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Policy Options for Climate Mitigation: Emissions Trading Schemes in Asia-Pacific
Author:
Margaux MacDonald
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Ian W.H. Parry https://isni.org/isni/0000000404811396 International Monetary Fund

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Series:
IMF Working Papers
Volume/Issue:
Volume 2024: Issue 155
Language:
English
Publication Date:
19 Jul 2024
DOI:
https://doi.org/10.5089/9798400282188.001
ISBN:
9798400282188
ISSN:
1018-5941
Pages:
32
Keywords:
Emissions trading scheme; climate; Asia; mitigation instrument; climate mitigation strategy; mitigation opportunity; Asia-Pacific country; policy reform; transmission company; Carbon tax; Greenhouse gas emissions; Non-wage benefits; Asia and Pacific; Global
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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Large reductions in global emissions are needed for the world to be on track to meet global temperature goals. Asia-Pacific countries have a critical role in emissions reduction given their large and rising share in global emissions. This paper discusses the main opportunities and behavioral responses for reducing emissions, and commonly used mitigation instruments. It then considers key design issues for carbon pricing, with a focus on emissions trading schemes (ETS), describes measures to overcome the obstacles to carbon pricing, and discusses experiences with carbon pricing relevant for Asia-Pacific economies. Lastly, the paper covers complementary policy reforms, including reinforcing mitigation instruments, public investment, fuel tax reform, green industrial policies, and supporting reforms to the energy sector. Carbon pricing, including ETSs can be the centerpiece of climate mitigation strategies for most countries, particularly if ETSs are designed to mimic some of the administrative and economic attractions of carbon taxes and implemented appropriately.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund