Carbon Pricing for Climate Action

Carbon Pricing for Climate Action

Carbon prices are needed to incorporate climate change costs into economic decision making. Carbon pricing should be included as part of a broader arsenal of tools to achieve domestic climate targets, but it is not a silver bullet: other policy ins...

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Bibliographic Details
Main Author: World Bank Group
Format: Report
Language:English
Published: World Bank, Washington, DC 2021
Subjects:
CLIMATE CHANGE
CARBON PRICING
CARBON POLICY
CLIMATE CHANGE MITIGATION
GREENHOUSE GAS EMISSIONS
EMISSIONS TRADING
Online Access:http://documents.worldbank.org/curated/en/725801627450789550/Carbon-Pricing-for-Climate-Action
http://hdl.handle.net/10986/36080
id okr-10986-36080
recordtype oai_dc
spelling okr-10986-360802021-08-10T05:10:40Z Carbon Pricing for Climate Action World Bank Group CLIMATE CHANGE CARBON PRICING CARBON POLICY CLIMATE CHANGE MITIGATION GREENHOUSE GAS EMISSIONS EMISSIONS TRADING Carbon prices are needed to incorporate climate change costs into economic decision making. Carbon pricing should be included as part of a broader arsenal of tools to achieve domestic climate targets, but it is not a silver bullet: other policy instruments and investments (for example, public transport, power transmission infrastructure) are needed to complement carbon pricing and to enable consumers to respond to higher prices by switching to lower emission alternatives. A carbon tax can be effective in smaller economies with human capacity constraints and in jurisdictions with well-established and transparent tax frameworks. Emission trading systems may be chosen by larger, more established, and market-linked economies with political economy barriers to tax reform. Successful carbon pricing reforms require integrating many stakeholders’ considerations and increasing the capacity of governments and domestic businesses. The World Bank Group, through its climate change action plan, is well positioned to leverage its convening power, knowledge and research, and country program support to help countries make informed decisions on carbon pricing policies, their design, and implementation. 2021-08-09T13:38:10Z 2021-08-09T13:38:10Z 2021-07-28 Report http://documents.worldbank.org/curated/en/725801627450789550/Carbon-Pricing-for-Climate-Action http://hdl.handle.net/10986/36080 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work Economic & Sector Work :: Other Environmental Study
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
topic CLIMATE CHANGE
CARBON PRICING
CARBON POLICY
CLIMATE CHANGE MITIGATION
GREENHOUSE GAS EMISSIONS
EMISSIONS TRADING
spellingShingle CLIMATE CHANGE
CARBON PRICING
CARBON POLICY
CLIMATE CHANGE MITIGATION
GREENHOUSE GAS EMISSIONS
EMISSIONS TRADING
World Bank Group
Carbon Pricing for Climate Action
description Carbon prices are needed to incorporate climate change costs into economic decision making. Carbon pricing should be included as part of a broader arsenal of tools to achieve domestic climate targets, but it is not a silver bullet: other policy instruments and investments (for example, public transport, power transmission infrastructure) are needed to complement carbon pricing and to enable consumers to respond to higher prices by switching to lower emission alternatives. A carbon tax can be effective in smaller economies with human capacity constraints and in jurisdictions with well-established and transparent tax frameworks. Emission trading systems may be chosen by larger, more established, and market-linked economies with political economy barriers to tax reform. Successful carbon pricing reforms require integrating many stakeholders’ considerations and increasing the capacity of governments and domestic businesses. The World Bank Group, through its climate change action plan, is well positioned to leverage its convening power, knowledge and research, and country program support to help countries make informed decisions on carbon pricing policies, their design, and implementation.
format Report
author World Bank Group
author_facet World Bank Group
author_sort World Bank Group
title Carbon Pricing for Climate Action
title_short Carbon Pricing for Climate Action
title_full Carbon Pricing for Climate Action
title_fullStr Carbon Pricing for Climate Action
title_full_unstemmed Carbon Pricing for Climate Action
title_sort carbon pricing for climate action
publisher World Bank, Washington, DC
publishDate 2021
url http://documents.worldbank.org/curated/en/725801627450789550/Carbon-Pricing-for-Climate-Action
http://hdl.handle.net/10986/36080
_version_ 1764484384869580800

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