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Political Science > Environmental Policy

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Cover IMF Working Papers
Willingness to Pay for Clean Air: Evidence from the UK
Giorgio Maarraoui, Walid Marrouch, Faten Saliba, and Ada Wossink
This paper uses life satisfaction data to help the design of climate mitigation policies in the United Kingdom. We assess the effects of the exposure to ambient pollutants on long-term life satisfaction and short-term mental health in the UK. We estimate augmented Cobb-Douglas utility functions using pooled and random effects ordinal logit models. Results show that increases in NO2, PM10 and PM2.5 significantly decrease the odds of longterm happiness and short-term mental health in the UK. The willingness to pay for clean air is also significant and increases with level of education. These measurements derived can be used as benchmarks for pollution abatement subsidies or pollution taxes and can help in projecting a more comprehensive assessment of costs and benefits.
Keywords:
Air Pollution; Happiness; Policy Valuation; Climate Change; Environmental Policies; Pollution Taxes; Pollution Abatement Subsidies; life satisfaction data; dataset description; air pollutant; pollutants' correlation; household data; ordinal Logit; Income; Europe; Global
Cover IMF How To Notes
How to Make the Management of Public Finances Climate-Sensitive—“Green PFM”
Ozlem Aydin Sakrak, Bryn Battersby, Mr. Fabien Gonguet, Mr. Claude P Wendling, Jacques Charaoui, Murray Petrie, and Suphachol Suphachalasai
This How to Note develops the “green public financial management (PFM)” framework briefly outlined in an earlier Staff Climate Note (2021/002, published in August 2021). It illustrates, how climate change and environmental concerns can be mainstreamed into government’s institutional arrangements in place to facilitate the implementation of fiscal policies. It provides numerous country examples covering possible entry points for green PFM – phases in the budget cycle (strategic planning and fiscal framework, budget preparation, budget execution and accounting, control, and audit), legal framework or issues that cut across the budget cycle, such as fiscal transparency or coordination with State Owned Enterprises or with subnational governments. This How to Note also summarizes practical guidance for implementation of a green PFM strategy, underscoring the need for a tailored approach adapted to country specificities and for a strong stewardship role of the Ministry of Finance.
Keywords:
Public financial management; green budgeting; green public financial management; mainstreaming; climate change adaptation; climate change mitigation; public finances; PFM function; view of Green PFM; PFM practice; PFM reform; Climate change; Budget planning and preparation; Climate policy; Global
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 Staff Climate Notes
Climate-Sensitive Management of Public Finances—"Green PFM”
Mr. Fabien Gonguet, Mr. Claude P Wendling, Ozlem Aydin Sakrak, and Bryn Battersby
Public financial management (PFM) consists of all the government’s institutional arrangements in place to facilitate the implementation of fiscal policies. In response to the growing urgency to fight climate change, “green PFM” aims at adapting existing PFM practices to support climate-sensitive policies. With the cross-cutting nature of climate change and wider environmental concerns, green PFM can be a key enabler of an integrated government strategy to combat climate change. This note outlines a framework for green PFM, emphasizing the need for an approach combining various entry points within, across, and beyond the budget cycle. This includes components such as fiscal transparency and external oversight, and coordination with state-owned enterprises and subnational governments. The note also identifies principles for effective implementation of a green PFM strategy, among which the need for a strong stewardship located within the ministry of finance is paramount.
Keywords:
public financial management, green budgeting, green public financial management, mainstreaming, climate change adaptation, climate change mitigation; IMF staff Climate note; IMF staff Climate Note 2021/002; climate change mitigation; management of public finances; climate change adaptation; Budget planning and preparation; Climate change; Climate policy; Global
Cover IMF Staff Country Reports
Ireland: Selected Issues
International Monetary Fund. European Dept.
Selected Issues
Keywords:
climate change mitigation; copyright page; EU emission reduction target; Climate action agenda; high share; recovery package; Greenhouse gas emissions; Climate policy; Climate change; Energy conservation; Global; Europe
Cover IMF Working Papers
Are Climate Change Policies Politically Costly?
Davide Furceri, Michael Ganslmeier, and Mr. Jonathan David Ostry
Are policies designed to avert climate change (Climate Change Policies, or CCPs) politically costly? Using data on governmental popular support and the OECD’s Environmental Stringency Index, we find that CCPs are not necessarily politically costly: policy design matters. First, only market-based CCPs (such as emission taxes) generate negative effects on popular support. Second, the effects are muted in countries where non-green (dirty) energy is a relatively small input into production. Third, political costs are not significant when CCPs are implemented during periods of low oil prices, generous social insurance and low inequality.
Keywords:
EPS change; policy design; Policy implication; popular support; baseline model; Climate change; Climate policy; Fuel prices; Environmental policy; Natural disasters; Global