Fiscal Instruments in INDCs: How countries are looking to fiscal policies to support INDC implementation
Countries are increasingly turning to the use of fiscal instruments to support low-carbon development and efforts to reduce emissions.
Countries are increasingly turning to the use of fiscal instruments to support low-carbon development and efforts to reduce emissions.
This is evidenced in the proliferation of the references to these instruments within the Intended Nationally Determined Contributions (INDCs) that were submitted and examined in advance of COP 21.
With that in mind, IISD and GIZ (on behalf of the German Ministry for Economic Cooperation and Development) have undertaken a rapid review of INDCs to highlight countries that have identified these tools as part of their INDCs, catalogue the different tools countries referenced, detect the frequency of their use and identify trends for how countries are planning to use fiscal instruments to support the implementation of INDCs.
Based on the analysis, this review provides several recommendations, in order to highlight resources that support the implementation of fiscal instruments countries have committed to in their INDCs. For countries that have not yet indicated that fiscal reforms will be part of their INDC implementation, but may have an interest in exploring this area, this rapid review can serve as a starting point by indicating how other countries are approaching this issue and offering insight into ways that fiscal policy can support INDC implementation while opening fiscal space for countries.
You might also be interested in
Rethinking Investment Treaties
The reports maps out how the treaty system can be redesigned from the bottom up to accelerate—rather than obstruct—genuine sustainable development and international cooperation.
Transitioning Away From Oil and Gas
At COP 28, 198 governments agreed to transition away from fossil fuels. What are the next steps for a global phase-out of oil and gas production?
Canada's greenhouse gas emissions climbed in 2022, after pandemic slowdown
Canada's greenhouse gas emissions rose in 2022, as the economy rebounded from the pandemic slowdown, according to new figures released by the federal government. The new National Inventory Report data shows emissions reached 708 megatonnes in that year, compared with 698 megatonnes in 2021. But Environment Minister Steven Guilbeault said the 2022 numbers are a sign his government's climate policies are working, with emissions totals the lowest in 25 years aside from the pandemic years.
Greenhouse-gas emissions falling, but oil-sands emissions continue to climb, federal report says
Federal climate policies have begun to make a dent in overall greenhouse-gas emissions, but oil-sands emissions continue to climb, raising questions about how the country can meet its overall targets as producers ramp up production to feed the Trans Mountain expansion system.