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Political Science > Environmental Policy

You are looking at 1 - 10 of 10 items for :

  • Type: Journal Issue x
  • National Government Expenditures and Related Policies: Infrastructures; Other Public Investment and Capital Stock x
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Cover Technical Assistance Reports
Arab Republic of Egypt: Technical Assistance Report-Climate Public Investment Management Assessment
International Monetary Fund. Fiscal Affairs Dept.
This report finds that Egypt has implemented important improvements in climate-aware planning and coordination across the public sector, and some initial steps to reflect climate change issues in appraisal and selection of investment projects, but that significant work remains. So far there has been limited progress in ensuring that budgeting, portfolio management and fiscal risk management is climate sensitive. In addition, many of the weaknesses in the overall framework for public investment described in a separate report, also undermine the capacities for climate-sensitive public investment management. The mission makes three main recommendations to address current weaknesses and further improve the climate change awareness of public investment management: 1) Integrate national climate strategies and objectives for both climate change adaptation and mitigation in national, sectoral, construction and spatial planning processes; 2) Reflect climate change considerations in project selection, budgeting, and portfolio management decisions; 3) Strengthen management of climate-related fiscal risks.
Keywords:
Arab Republic of Egypt; CPIMA; Investment; Infrastructure; Efficiency; Climate.; IMF's Fiscal Affairs Department; Ministry of petroleum; climate PIMA; Ministry of housing; FAD expert; Climate change; Public investment spending; Climate finance; Global
Cover IMF Staff Country Reports
Pakistan: Technical Assistance Report–Public Investment Management Assessment–PIMA and Climate PIMA
International Monetary Fund. Fiscal Affairs Dept.
This Technical Assistance report on Pakistan presents public investment management assessment (PIMA) and Climate PIMA. This report finds that while Pakistan scores slightly above average compared to the emerging market economies that have undertaken the PIMA to date there are still significant gaps in key areas the impede the delivery of critical infrastructure services in Pakistan. Pakistan has taken some important steps to improve public investment management, including through reforms incorporated in the Public Financial Management Act 2019 and the 2021 Manual for Development Projects. With Pakistan’s highly constrained budgetary resources, selecting the right projects for funding becomes even more critical. Government has some skilled staff that can move reforms to address these challenges forward, though it will be difficult. While some staff have a good understanding of strong practices, achieving implementation through changed approaches and culture across the public sector requires focused and sustained effort. Building knowledge of climate change aspects at all stages of the project cycle is also a priority.
Keywords:
Public Investment Management; Climate Change; Public financial management; Infrastructure Governance; climate PIMA; management ASSESSEMENT-PIMA; IMF's Fiscal Affairs Department; management institution; D. investment allocation; auditor general; Public investment spending; Budget planning and preparation; Climate policy; Infrastructure; Global
Cover IMF Staff Country Reports
Jamaica: Technical Assistance Report-Climate Public Investment Management Assessment (C-PIMA)
International Monetary Fund. Fiscal Affairs Dept.
This paper presents Jamaica’s Technical Assistance report on climate public investment management assessment (C-PIMA). Jamaica’s dependence on fossil fuels imports for energy generation calls for a transition to renewables even though Jamaica’s contribution to the worldwide greenhouse gases emissions is insignificant. Climate risks and natural disasters pose major threats to Jamaica’s public infrastructure and there is considerable scope to strengthen climate-responsive public investment. The C-PIMA assessment makes eight high-priority recommendations, which could improve climate-related public investment management processes in Jamaica and support green and sustainable economic growth. Progress has been made in the development of a comprehensive climate change policy framework and in planning for disaster risk financing. However, coordination across the central government and with municipal corporations is weak with no institution positioned strategically to lead either adaptation or mitigation related investments. The paper provides an action plan for the implementation of these recommendations over the short and medium term, identifies responsible agencies and areas where additional technical assistance could be useful.
