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1.
The European Emissions Trading System (EU ETS) is the central pillar of the EU response against climate change. This trading mechanism is considered, from the theoretical point of view, as the most cost-effective method to reduce GHG. However, previous studies show that the agents who participate in these markets may behave in a way that may lead to inefficient CO 2 prices, creating doubts about the static and dynamic efficiency of the system. This article analyses these possible anomalies by first trying to model the ETS in a more realistic way, addressing some of the limitations of previous models, and second, by comparing the results with real market transactions. For this, a bottom-up, multi-sector model has been built, which represents the EU ETS in an integrated, cross-sectoral way, paying particular attention to the interactions among the most emissions intensive industries. The results show the benefits of this modelling approach and how it better reflects real market conditions. Some preliminary conclusions regarding the behaviour of the agents in the ETS market are also presented. POLICY RELEVANCE Low allowance prices in the EU ETS have put into question the dynamic efficiency of the EU ETS system, prompting various ideas for structural reform. However, determining the right reform also requires estimating correctly how agents will respond to it. This article proposes a tool to realistically simulate the EU ETS under the assumption of rational agents, and compare it to real market outcomes, in order to understand better the behaviour of agents in this carbon market, and therefore how to design better policies. 相似文献
3.
Korea’s domestic emissions trading scheme commenced in January 2015. It targeted mainly industrial and power sectors, and compelled companies to transform how they manage energy efficiency and mitigate GHGs. This study sets out to explore how Korean companies evaluated their allocation position and engaged in emissions trading in the first compliance period, and to identify their views on trading barriers and policy expectations at the start of emissions trading. Questionnaire surveys and on-site interviews targeting Korean companies under the Korean emissions trading scheme were conducted at the start of operations (February to March 2015) and after the first compliance year (May 2016), respectively. Actual operation results are observed and compared with the survey findings. This study extrapolates implications for policy and presents suggestions for the government and the target companies in terms of how to improve the current emissions trading scheme in order to further stimulate emissions trading. POLICY RELEVANCE This study attempts to bridge the gap between companies and government policy in operating the domestic emission trading scheme in Korea. Empirical results, based on analysis of company-level data, reveal how businesses perceive K-ETS and how this relates to the operating results, which saw only limited trading of surplus emissions taking place in the early phase. Key barriers to active trading identified in the study include supply–demand imbalance, policy uncertainty and lack of preparedness of companies over carbon pricing. These barriers could be addressed by improved transparency of allowance allocation methods, possibly restricting carry-over of surplus allowances, ending policy uncertainty and providing more information to companies that can support companies’ policy understanding of the carbon pricing based on the market mechanism. Targeted companies should proactively participate in emissions trading in the early phase, in order to learn from it and prepare for the future introduction of auctioning. 相似文献
4.
Many different approaches are needed to achieve reductions in GHG emissions from the transportation sector. Carbon emissions trading schemes (ETSs) are widely used in industry and are effective in reducing the overall social cost of emissions abatement. This article reports the development of a downstream ETS for the transportation sector and its application in Shenzhen, China. The ETS was devised as a mandatory cap-and-trade scheme and, as a first step, was applied to public transportation. An integrated cap was set on the total emissions from buses and taxis: an absolute cap for existing vehicles and a relative increment for new entrants. Allowances were allocated by grandfathering or benchmarking and a ‘reverse mechanism’ was established to encourage the transformation of urban transportation to a low-carbon system. Online fuel consumption monitoring was used to quantify the emissions from vehicles, and the operators were required to surrender enough allowances or credits to account for their verified annual emissions. The mechanisms for allowance trading and carbon offsets provided sufficient flexibility to make emissions abatement and the use of new-energy vehicles and environmentally friendly travel within Shenzhen's urban transportation system economically attractive. Policy relevance The transportation sector is becoming a major contributor to the growth in China's GHG emissions. Achieving large reductions in GHG emissions from the transportation sector is a great challenge and requires both technology and policy innovation. The tradable carbon permit is a popular concept in mitigating climate change, but the introduction of a cap-and-trade ETS into the transportation sector is a relatively innovative concept. Shenzhen has launched the first cap-and-trade ETS in a developing country and is currently exploring ways to mitigate carbon emissions by a downstream cap-and-trade ETS for the transportation sector. This article considers the main institutional arrangements and regulatory framework of Shenzhen's transportation carbon ETS. It not only refreshes the theoretical analysis and practical application of downstream cap-and-trade carbon emissions trading in urban transportation, but also provides developing countries with a cost-effective instrument to mitigate their rapid growth in traffic carbon emissions during urbanization. 相似文献
5.
