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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