Keywords:
country GHG emission; C-PIMA questionnaire; C-PIMA institution; risk assessment tool; authorities of Jamaica; Jamaica bauxite Institute; green Climate fund; staff team of the International Monetary Fund; climate change Policy framework; Climate change; Natural disasters; Climate policy; Public investment spending; Caribbean
Cover IMF Staff Country Reports
Benin: Second Review under the Extended Fund Facility and the Extended Credit Facility Arrangements-Press Release; Staff Report; Debt Sustainability Analysis and Statement by the Executive Director for Benin
International Monetary Fund. African Dept.
This paper presents Benin’s Second Review under the Extended Fund Facility and the Extended Credit Facility Arrangements. Program performance has been robust, with all end-September and end-December 2022 performance criteria, indicative targets met, and all structural benchmarks implemented. Revenue-based fiscal consolidation is underway, after three years of warranted policy accommodation amidst repeated and severe exogenous shocks. After three years of warranted policy accommodation, fiscal consolidation is underway, underpinned by robust tax collection and spending reprioritization to shield social programs and help meet Benin’s large development and security-related needs. The recently established social registry is much needed to channel timely support to vulnerable households in a world more prone to shocks. Its swift full operationalization is critical to improve the targeting and efficiency of social programs as their coverage expands. The structural reform agenda is advancing, including with the completion and publication of the IMF governance diagnostic, the adoption of a financial inclusion strategy, the digitalization of land title requests, and the submission to Parliament of a draft law to ensure the sustainability of the authorities’ flagship school feeding program.
Keywords:
IMF governance diagnostic; ECF review; action program II; Policy discussion; IMF diagnostic; IMF's transparency policy; warranted policy accommodation; IMF C-PIMA assessment; government entity; Capital spending; West Africa; Global; Sub-Saharan Africa
Cover Selected Issues Papers
Labor Market Implications for Green Investments and Carbon Pricing in Spain: Spain
Ana Lariau and Ms. Yu Shi
Labor Market Implications for Green Investments and Carbon Pricing in Spain green policies; input-output matrix; employment; occupations; skills ABSTRACT: We provide a tractable framework for assessing the labor market impact of policies that support the green transition of the Spanish economy, taking into account input-output linkages. We present illustrative examples that quantify changes in sectoral employment, occupations and skills stemming from two different green policies: (i) the announced green investments in the recovery plan; and (ii) an increase in carbon pricing and an expansion of the EU Emission Trading System (ETS). Our analysis shows that the labor market impact of these two policies is net positive, although the results depend on the design of the green policies, particularly on the use of the proceeds from the increase in carbon pricing. Strengthening active labor market policies, with a focus on training, and complementing them with education policies such as the expansion of vocational training, would facilitate the transition of workers from shrinking to expanding sectors.
Keywords:
green policies; input-output matrix; employment; occupations; skills; labor market impact; input-output linkage; labor market implication; carbon pricing; impact of policy; IMF staff calculation; Climate finance; Sustainable growth; Climate policy
Cover Selected Issues Papers
Labor Market Implications for Green Investments and Carbon Pricing in Spain: Spain
Ana Lariau and Ms. Yu Shi
We provide a tractable framework for assessing the labor market impact of policies that support the green transition of the Spanish economy, taking into account input-output linkages. We present illustrative examples that quantify changes in sectoral employment, occupations and skills stemming from two different green policies: (i) the announced green investments in the recovery plan; and (ii) an increase in carbon pricing and an expansion of the EU Emission Trading System (ETS). Our analysis shows that the labor market impact of these two policies is net positive, although the results depend on the design of the green policies, particularly on the use of the proceeds from the increase in carbon pricing. Strengthening active labor market policies, with a focus on training, and complementing them with education policies such as the expansion of vocational training, would facilitate the transition of workers from shrinking to expanding sectors.
Keywords:
green policies input-output matrix employment occupations skills; labor market impact; labor market implication; carbon pricing; impact of policy; implications of green investment; Climate finance; Sustainable growth; Climate policy; Employment
Cover IMF Staff Country Reports
Republic of Madagascar: Technical Assistance Report-Climate Macroeconomic Assessment Program
International Monetary Fund. Fiscal Affairs Dept.