There is a rich empirical literature testing whether per capita carbon dioxide emissions tend to converge over time and across countries. This article provides a meta-analysis of the results from this research, and discusses how carbon emissions convergence may be understood in, for instance, the presence of international knowledge spillovers and policy convergence. The results display evidence of either divergence or persistent gaps at the global level, but convergence of per capita carbon dioxide emissions between richer industrialized countries. However, the results appear sensitive to the choice of data sample and choice of convergence concept, e.g. stochastic convergence versus β-convergence. Moreover, peer-reviewed studies have a higher likelihood of reporting convergence in carbon dioxide emissions compared to non-refereed work. POLICY RELEVANCE The empirical basis for an egalitarian rule of equal emissions per capita in the design of global climate agreements is not solid; this supports the need to move beyond single allocation rules, and increase knowledge about the impacts of combined scenarios. However, even in the context of the 2015 Paris Agreement with its emphasis on voluntary contributions and ‘national circumstances’, different equity-based principles could serve as useful points of reference for how the remaining carbon budget should be allocated. 相似文献
6.
The voluntary carbon market allows participants to go beyond regulatory carbon offsetting. Recent developments have improved the transparency and credibility of voluntary carbon trading, and forest carbon credit transactions constitute more than half of trade volume. Its workings, however, have not been sufficiently explored in the literature. This study analyses the characteristics of forest carbon credit transactions in the voluntary carbon market using frequency analysis and logistic regression analysis. The results reveal that the co-benefits of forest carbon projects are an important factor influencing carbon credit transactions. From the higher transaction ratio of credits from CCB Standards-labelled projects and projects using co-benefit-oriented standards, it can be inferred that credits with potential for co-benefits (e.g. fostered corporate social responsibility, social cohesion of local communities and voluntary leadership, and positive environmental impacts) are preferred to those focusing exclusively on emission reduction in the voluntary carbon market. The findings of this study suggest that developing co-benefits is important for strengthening the market competitiveness of forest carbon credits in the voluntary carbon market. Additionally, unlike the compliance carbon market, in the voluntary carbon market stringent carbon standards do not always guarantee credit transaction performance. POLICY RELEVANCE After UNFCCC COP-21, the global society agreed to acknowledge various forms of international carbon crediting mechanisms, and noted the significance of greenhouse gas emissions reduction for sustainable development and environmental integrity through the Paris Agreement. Moreover, the agreement encouraged both REDD+ activities in developing countries and supports from developed countries. Additionally, co-benefits of forest carbon projects are important for credit transaction in the global voluntary carbon market. Under the new climate regime, co-benefits of forest carbon projects are expected to gain attention in the carbon market. To promote the social, economic, and environmental co-benefits of forest carbon projects, the introduction of an objective co-benefit assessment and certification system should be reviewed at the national level. 相似文献
7.
Seven emissions trading scheme (ETS) pilots have been established in China. They have introduced some unique methods to set emissions caps and allocate allowances, different from textbook models and their counterparts in the EU, California, and many other regions. This article provides a detailed introduction to the methods for cap setting and allowance allocation adopted by the pilots, and presents detailed comparisons of these methods. In terms of cap setting, the pilots adopt flexible caps that can be adjusted where necessary, which primarily depends on the outcomes of the bottom-up approach, namely aggregating the allowances allocated to participants. As for allowance allocation, the pilots not only adopt such methods as grandfathering and benchmarking, which are also widely applied in other existing schemes, but also some special methods that require ex post adjustment, such as those based on enterprises’ historical emissions intensity (including both physical quantity and added-value intensity) and current production/output. The factors influencing the design are further analysed, including the impacts of theory and experience from foreign systems, concerns about economic development, traditions regarding intensity targets and policy, constraints from data availability and preparation time, tight regulation of the electricity and heat generation sector, and concerns regarding price stability. The practice of pilots presents an improvement opportunity and a challenge for China to further balance the theoretical and practical requirements in ETS design in establishing its national system. Policy relevance China is piloting emissions trading in seven regions, as part of efforts to try to rely more on market-based instruments to achieve GHG emissions control targets. All seven pilots have been confronted with special issues in the design process when compared with existing foreign schemes. This article analyses in depth the special issues related to cap setting and allowance allocation and the approaches adopted to address these issues. Flexible cap setting through a bottom-up approach and different types of allocation methods with or without ex post adjustment are adopted in the pilots. The flexible and innovative approaches the pilots have developed could provide useful experience for designing the nationwide ETS in China and promoting emissions trading policy in other parts of the world. 相似文献
8.
