Linking Heterogeneous Climate Policies (Consistent with the Paris Agreement)

Michael A. Mehling, Gilbert E. Metcalf and Robert N. Stavins

Chapter 24 in Economics of Environment, Climate Change, and Wine:Selected Papers of Robert N Stavins, Volume 3 (2011–2023), 2025, pp 613-676 from World Scientific Publishing Co. Pte. Ltd.

Abstract: The Paris Agreement to the United Nations Framework Convention on Climate Change has achieved one of two key necessary conditions for ultimate success — a broad base of participation among the countries of the world. But another key necessary condition has yet to be achieved — adequate collective ambition of the individual nationally determined contributions. How can the climate negotiators provide a structure that will include incentives to increase ambition over time? An important part of the answer can be international linkage of regional, national, and subnational policies, that is, formal recognition of emission reductions undertaken in another jurisdiction for the purpose of meeting a Party’s own mitigation objectives. A central challenge is how to facilitate such linkage in the context of the very great heterogeneity that characterizes climate policies along five dimensions: type of policy instrument, level of government jurisdiction, status of that jurisdiction under the Paris Agreement, nature of the policy instrument’s target, and the nature along several dimensions of each Party’s Nationally Determined Contribution. We consider such heterogeneity among policies, and identify which linkages of various combinations of characteristics are feasible; of these, which are most promising; and what accounting mechanisms would make the operation of respective linkages consistent with the Paris Agreement.

Keywords: Climate Change Economics; Climate Change Policy; Wine Economics; Environmental Economics; Energy Economics; Natural Resource Economics; Energy-Efficiency Gap; Climate Negotiators; Carbon Pricing; Carbon Pricing Policy; Greenhouse; SO2 Allowance Trading System; Clean Air Act; Intergovernmental Panel on Climate Change; Durban Climate Talks; The Paris Agreement; Terroir (search for similar items in EconPapers)
JEL-codes: Q5 Q54 Q56 Q58 (search for similar items in EconPapers)
Date: 2025
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