Which climate policies reduce emissions effectively?

Embargoed until: Publicly released: 2024-08-23 08:49

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Researchers studied about 1500 climate policies from 41 countries, finding the 63 most effective ones to reduce greenhouse gas emissions. The top contenders differed by country and sector, and combinations of policies worked best. For example, in countries with developed economies such as New Zealand, the best solo policy type for reducing transport emissions was pricing, but it was more effective to combine subsidies with pricing. For the electricity sector, regulation worked to an extent as a solo policy but policy mixes involving pricing were more successful. However, the study authors say that even if all countries in their study could replicate past success through effective policy, several times more effort would be needed to 'close the emissions gap' by 2030.