A new study published in the journal Science analyzed 1,500 different climate policies implemented by 41 countries between 1998 and 2022 to determine which ones have been successful in reducing carbon emissions. The researchers found that only 63 policies resulted in significant cuts in pollution, with pricing instruments, such as carbon taxes, playing a crucial role.
The study also highlighted that what works in wealthier nations may not be as effective in developing countries. For example, the UK’s electricity sector saw a substantial reduction in emissions due to a combination of policies, including a phaseout of coal and emission trading schemes. In contrast, South Africa’s building sector achieved a nearly 54% decrease in emissions through regulations, subsidies, and appliance labeling.
While some policies have been successful, they have not made a significant impact on overall carbon emissions. The study estimated that the successful policies only reduced emissions by 600 million to 1.8 billion metric tonnes, a fraction of the 36.8 billion metric tonnes of carbon dioxide emitted globally in 2021.
The researchers emphasized the need for more effective climate policies to close the emissions gap and meet international targets. They called for a shift to emergency mode to accelerate climate action and make a significant impact on reducing emissions. The study’s methodology, focusing on pricing, regulations, subsidies, and information, provides a transparent framework that can be used to evaluate future climate policies.
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