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Climate policy portfolios that accelerate emission reductions

Author

Listed:
  • Arvanitopoulos, Theodoros
  • Bulian, Simon
  • Wilson, Charlie
  • Jordan, Andrew J
  • Tosun, Jale
  • Vasilakos, Nicholas

Abstract

The corpus of national climate policies continues to grow - but to what effect? Using data on 3,917 policy instruments across 43 OECD countries and major emerging economies from 2000-2022, we show that national climate policy portfolios specializing in instrument types and sectors are associated with faster reductions in fossil CO2 emission intensity. Supported by exemplar country case studies, we also provide quantitative evidence that the effectiveness of climate policy is amplified by long-term emission reduction targets and the presence of dedicated governmental bodies including ministries and intergovernmental organisations. The cumulative effect of all climate policy portfolios over our study period amounts to 3.1 GtCO2 fewer emissions in 2022 relative to a no-policy counterfactual - substantially less than what's needed to stay on track for the Paris Agreement goals.

Suggested Citation

  • Arvanitopoulos, Theodoros & Bulian, Simon & Wilson, Charlie & Jordan, Andrew J & Tosun, Jale & Vasilakos, Nicholas, 2026. "Climate policy portfolios that accelerate emission reductions," LSE Research Online Documents on Economics 137198, London School of Economics and Political Science, LSE Library.
    • Handle: RePEc:ehl:lserod:137198
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    File URL: https://researchonline.lse.ac.uk/id/eprint/137198/
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    More about this item

    JEL classification:

    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
    • H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
    • H50 - Public Economics - - National Government Expenditures and Related Policies - - - General

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