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You are looking at 1 - 10 of 11 items for :

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Cover IMF Working Papers
Reconsidering Climate Mitigation Policy in the UK
Mr. Nicolas Arregui and Ian Parry
The UK has pledged to cut greenhouse gases 57 percent below 1990 levels by 2030, to be emisisons neutral by 2050, and to phase out internal combustion engine vehicles by 2030. Much progress has been made, but fully achieving these ambitious objectives with the current policy framework will be challenging as it involves multiple and overlapping pricing schemes with significant sectoral differences in carbon prices and may be difficult to scale up on political and administrative grounds. This paper discusses an alternative framework consisting of: (i) a comprehensive carbon price (ideally a tax) rising to at least £60 (US $75) per ton by 2030; and (ii) reinforcing sectoral policies, most importantly feebates for the transport, industrial, and building sectors. This framework could implement mitigation targets, while limiting burdens on households and firms to enhance acceptability, and still raise revenues of 0.8 percent of GDP in 2030. The UK could also leverage its COP26 presidency to promote dialogue on international carbon price floors and pricing of international transport emissions.
Keywords:
net-zero; UK climate mitigation; carbon pricing; feebate; international carbon price floor.; WP; emissions price; emission rate; equivalent emissions outcome; emissions intensity; industry emission; transport sector emission; Climate change; international carbon price floor; efficiency cost; waste emission; price uncertainty; consumption emission; fugitive emission; emissions source; Carbon tax; Greenhouse gas emissions; Public expenditure review; Transportation; Global
Cover IMF Working Papers
Climate Mitigation Policy in Denmark: A Prototype for Other Countries
Nicoletta Batini, Ian Parry, and Mr. Philippe Wingender
Denmark has a highly ambitious goal of reducing greenhouse gas emissions 70 percent below 1990 levels by 2030. While there is general agreement that carbon pricing should be the centerpiece of Denmark’s mitigation strategy, pricing needs to be effective, address equity and leakage concerns, and be reinforced by additional measures at the sectoral level. The strategy Denmark develops can be a good prototype for others to follow. This paper discusses mechanisms to scale up domestic carbon pricing, compensate households, and possibly combine pricing with a border carbon adjustment. It also recommends the use of revenue-neutral feebate schemes to strengthen mitigation incentives, particularly for transportation and agriculture, fisheries and forestry, though these schemes could also be applied more widely.
Keywords:
Denmark climate mitigation; carbon pricing; feebate; revenue recycling; border carbon adjustment; transportation; agriculture.; WP; emission rate; EU ETS; emissions price; sliding scale; greenhouse gas; proxy emissions fee; Climate change; agriculture; energy price; mitigation target; nitrogen oxide emission; Carbon tax; Greenhouse gas emissions; Consumption; Global
Cover Regional Economic Outlook, April 2020, Sub-Saharan Africa
Regional Economic Outlook, April 2020, Sub-Saharan Africa
International Monetary Fund. African Dept.

Abstract

To come when report is received.

Keywords:
REO; IMF staff calculation; economic activity; Sub-Saharan Africa; price
Cover Regional Economic Outlook, April 2020, Sub-Saharan Africa
Regional Economic Outlook, April 2020, Sub-Saharan Africa
COVID-19: An Unprecedented Threat to Development
International Monetary Fund. African Dept.

Abstract

Sub-Saharan Africa is facing an unprecedented health and economic crisis that threatens to throw the region off its stride, reversing the encouraging development progress of recent years. Furthermore, by exacting a heavy human toll, upending livelihoods, and damaging business and government balance sheets, the crisis threatens to retard the region’s growth prospects in the years to come. Previous crises tended to impact affect countries in the region differentially, but no country will be spared this time.

Keywords:
REO; IMF staff calculation; economic activity; Sub-Saharan Africa; price; forest cover increases rainwater infiltration; World Bank enterprise survey; submarine cable; climate change challenge; terms of trade; tech firm; climate change Policy Assessment; sub-Saharan Africa use email; financing adaptation; rainfall anomaly; Natural disasters; Climate change; Infrastructure; Digitalization; Africa; Global; Southern Africa; East Africa
Cover Regional Economic Outlook, April 2020, Sub-Saharan Africa
Regional Economic Outlook, April 2020, Sub-Saharan Africa
International Monetary Fund. African Dept.

Abstract

To come when report is received.

Keywords:
REO; IMF staff calculation; economic activity; Sub-Saharan Africa; price
Cover Regional Economic Outlook, April 2020, Sub-Saharan Africa
Regional Economic Outlook, April 2020, Sub-Saharan Africa
COVID-19: An Unprecedented Threat to Development
International Monetary Fund. African Dept.

Abstract

Sub-Saharan Africa is facing an unprecedented health and economic crisis that threatens to throw the region off its stride, reversing the encouraging development progress of recent years. Furthermore, by exacting a heavy human toll, upending livelihoods, and damaging business and government balance sheets, the crisis threatens to retard the region’s growth prospects in the years to come. Previous crises tended to impact affect countries in the region differentially, but no country will be spared this time.