Applying a resilience theory framework, land transport funding in New Zealand is used to show how benefit cost analysis can reinforce a preference for maintaining existing economic and social systems when, instead, consideration of more socially disruptive options may be required. In this context, resilience is seen as the ability to maintain transport systems rather than the ability to reduce the probability of climate change. The latter role of resilience attempts to identify thresholds and regime shifts, and so critiques decision-making processes, while the former privileges social stability, thereby reducing the range of potentially useful emission mitigation options to be considered. Policy relevance Transitioning to a lower-carbon future requires policy formulation that challenges business-as-usual assumptions. Benefit cost analysis can be applied in ways that create barriers to such transitioning. The New Zealand case study identifies the conditions under which this can be the case. That benefit cost analysis could undermine the potential of resilience theory and application to identify low-carbon emission pathways is of concern to policy makers globally. 相似文献
9.
This article addresses the question of how forestry projects, given the recently improved standards for the accounting of carbon sequestration, can benefit from existing and emerging carbon markets in the world. For a long time, forestry projects have been set up for the purpose of generating carbon credits. They were surrounded by uncertainties about the permanence of carbon sequestration in trees, potential replacement of deforestation due to projects (leakage), and how and what to measure as sequestered carbon. Through experience with Joint Implementation (JI) and Clean Development Mechanism (CDM) forestry projects, albeit limited, and with forestry projects in voluntary carbon markets, considerable improvements have been made with accounting of carbon sequestration in forests, resulting in a more solid basis for carbon credit trading. The scope of selling these credits exists both in compliance markets, although currently with strong limitations, and in voluntary markets for offsetting emissions with carbon credits. Improved carbon accounting methods for forestry investments can also enhance the scope for forestry in the Nationally Determined Contributions (NDCs) that countries must prepare under the Paris Agreement. POLICY RELEVANCE This article identifies how forestry projects can contribute to climate change mitigation. Forestry projects have addressed a number of challenges, like reforestation, afforestation on degraded lands, and long-term sustainable forest management. An interesting new option for forestry carbon projects could be the NDCs under the Paris Agreement in December 2015. Initially, under CDM and JI, the number of forestry projects was far below that for renewable energy projects. With the adoption of the Paris Agreement, both developed and developing countries have agreed on NDCs for country-specific measures on climate change mitigation, and increased the need for investing in new measures. Over the years, considerable experience has been built up with forestry projects that fix CO2 over a long-term period. Accounting rules are nowadays at a sufficient level for the large potential of forestry projects to deliver a reliable, additional contribution towards reducing or halting emissions from deforestation and forest degradation activities worldwide. 相似文献
10.
This article provides an analysis of the EU Emissions Trading Scheme (ETS) and the harmonized benchmark-based allocation procedures by comparing two energy-intensive sectors with activities in three Member States. These sectors include the cement industry (CEI) and the pulp and paper industry (PPI) in the UK, Sweden, and France. Our results show that the new procedures are better suited for the more homogeneous CEI, in which the outcome of stricter allocation of emissions allowances is consistent between Member States. For the more heterogeneous PPI – in terms of its product portfolios, technical infrastructures, and fuel mixes – the allocation procedures lead to diverse outcomes. It is the lack of product benchmark curves, and the alternative use of benchmark values that are biased towards a fossil fuel-mix and are based on specific energy use rather than emission intensity, which leads to allocations to the PPI that do not represent the average performance of the top 10% of GHG-efficient installations. Another matter is that grandfathering is still present via the historically based production volumes. How to deal with structural change and provisions regarding capacity reductions and partial cessation is an issue that is highly relevant for the PPI but less so for the CEI. Policy relevance After an unprecedented amount of consultation with industrial associations and other stakeholders, a harmonized benchmark-based allocation methodology was introduced in the third trading period of the EU ETS. Establishing a reliable and robust benchmark methodology for free allocation that shields against high direct carbon costs, is perceived as fair and politically acceptable, and still incentivizes firms to take action, is a significant challenge. This article contributes to a deeper understanding of the challenges in effectively applying harmonized rules in industrial sectors that are heterogeneous. This is essential for the debate on structural reformation of the EU ETS, and for sharing experiences with other emerging emissions trading systems in the world that also consider benchmark methodologies. 相似文献
11.
