Policy Mix for Emissions Reduction and Renewables Development

Concerns about global warming and climate change have led countries in the world to adopt various policy schemes for reducing national carbon footprint. As the source of two-thirds of global GHG emissions, the energy sector (including energy production and use) has been at the core of efforts. Governments at different levels apply a mix of policies to reduce GHG emissions from the power industry and significantly expand the use of carbon-free renewable sources. Born out of comprehensive considerations between social, political, legal, and administrative factors, the mechanism for each scheme varies and usually has a different approach or target group. In this write-up, we will briefly review several effective schemes adopted by world governments and see how those policy instruments differ from each other.

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