TY - BOOK ID - 134105828 TI - Proposal for an International Carbon Price Floor Among Large Emitters AU - Parry, Ian. AU - Black, Simon. AU - Roaf, James. PY - 2021 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Environmental Conservation and Protection KW - Environmental Economics KW - Taxation KW - Energy: Government Policy KW - Climate KW - Natural Disasters and Their Management KW - Global Warming KW - Environmental Economics: Government Policy KW - Taxation and Subsidies: Externalities KW - Redistributive Effects KW - Environmental Taxes and Subsidies KW - Climate change KW - Public finance & taxation KW - Greenhouse gas emissions KW - Environment KW - Carbon tax KW - Taxes KW - Greenhouse gases KW - Climatic changes KW - Environmental impact charges KW - China, People's Republic of UR - https://www.unicat.be/uniCat?func=search&query=sysid:134105828 AB - Countries are increasingly committing to midcentury ‘net-zero’ emissions targets under the Paris Agreement, but limiting global warming to 1.5 to 2°C requires cutting emissions by a quarter to a half in this decade. Making sufficient progress to stabilizing the climate therefore requires ratcheting up near-term mitigation action but doing so among 195 parties simultaneously is proving challenging. Reinforcing the Paris Agreement with an international carbon price floor (ICPF) could jump-start emissions reductions through substantive policy action, while circumventing emerging pressure for border carbon adjustments. The ICPF has two elements: (1) a small number of key large-emitting countries, and (2) the minimum carbon price each commits to implement. The arrangement can be pragmatically designed to accommodate equity considerations and emissions-equivalent alternatives to carbon pricing. The paper discusses the rationale for an ICPF, considers design issues, compares it with alternative global regimes, and quantifies its impacts. ER -