Climate engineering (CE) and carbon capture and storage are controversial options for addressing climate change. This study compares public perception in Germany of three specific measures: solar radiation management (SRM) via stratospheric sulphate injection, large-scale afforestation, and carbon capture and storage sub-seabed (CCS-S). In a survey experiment we find that afforestation is most readily accepted as a measure for addressing climate change, followed by CCS-S and lastly SRM, which is widely rejected. Providing additional information decreases acceptance for all measures, but their ranking remains unchanged. The acceptance of all three measures is especially influenced by the perceived seriousness of climate change and by trust in institutions. Also, respondents dislike the measures more if they perceive them as a way of shirking responsibility for emissions or as an unconscionable manipulation of nature. Women react more negatively to information than men, whereas the level of education or the degree of intuitive vs reflective decision making does not influence the reaction to information. POLICY RELEVANCE Current projections suggest that the use of climate engineering (CE) technologies or carbon capture and storage (CCS) is necessary if global warming is to be kept well below 2°C. Our article focuses on the perspective of the general public and thus supplements the dialogue between policymakers, interest groups, and scientists on how to address climate change. We show that in Germany public acceptance of potentially effective measures such as SRM or CCS-S is low and decreases even more when additional information is provided. This implies that lack of public acceptance may turn out to be a bottleneck for future implementation. Ongoing research and development in connection with CCS-S and SRM requires continuous communication with, and involvement of, the public in order to obtain feedback and assess the public’s reservations about the measures. The low level of acceptance also implies that emission reduction should remain a priority in climate policy. 相似文献
12.
The main purpose of this article is to evaluate the extent to which the Cohesion Policy of the EU contributes to its climate change mitigation effort. While climate change mitigation and the EU Cohesion Policy have been both thoroughly studied theoretically, the novelty of the present article lies in an analysis of their mutual relationship. Also, a unique feature of this research is an analysis of the contribution of the Cohesion Policy to climate change mitigation over a period of 20 years, including a comparison of the three last programming periods (2000–2006, 2007–2013 and 2014–2020). The results of this research suggest that, while the beginning of the new millennium saw the Cohesion Policy neglecting the issue of climate change mitigation, the current programming period (2014–2020) placed it among its key priorities. This conclusion is supported by a comprehensive set of data on five selected indicators. This article also displays the results against the perspective of the overall climate change mitigation objectives of the EU. POLICY RELEVANCE The present article shows how a policy, which used to be considered rather distant from climate change, progressively adopted climate change mitigation as one of its principal objectives. As such, it provides a practical guidance on the integration of climate change mitigation in other policy areas, which may be applied not only in a supranational organisation but also on a national, regional or local level. 相似文献
13.
The last ten years have seen the growth of linkages between many of the world's cap-and-trade systems for GHGs, both directly between systems, and indirectly via connections to credit systems such as the Clean Development Mechanism. If nations have tried to act in their own self-interest, this proliferation of linkages implies that for many nations, the expected benefits of linkage outweighed expected costs. In this article, we draw on the past decade of experience with carbon markets to examine why systems have demonstrated this revealed preference for linking. Linkage is a multi-faceted policy decision that can be used by political jurisdictions to achieve a variety of objectives, and we find qualitative evidence that many economic, political, and strategic factors – ranging from geographic proximity to integrity of emissions reductions – influence the decision to link. We also identify some potentially important effects of linkage, such as loss of control over domestic carbon policies, which do not appear to have deterred real-world decisions to link. Policy relevance These findings have implications for the future role that decentralized linkages may play in international climate policy architecture. The Kyoto Protocol has entered what is probably its final commitment period, covering only a small fraction of global GHG emissions. Under the Durban Platform for Enhanced Action, negotiators may now gravitate toward a hybrid system, combining top-down elements for establishing targets with bottom-up elements of pledge-and-review tied to national policies and actions. The incentives for linking these national policies are likely to continue to produce direct connections among regional, national, and sub-national cap-and-trade systems. The growing network of decentralized, direct linkages among these systems may turn out to be a key part of a future hybrid climate policy architecture. 相似文献
14.
