In: Economics
Evaluate the range of policies that might be used to address climate change. Which policies would be most effective and why?
Climate change is already being observed through melting glaciers, rising temperatures, increasing storm intensity, shifting rain patterns, and rising sea levels. It will lead to adverse impacts on human health, natural ecosystems, and the economy. Numerous policy instruments can help put a price on GHG emissions: the removal of environmentally harmful subsidies, carbon or energy taxes, and tradable permit schemes. The range of policies that might be used to address climate change is as follows:
--International climate negotiations: The global efforts that work toward reducing emissions worldwide will be critical in reducing climate change
--The Clean Power Plan: The power plants are often allowed to dump unlimited amounts of carbon pollution into the atmosphere. There are no regulations imposed on the limit of their emissions of carbon dioxide, the primary driver of global warming. If new rules or standards, that will decrease carbon emissions from power plants it will be an effective plan
--Building support for national climate policies: The policies must be built on finding bipartisan solutions that decreases heat-trapping emissions. Information instruments (e.g. eco-labelling of energy appliances) and R&D programmes, regulations (e.g. building codes and regulations), both can complement market-based approaches. These can be beneficial to overcome few of the market and information failures that decreases the development and diffusion of climate-friendly technologies. Positive incentives and policy options are required to reduce emissions from deforestation, and to enhance the uptake of CO2 by forests
--A national blueprint for a clean energy economy: The taxation or emission trading or will be important to effectively put a price on GHG emissions. The policies to accelerate the up-take of existing “green” technologies and practices can be helpful to encourage greater energy efficiency.
In my opinion if every nation builds a national climate policy, it will turn out to be a climate game changer. Mainstreaming climate change adaptation in every nation on awareness-raising, integration into sectoral planning and implementation of specific adaptation options of climate change will bring a drastic climate change.