic Fragmentation and the Future of Multilateralism written by Mr. Shekhar Aiyar and published by International Monetary Fund. This book was released on 2023-01-15 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: After several decades of increasing global economic integration, the world is facing the risk of policy-driven geoeconomic fragmentation (GEF). This note explores the ramifications. It identifies multiple channels through which the benefits of globalization were earlier transmitted, and along which, conversely, the costs of GEF are likely to fall, including trade, migration, capital flows, technology diffusion and the provision of global public goods. It explores the consequences of GEF for the international monetary system and the global financial safety net. Finally, it suggests a pragmatic path forward for preserving the benefits of global integration and multilateralism

Feeling the Heat: Adapting to Climate Change in the Middle East and Central Asia

Author : Mr. Christoph Duenwald
Publisher : International Monetary Fund
ISBN 13 : 1513591096
Total Pages : 110 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis Feeling the Heat: Adapting to Climate Change in the Middle East and Central Asia by : Mr. Christoph Duenwald

Download or read book Feeling the Heat: Adapting to Climate Change in the Middle East and Central Asia written by Mr. Christoph Duenwald and published by International Monetary Fund. This book was released on 2022-03-30 with total page 110 pages. Available in PDF, EPUB and Kindle. Book excerpt: Climate change is among humanity’s greatest challenges, and the Middle East and Central Asia region is on the frontlines of its human, economic, and physical ramifications. Much of the region is located in already difficult climate zones, where global warming exacerbates desertification, water stress, and rising sea levels. This trend entails fundamental economic disruptions, endangers food security, and undermines public health, with ripple effects on poverty and inequality, displacement, and conflict. Considering the risks posed by climate change, the central message of this departmental paper is that adapting to climate change by boosting resilience to climate stresses and disasters is a critical priority for the region’s economies.

How to Cut Methane Emissions

Author : Ian W.H. Parry
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 28 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis How to Cut Methane Emissions by : Ian W.H. Parry

Download or read book How to Cut Methane Emissions written by Ian W.H. Parry and published by International Monetary Fund. This book was released on 2022-10-31 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: Limiting global warming to 1.5 to 2°C above preindustrial levels requires rapid cuts in greenhouse gas emissions. This includes methane, which has an outsized impact on temperatures. To date, 125 countries have pledged to cut global methane emissions by 30 percent by 2030. This Note provides background on methane emission sources, presents practical fiscal policy options to cut emissions, and assesses impacts. Putting a price on methane, ideally through a fee, would reduce emissions efficiently, and can be administratively straightforward for extractives industries and, in some cases, agriculture. Policies could also include revenue-neutral ‘feebates’ that use fees on dirtier polluters to subsidize cleaner producers. A $70 methane fee among large economies would align 2030 emissions with 2oC. Most cuts would be in extractives and abatement costs would be equivalent to just 0.1 percent of GDP. Costs are larger in certain developing countries, implying climate finance could be a key element of a global agreement on a minimum methane price.

The Unequal Costs of Covid-19 on Well-being in Europe

Author : Louise Dalingwater
Publisher : Springer Nature
ISBN 13 : 3031144252
Total Pages : 209 pages
Book Rating : 4.0/5 (311 download)

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Book Synopsis The Unequal Costs of Covid-19 on Well-being in Europe by : Louise Dalingwater

Download or read book The Unequal Costs of Covid-19 on Well-being in Europe written by Louise Dalingwater and published by Springer Nature. This book was released on 2022-11-04 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume focuses on the wider wellbeing costs within European countries as a result of the outbreak of the pandemic and the control measures implemented thereafter. In particular, it considers to what extent Covid-19 and measures taken to cope with the crisis have weakened economic and social structures across Europe and what effect this has had on people’s lives. While many countries in Europe have reallocated public funding to health care, provided support to SMEs, vulnerable populations and regions hit by the crisis, the wellbeing or welfare costs, considered broadly, are still significant. The authors' assessment thus goes beyond the subjective wellbeing discourse and evaluates to what extent structural weaknesses within economic, social and regional frameworks have deepened. The chapters discuss what policies are needed to address these weaknesses. the volume thus recognises that structural inequalities are a key driver of wellbeing. While there have been a number of publications on wellbeing during the pandemic, the original perspective in each chapter on inequalities and the European focus of this publication provide novel information and insights on the topic.

Chile

Author : International Monetary
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 49 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis Chile by : International Monetary

Download or read book Chile written by International Monetary and published by International Monetary Fund. This book was released on 2023-01-19 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: At the request of the Chilean Minister of Finance, a team from the IMF Fiscal Affairs Department (FAD) conducted a capacity development mission in Santiago to evaluate options to improve green taxes in Chile, as part of a general tax reform presented to Congress in July 2022. The mission reviewed existing carbon taxes in the country, including revenue performance, coverage, and selected design issues. It also discussed changes to green taxes that will take effect in 2023, as well as new mitigation tools introduced in the Framework Law on Climate Change. The mission presented the authorities with four different carbon pricing reform scenarios that would bring Chile closer to or in line with its Nationally Determined Contribution (NDC) for 2030, and the legally binding net-zero pledge for 2050. The mission also stated that additional measures under all proposed scenarios, such as improved energy efficiency policies, introduction of feebates schemes and faster adoption of low and zero emission sources for transport, power, and industry, would further contribute to achieve climate goals. The mission used the Climate Policy Assessment Tool (CPAT) to perform the analysis. The tool was subsequently transferred to the authorities through a four-day hands-on capacity development workshop, which was attended by officials from the Ministries of Finance, Energy, Environment, and Transportation.

Peru

Author : International Monetary Fund. Western Hemisphere Dept.
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 127 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis Peru by : International Monetary Fund. Western Hemisphere Dept.

Download or read book Peru written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2023-03-27 with total page 127 pages. Available in PDF, EPUB and Kindle. Book excerpt: Against the background of a strong economic performance over the last quarter of a century, Peru has been hit by multiple shocks in the last several years. Adequate policies and very strong policy frameworks have made the economy resilient. Following a steep decline in 2020 at the outset of the pandemic and a rapid recovery in 2021, growth slowed significantly in 2022 as the policy stimulus was withdrawn and external and financial conditions deteriorated. Recent political developments suggest that the new government needs to work across the political spectrum to create broader political consensus, reduce uncertainty, ease social tensions, and boost growth.