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International Monetary Fund. Asia and Pacific Dept

greenhouse gas (GHG) emissions 24.4 percent below 2017 levels by 2030. Many specific policy measures to make headway on these objectives are already implemented or have been announced, including Korea’s Emissions Trading System (ETS)—the largest in scale outside the EU—covering about three quarters of domestic emissions; the recently announced Green New Deal (GND), which is a component of the KND; standards for the average emission rates of vehicle sales fleets and tax exemptions for EVs and HVs; and a renewable portfolio standard (RPS) requiring generators to increase

Mr. Nicolas Arregui, Ian W.H. Parry, and Ms. Dora M Iakova

, they can play a reinforcing role when carbon pricing is subject to acceptability constraints. Third, they may be needed to meet sectoral targets that are more ambitious than nationwide targets. Feebates are a promising reinforcing instrument . Feebates provide a (revenue-neutral) sliding scale of fees on products or activities with above average emission rates and a sliding scale of rebates for products or activities with below average emission rates. They can provide strong incentives to reduce emissions intensity without (unlike fuel taxes or carbon pricing) a

Ian W.H. Parry, Mr. Dirk Heine, Eliza Lis, and Shanjun Li

potentially exposed populations. In the denominator, Q is the emission rate of the primary pollutant in tons per day. The intake fraction is defined as average pollution inhaled per unit of emissions released, and is usually expressed as grams of PM 2.5 inhaled per ton of primary emissions. Meteorological conditions (most notably wind speed and direction), topography (e.g., proximity to mountain barriers that may block pollution dispersion), and ambient ammonia concentrations (which catalyze atmospheric reactions of SO 2 and NO x ). For long

Nicoletta Batini, Ian Parry, and Mr. Philippe Wingender

, for 47 tropical countries under the REDD+ Readiness program (see www.forestcarbonpartnership.org/readiness-fund-0 ). Over time the program might be expanded to include carbon stored in soils as metering technologies evolve. 29 More expensive vehicles pay more tax, but CO 2 emission rates are only loosely related to vehicle prices. 30 For example, postponing timber harvesting, planting of larger trees, thinning to increase forest growth, fertilizing. See Parry (2020) for more discussion on the rationale for, and design of, feebates for the forestry

International Monetary Fund. European Dept.