Madagascar is exposed to a multitude of climate hazards such as tropical cyclones, droughts, and floods, which cause significant damage to key sectors, thereby undermining development efforts. Madagascar continues to develop strategies and policies for addressing climate change, including commitments under the Nationally Determined Contribution, natural disaster risk management, adaptation measures, and ongoing public financial management and public investment management reforms. Resilience to climate shocks and natural disasters can only be achieved through a combination of climate measures, public investment efficiency measures and public investments in both human capital and resilient infrastructure.
Keywords:
risk assessment; mitigation goal; climate change Baseline; climate change concern; mainstream climate change; Climate change; Natural disasters; Infrastructure; Public investment spending; Sub-Saharan Africa; Global; Africa
Cover IMF Staff Country Reports
United Kingdom: Technical Assistance Report-Public Investment Management Assessment: Climate Change Module
International Monetary Fund. Fiscal Affairs Dept.
The UK has one of the most ambitious climate mitigation targets in the world, achieving net-zero emissions by 2050. Long-term emissions reduction targets are legally-binding, there is a well-developed climate change framework including governance frameworks for mitigation and adaptation. Interim national targets or “five-year carbon budgets” are submitted to parliament for approval and there are National Adaptation Programs. The UK has reduced its greenhouse gas (GHG) emissions by 44 percent between 1990 and 2019, but it will likely be exposed to severe climate change risks such as increased flooding.
Keywords:
A. climate change framework; B. climate change objective; climate change governance framework; I. climate change; climate change risk priority area; Climate change; Public investment spending; Global
Cover Policy Papers
Strengthening Infrastructure Governance for Climate-Responsive Public Investment
International Monetary Fund. Fiscal Affairs Dept.
Countries have committed, through the Paris Agreement and the Sustainable Development Goals (SDGs), to pursue climate targets and policies that would limit global temperature rise to well below 2 degrees Celsius, compared to pre-industrial levels. A shift toward green public investment will help to mitigate greenhouse gas (GHG) emissions. In addition, substantial public investment will be necessary to build public infrastructure that makes economies more resilient to climate change and related natural disasters. Climate change mitigation and adaptation challenges thus compound preexisting needs for public investment to foster the economic recovery from the pandemic and to meet the SDGs in a broader range of areas, often in a context of limited fiscal space. Against this backdrop, a priority for all countries is to manage their public investment efficiently and effectively. To help countries improve the institutions and processes for infrastructure governance (the planning, allocation, and implementation of public investment), the IMF developed in 2015 the Public Investment Management Assessment (PIMA), which has already been applied in over 70 countries. However, the current PIMA does not provide a sufficiently tailored assessment of how public investment management can support climate change mitigation and adaptation. To fill this gap, this paper introduces a new module to the to the current Public Investment Management Assessment (PIMA) framework, the “Climate-PIMA” (C-PIMA), whose goal is to help governments identify potential improvements in public investment institutions and processes to build low-carbon and climate-resilient infrastructure.
Keywords:
fiscal policy; climate change; infrastructure governance; public investment management; C-PIMA framework; transparency policy; climate PIMA; climate change mitigation; State asset insurance policy; Climate change; Public investment spending; Infrastructure; Natural disasters; Global; Climate finance
Cover IMF Working Papers
Macroeconomic and Financial Policies for Climate Change Mitigation: A Review of the Literature
Signe Krogstrup and William Oman
Climate change is one of the greatest challenges of this century. Mitigation requires a large-scale transition to a low-carbon economy. This paper provides an overview of the rapidly growing literature on the role of macroeconomic and financial policy tools in enabling this transition. The literature provides a menu of policy tools for mitigation. A key conclusion is that fiscal tools are first in line and central, but can and may need to be complemented by financial and monetary policy instruments. Some tools and policies raise unanswered questions about policy tool assignment and mandates, which we describe. The literature is scarce, however, on the most effective policy mix and the role of mitigation tools and goals in the overall policy framework.
Keywords:
WP; government failure; policy authorities; Policy tool; mitigation policy; monetary policy tool; Policy instrument; Keywords: climate change; fiscal policy; monetary policy; financial policy; policy framework; policy coordination; Policy mix; policy risk; climate policy gain; distributive policy risk; technology policy; adaptation policy; Climate change; Carbon tax; Climate policy; Greenhouse gas emissions; Public investment and public-private partnerships (PPP); Global