Keywords:
REO; IMF staff calculation; economic activity; Sub-Saharan Africa; price; forest cover increases rainwater infiltration; World Bank enterprise survey; submarine cable; climate change challenge; terms of trade; tech firm; climate change Policy Assessment; sub-Saharan Africa use email; financing adaptation; rainfall anomaly; Climate change; Natural disasters; COVID-19; Digitalization; Africa; Global; Southern Africa; East Africa
Cover IMF Working Papers
Disposal is Not Free: Fiscal Instruments to Internalize the Environmental Costs of Solid Waste
Ms. Thornton Matheson
This paper provides an overview of global solid waste generation, its environmental costs, and fiscal instruments that can be used to encourage waste reduction and finance proper disposal. Countries—especially island nations--struggle to manage an ever-increasing volume of solid waste, generation of which is projected to exceed 2 billion tons a year by 2025. Although solid waste management is usually relegated to subnational governments, externalities from inadequate management, which include greenhouse gas emissions and ocean plastic pollution, reach global scale. National governments thus play a critical role in creating incentives for waste minimization and ensuring adequate resources for proper waste management. This paper evaluates potential fiscal instruments to achieve these goals, particularly in developing country policy environments.
Keywords:
WP; waste disposal; property tax; disposal cost; generation rate; government waste management plan; local government; environmental tax; solid waste; plastic bag tax; recycling; landfill tax; tipping fee; advance disposal fee; deposit-refund; extended producer responsibility; virgin material tax; waste generation; Income; Consumption; Public expenditure review; Greenhouse gas emissions; Global; Africa
Cover IMF Working Papers
How Much Carbon Pricing is in Countries’ Own Interests? The Critical Role of Co-Benefits
Ian W.H. Parry, Mr. Chandara Veung, and Mr. Dirk Heine
This paper calculates, for the top twenty emitting countries, how much pricing of carbon dioxide (CO2) emissions is in their own national interests due to domestic co-benefits (leaving aside the global climate benefits). On average, nationally efficient prices are substantial, $57.5 per ton of CO2 (for year 2010), reflecting primarily health co-benefits from reduced air pollution at coal plants and, in some cases, reductions in automobile externalities (net of fuel taxes/subsidies). Pricing co-benefits reduces CO2 emissions from the top twenty emitters by 13.5 percent (a 10.8 percent reduction in global emissions). However, co-benefits vary dramatically across countries (e.g., with population exposure to pollution) and differentiated pricing of CO2 emissions therefore yields higher net benefits (by 23 percent) than uniform pricing. Importantly, the efficiency case for pricing carbon’s co-benefits hinges critically on (i) weak prospects for internalizing other externalities through other pricing instruments and (ii) productive use of carbon pricing revenues.
Keywords:
WP; price; net; pricing; carbon pricing; co-benefits; air pollution; fuel taxes; top twenty emitters; fuel price elasticity; uniform price; price responsiveness; welfare cost; cross-price effect; price-gap concept; net benefit; responsiveness of fuel use; mitigation cost; countries price carbon; Carbon tax; Greenhouse gas emissions; Non-renewable resources; Public expenditure review; Fuel prices; Global; Africa
Cover Getting Energy Prices Right
Getting Energy Prices Right
From Principle to Practice
Ian W.H. Parry, Mr. Dirk Heine, Eliza Lis, and Shanjun Li

Abstract

Energy taxes can produce substantial environmental and revenue benefits and are an important component of countries’ fiscal systems. Although the principle that these taxes should reflect global warming, air pollution, road congestion, and other adverse environmental impacts of energy use is well established, there has been little previous work providing guidance on how countries can put this principle into practice. This book develops a practical methodology, and associated tools, to show how the major environmental damages from energy can be quantified for different countries and used to design the efficient set of energy taxes.

Keywords:
BOOK; tax; environmental damage assessment; environmental damage; country; policy reform; country-by-country damage assessments; corrective tax; congestion cost; Fuel tax; Non-renewable resources; Public expenditure review; Global; North America; Africa; Western Europe
Cover Policy Papers
Fuel and Food Price Subsidies - Issues and Reform Options
International Monetary Fund
Government price subsidies are pervasive in developed, emerging, and low-income countries. A subsidy is a form of government intervention resulting in a deviation of an actual price facing consumers and producers from a specified benchmark price. Subsidies affect consumption and production patterns as well as the distribution of resources, with important implications for the budget, expenditure composition, and long-term growth. They can and often do involve fiscal costs, but not all affect government fiscal accounts in the same way. Price subsidies have spillover effects onto prices and quantities in domestic, regional, or global markets. This paper discusses the key issues and policy options in the reform of subsidies for fossil fuels and selected food commodities, and their implications for the work of the Fund.
Keywords:
PP; subsidy reform; price subsidy; country authorities; OECD country; fuel subsidy; world price; low income; Income; Consumption; Inflation; Energy subsidies; Non-renewable resources; Global