Urgent and aggressive action to cut greenhouse gas emissions this decade is needed. As countries take stock of the Paris Agreement, this Note provides IMF staff's annual assessment of global climate mitigation policy. Global ambition needs to be more than quadrupled: emissions cuts of 50 percent...

This paper discusses potential elements of a comprehensive strategy for making headway on Türkiye's net zero emissions pedge for 2053. These elements include: (i) aligning 2030 emissions commitments with long term neutrality; (ii) implementing a carbon price rising to an ilustrative $75 per...

The Paris Agreement reaffirmed the commitment to provide USD 100 billion in international climate finance to developing countries by 2020. This Working Paper delves into the history and challenges of international climate finance. We emphasize the complexities tied to diverse definitions and...

Die diesjährigen Zwischenverhandlungen der Klimarahmenkonvention der Vereinten Nationen (UNFCCC) in Bonn geben wenig Grund zum Optimismus. Verhärtete Fronten vor allem zwischen einigen großen Schwellenländern und den Industriestaaten präg­ten das Treffen. Un­einig­keit darüber, wie die...

Nach dem Abschluss des Fit for 55-Pakets wird die Klimapolitik der Europäischen Union (EU) in ihre nächste Phase eintreten. Eine der wichtigsten Entscheidungen wird sein, das übergreifende Emissionsreduktionsziel für 2040 festzulegen, das den Ausgangspunkt für die nächste Runde der...

Climate experts are apprehensive about the approaching Presidency of the United Arab Emirates at this year's Conference of the Parties (COP) to the UN Framework Convention on Climate Change (UNFCCC). So far, the oil producer has not set a shining example with its climate protection efforts; and...

Entrenched positions, particularly between industrialised countries and some major emerging economies, dominated negotiations at June’s UN Climate Change Conference in Bonn. Disagreements over the interpretation of “common but differentiated responsibilities” and the principle of equity...

Following the conclusion of the 'Fit for 55' package, European Union (EU) climate policy will enter its next phase. One of the most important decisions will be how to set the economy-wide emissions reduction target for 2040, which will form the starting point for the next round of revisions of...

We study the influence of industrial lobbying on national climate policies and the formation of an international environmental agreement if the coalition countries use border carbon adjustments to protect domestic producers. We find that lobbies in the outsider countries favor carbon taxes,...