Fiscal tools for subnational ecosystem and climate action

Serdar Yilmaz and Farah Zahir

Chapter 16 in Decentralized Governance and Climate Change, 2025, pp 312-336 from Edward Elgar Publishing

Abstract: The benefits of climate change action at all levels of government accrue to the overall population nationally as well as globally. Therefore, all kinds of governmental institutions—local, regional, national, and international—have a role in climate action. The challenge is to identify effective public policy tools and fiscal instruments that reconcile local costs and global benefits. In this paper, we analyze the potential of including three recent payment schemes pioneered for compensating costs incurred for climate action into the intergovernmental fiscal toolbox. The focus is on whether payments for ecosystem services (PES), reducing emissions from deforestation and forest degradation plus conservation, sustainable management of forests, and enhancing forest carbon stocks (REDD+), and ecological fiscal transfers (EFT) provide sufficient incentives to subnational governments to take on climate action.

Keywords: Fiscal tools; Ecosystem services; PES; Reducing emissions from deforestation and forest degradation plus conservation; Sustainable management of forests; Enhancing forest carbon stocks; REDD; Ecological fiscal transfers; EFT (search for similar items in EconPapers)
Date: 2025
ISBN: 9781035356379
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