Fiscal Tools for Subnational Ecosystem and Climate Action

Serdar Yilmaz and Farah Zahir
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Serdar Yilmaz: World Bank
Farah Zahir: World Bank

International Center for Public Policy Working Paper Series, at AYSPS, GSU from International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University

Abstract: The benefits of climate change action at all levels of government accrue to the overall population nationally as well as globally. Therefore, there is a role for all kinds of governmental institutionsÑlocal, regional, national and internationalÑin 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 intergovernmental fiscal toolbox. The focus is whether payment 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.

Pages: 35 pages
Date: 2022-12
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Persistent link: https://EconPapers.repec.org/RePEc:ays:ispwps:paper2208

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