So appreciate Daniel Street's post highlighting "the most successful policy interventions have been in the building sector, followed by transport, industry, and electricity." We concur. 💡 In this consutlation on ERP2, Government has commented that they're open to working with our sector to explore opportunities. 🛠 Add your voice. If you need food for thought, take a look at our response on our website or get in touch. 📞
Which government policies actually have the greatest impact on reducing emissions? A long-read for your ERP2 consultation deadline Sunday 💡📗🔽 Science magazine published a paper on Friday from Stechemesser et al called "𝐶𝑙𝑖𝑚𝑎𝑡𝑒 𝑝𝑜𝑙𝑖𝑐𝑖𝑒𝑠 𝑡ℎ𝑎𝑡 𝑎𝑐ℎ𝑖𝑒𝑣𝑒𝑑 𝑚𝑎𝑗𝑜𝑟 𝑒𝑚𝑖𝑠𝑠𝑖𝑜𝑛 𝑟𝑒𝑑𝑢𝑐𝑡𝑖𝑜𝑛𝑠: 𝐺𝑙𝑜𝑏𝑎𝑙 𝑒𝑣𝑖𝑑𝑒𝑛𝑐𝑒 𝑓𝑟𝑜𝑚 𝑡𝑤𝑜 𝑑𝑒𝑐𝑎𝑑𝑒𝑠". The authors reviewed 1500 climate policies implemented between 1998 and 2022 across 41 countries. 63 policy interventions were considered successful at reducing emissions (based on a two-year window either side of the intervention). The key takeaways were: ▶ the policy mix of markets and regulations is important, but no mix will work across all sectors; ▶ policies often fail because they are too specifically targeted; ▶ while subsidies and regulations are the most frequently used policy tools, they are only really effective when combined with price-based tools such as carbon prices and energy taxes in developed economies; ▶ while price-based tools are effective, they work better when combined with other policies (i.e. its not just market pricing that drives the best change); ▶ the policy mix needs to be aligned (for instance banning new fossil fuel cars, increasing the price of fuel, and subsidising public transport and EVs) to be successful; and ▶ the most successful policy interventions have been in the building sector, followed by transport, industry, and electricity. 📝 https://lnkd.in/g5epKA4V Returning the favour of your recent suggested reading Alec Tang, Gerri Ward, Mike Burrell. Also likely to interest Sustainable Business Council NZ | Sustainable Business Network | Climate Leaders Coalition. #esg #climatechange #climateaction #sustainability #DLAPiperNZ 📸 Patrick / Unsplash