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  A net-zero target compels a backward induction approach to climate policy

Dolphin, G., Pahle, M., Burtraw, D., Kosch, M. (2023): A net-zero target compels a backward induction approach to climate policy. - Nature Climate Change, 13, 1033-1041.
https://doi.org/10.1038/s41558-023-01798-y

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 Creators:
Dolphin, Geoffroy1, Author
Pahle, Michael2, Author              
Burtraw, Dallas1, Author
Kosch, Mirjam2, Author              
Affiliations:
1External Organizations, ou_persistent22              
2Potsdam Institute for Climate Impact Research, ou_persistent13              

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 Abstract: Jurisdictions worldwide increasingly affirm their contributions to the Paris Agreement by pledging net-zero targets. We argue that delivering on net-zero targets compels a backward induction approach to climate policy, which stipulates that maximizing credibility should be the objective of policy pathways design. This implies choosing policies that strike a suitable balance between building commitment and attaining cost efficiency. Our argument rests on the premise that private investments play a key role for net zero, and that getting expectations right—through credible commitment to a policy pathway—is more relevant than getting the prices right to align the investments with net zero. We sketch the main elements for a regulatory strategy to put this approach into action.

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Language(s): eng - English
 Dates: 2022-11-012023-08-072023-09-182023-10
 Publication Status: Finally published
 Pages: 9
 Publishing info: -
 Table of Contents: -
 Rev. Type: Peer
 Identifiers: DOI: 10.1038/s41558-023-01798-y
Organisational keyword: RD3 - Transformation Pathways
PIKDOMAIN: RD3 - Transformation Pathways
Working Group: Climate & Energy Policy
MDB-ID: No data to archive
Research topic keyword: Climate Policy
Research topic keyword: Mitigation
Research topic keyword: Economics
Research topic keyword: Energy
Regional keyword: Global
 Degree: -

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Project name : ARIADNE
Grant ID : 03SFK5S0
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Title: Nature Climate Change
Source Genre: Journal, SCI, Scopus, p3
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Pages: - Volume / Issue: 13 Sequence Number: - Start / End Page: 1033 - 1041 Identifier: CoNE: https://publications.pik-potsdam.de/cone/journals/resource/140414
Publisher: Nature