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 72 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.
Download or read book Norway written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2023-07-26 with total page 69 pages. Available in PDF, EPUB and Kindle. Book excerpt: After strong performance in 2022, some deceleration in growth is expected, given geopolitical headwinds and tightening of financial conditions, including globally. Risks are balanced, and there is ample policy space in the short term to accommodate downside surprises. However, leveraging its strong fundamentals, Norway is encouraged to focus on the longer-term structural agenda, given soon-to-be-pressing issues with demographics.
Download or read book Climate Change Challenges and Opportunities in Latin America and the Caribbean written by Anna Ivanova and published by International Monetary Fund. This book was released on 2024-07-19 with total page 187 pages. Available in PDF, EPUB and Kindle. Book excerpt: The analysis in the book suggests that LAC countries are facing substantial challenges related to climate change but have tools at their disposal to seize the opportunities that the climate change presents. To maximize opportunities and minimize the risks LAC countries will need to improve flexibility and adaptability of their economies. Policies aimed at supporting the reallocation of labor and capital across sectors, investing in basic skills and human capital, improving transparency and economic governance to encourage investment in technology and know-how, and creating fiscal space to manage the climate transition would help LAC countries position themselves to take advantage of the opportunities afforded by the climate transition.
Download or read book Balancing Environmental Fiscal and Welfare Impacts of Transportation Decarbonization in France written by Nate Vernon and published by International Monetary Fund. This book was released on 2024-07-12 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: France has taken a leadership role in global mitigation and made significant progress towards reducing greenhouse gas emissions, but further efforts will be needed to meet domestic mitigation targets. Accelerating emissions reductions from road transportation will be a key part of this strategy, as they account for nearly one-third of national emissions. At the same time, with the shift to more lightly taxed electric vehicles over the next decade, fiscal revenue from the sector is projected to decline and externalities, such as congestion, to worsen. Building on existing policies, a comprehensive reform that combines revenue-neutral continuous feebate schemes with a gradual introduction of road user and congestion charges could support mitigation targets, while maintaining revenue and regulating externalities. This paper discusses administratively feasible options to introduce such policies as well as key welfare and distributional considerations.
Download or read book Policies to Address Climate Change written by Geoffrey N. Keim and published by International Monetary Fund. This book was released on 2024-02-05 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: While the near-term priorities are national defense and macroeconomic stabilization, gradually incorporating climate change considerations into policy design will become increasingly important after the war and into the long term. As regards climate change adaptation, investments will need to be made with a view to maintain long-term debt sustainability. Policy reforms will also be needed to move to a low-emissions economy to deliver international commitments and achieve the broader objective of European Union accession. Potential exists to deliver on climate priorities alongside implementing recovery and reconstruction efforts, while maintaining macroeconomic stability, and ensuring social protection and equity.
Download or read book The Green Frontier Assessing the Economic Implications of Climate Action written by JEAN PISANI-FERRY and published by Peterson Institute for International Economics. This book was released on 2024-06-03 with total page 530 pages. Available in PDF, EPUB and Kindle. Book excerpt: Addressing climate change will entail major challenges for economic growth, employment, inflation, and public finances. Mitigating the impact of global warming will yield benefits and costs that are yet to be quantified and defined for the global economy and for nations, workers, households, and companies. The Green Frontier: Assessing the Economic Implications of Climate Action offers research originally presented at a major conference at the Peterson Institute for International Economics in June 2023 in Washington, DC, organized to shed light on this still unexplored field of study and recommend policies for the future.
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.
Download or read book The Nexus of Climate and Monetary Policy Evidence from the Middle East and Central Asia written by Nordine Abidi and published by International Monetary Fund. This book was released on 2024-04-26 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the effects of climate shocks on inflation and monetary policy in the Middle East and Central Asia (ME&CA) region. We first introduce a theoretical model to understand the impact of climate risks on headline and food inflation. In particular, the model shows how climate shocks could affect the path of policy rates through food prices. We then use local projections to estimate the impact of climate shocks on headline and food inflation. The results show that price stability is more easily achievable under positive climate conditions. Overall, our findings shed new light on the importance of considering climate-related supply shocks when designing monetary policy, particularly in countries where food makes up a significant part of the CPI-basket.
Download or read book Ukraine written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2023-12-11 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: Ukraine: Selected Issues
Download or read book Cryptocarbon How Much Is the Corrective Tax written by Mr. Shafik Hebous and published by International Monetary Fund. This book was released on 2023-09-15 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: With increasing awareness of past environmental damage from crypto mining, questions arise as to how persistent the problem will be in the future and how taxation can help in addressing this negative externality. We estimate that the global demand for electricity by crypto miners reached that of Australia or Spain, resulting in 0.33% of global CO2 emissions in 2022. Projections suggest sustained future electricity demand and indicate further increases in CO2 emissions if crypto prices significantly increase and the energy efficiency of mining hardware is low. To address global warming, we estimate the corrective excise on the electricity used by crypto miners to be USD 0.045 per kWh, on average. Considering also air pollution costs raises the tax to USD 0.087 per kWh. Country-specific estimates vary depending on their electricity sources.
Download or read book Principality of Andorra written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2024-03-06 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: Principality of Andorra: Selected Issues
Download or read book Cyprus written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2024-05-28 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cyprus: Selected Issues
Download or read book Republic of North Macedonia written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2024-01-26 with total page 59 pages. Available in PDF, EPUB and Kindle. Book excerpt: Republic of North Macedonia: Selected Issues
Download or read book Waiting for Godot The Case for Climate Change Adaptation and Mitigation in Small Island States written by Mr. Serhan Cevik and published by International Monetary Fund. This book was released on 2022-09-09 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global warming is the most significant threat to ecosystems and people’s health and living standards, especially in small island states in the Caribbean and elsewhere. This paper contributes to the debate by analyzing different options to scale up climate change mitigation and adaptation. In particular, the empirical analysis indicates that increasing energy efficiency and reducing the use of fossil fuel in electricity generation could lead to a significant reduction in carbon emissions, while investing in physical and financial resilience would yield long-run benefits. From a risk-reward perspective, the advantages of reducing the risks associated with climate change and the health benefits from higher environmental quality clearly outweigh the potential cost of climate change mitigation and adaptation in the short run. The additional revenue generated by environmental taxes could be used to compensate the most vulnerable households, building a multilayered safety net, and strengthening structural resilience.
Download or read book Sleepwalking to the Cliff Edge A Wake up Call for Global Climate Action written by Mr. Simon Black and published by International Monetary Fund. This book was released on 2024-10-10 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: Urgent action to cut greenhouse gas (GHG) emissions is needed now. Early next year, all countries will set new emissions targets for 2035 while revising their 2030 targets. Global GHGs must be cut by 25 and 50 percent below 2019 levels by 2030 to limit global warming to 2°C and 1.5°C respectively. But current targets would only cut emissions by 12 percent, meaning global ambition needs to be doubled to quadrupled. Further delay will lead to an ‘emissions cliff edge’, implying implausible cuts in GHGs and putting put 1.5°C beyond reach. This Note provides IMF staff’s annual assessment of global climate mitigation policy. It illustrates options for equitably aligning country targets with the Paris Agreement’s temperature goals. It also provides guidance on modelling needed to set emissions targets and quantify climate mitigation policy impacts.
Download or read book Is the Paris Agreement Working A Stocktake of Global Climate Mitigation written by Mr. Simon Black and published by International Monetary Fund. This book was released on 2023-11-21 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book A Framework for Comparing Climate Mitigation Policies Across Countries written by Mr. Simon Black and published by International Monetary Fund. This book was released on 2022-12-16 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
