Arbeitspapier
Reconsidering Climate Mitigation Policy in the UK
The UK has pledged to cut greenhouse gases 68 percent below 1990 levels by 2030, to be emissions 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.
- Sprache
-
Englisch
- Erschienen in
-
Series: CESifo Working Paper ; No. 8920
- Klassifikation
-
Wirtschaft
Energy: Government Policy
Climate; Natural Disasters and Their Management; Global Warming
Environmental Economics: Government Policy
Taxation and Subsidies: Externalities; Redistributive Effects; Environmental Taxes and Subsidies
- Thema
-
climate change
net-zero
UK climate mitigation
carbon pricing
feebate
international carbon price floor
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Arregui, Nicolas
Parry, Ian
- Ereignis
-
Veröffentlichung
- (wer)
-
Center for Economic Studies and Ifo Institute (CESifo)
- (wo)
-
Munich
- (wann)
-
2021
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Arregui, Nicolas
- Parry, Ian
- Center for Economic Studies and Ifo Institute (CESifo)
Entstanden
- 2021
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