Carbon markets and climate finance payments are being used to incentivize the mitigation of CO 2 arising from anthropogenic land-use change in forests, marine ecosystems, and lowland grasslands. However, no such consideration has been given to how these ‘carbon finance incentives’ might be applied to mountain grasslands and shrublands, ecosystems that contain a substantial amount of carbon. These incentives amount to more than US$350 billion per annum and could potentially support underfunded natural resource management (NRM) activities, which are urgently needed to address numerous stressors impacting these important ecosystems. In the mountain context, NRM activities could include adaptive grazing management, sustainable cropping, ecosystem preservation, ecosystem restoration, and engineered soil conservation measures. This article investigates the stressors, challenges, and priorities related to the NRM of carbon stocks in mountain grasslands and shrublands; why carbon markets and climate finance have not yet been utilized in this context; and, what is required to position mountain-based NRM activities as eligible for carbon finance incentives. Using surveys and interviews triangulated with a systematic literature review, the study found that carbon finance incentives are not well understood, both amongst mountain-focused experts and in the literature. The study also found the required technical methodologies, policy frameworks, and data to be largely undeveloped. This article proposes a top-down conceptual policy framework that can be used to develop key ‘enabling factors’ with the view of extending the eligibility of carbon markets and climate finance to NRM activities undertaken in mountain grasslands and shrublands in the same way that has been afforded to other ecosystems. Policy relevance This is the first study to explicitly highlight the important role that the mountain grasslands and shrublands might play in international climate policy, and how carbon finance mechanisms might support better NRM in these areas. It is also the first to investigate why these incentives have not been adopted thus far. The article concludes by proposing a novel top-down ‘carbon incentive enabling’ framework that could be driven by governments and mountain development focused organizations so as to capture some of the opportunities offered by carbon-based incentives, and help meet international climate policy objectives. 相似文献
15.
Policy documents and academic literature suggest that Clean Development Mechanism (CDM) finance could complement traditional ‘energy access’ (EA) funding in developing countries, including the Least Developed Countries (LDCs). Yet these propositions have not been empirically tested. This study helps fill this gap by examining constraints to CDM project passage through five stages of an idealized project development cycle (PDC) in Tanzania, and their implications for the ability of the CDM to contribute to financing energy access in LDCs. Twenty-five semi-structured interviews and documentary material were analysed using an analytical framework developed for systematic investigation of constraints. Institutional constraints such as the under-performance of Tanzania's Designated National Authority were the most often mentioned obstacles for project development. Yet non-institutional constraints such as limited energy sector mitigation potential, indigenous skill shortages, and low carbon market prices also hinder project development. Institutional constraints buttress, rather than supersede, pre-existing non-institutional constraints, and together they prevent energy projects from completing the PDC and accessing CDM finance. The number and severity of constraints suggest that the situation is unlikely to change rapidly, and that the CDM sustains and exacerbates existing global inequalities. Since traditional energy access funding is insufficient to address these inequalities, new funding and policy mechanisms are required. Policy relevance The CDM fails to fill the EA financing gap in Tanzania. This is also true for other LDCs where comparable project development challenges prevail. The CDM therefore appears to sustain uneven development patterns overlooking those most in need. Claims about its potential to enhance EA are misplaced, and the situation is unlikely to change rapidly. CDM and carbon market projects more widely will have limited ability to help financing EA in LDCs, even if the institutional setting within which they are implemented were reformed in the future. Yet traditional energy funding will be inadequate on its own. The debate over extending the CDM post-2017, when the second Kyoto Protocol commitment period expires, should be informed by honest appraisal of its merits and defects. Policy makers should revisit lessons provided by this article and wider research to help ensure that new EA mechanisms are not hampered by constraints and can benefit those most in need. 相似文献
16.
This article provides an ex post analysis of the compliance of the Parties to the Kyoto Protocol during the first commitment period (2008–2012) based on the final data for national GHG emissions and exchanges in carbon units that became available at the end of 2015. On the domestic level, among the 36 countries that fully participated in the Kyoto Protocol, only nine countries emitted higher levels of GHGs than committed and therefore had to resort to flexibility mechanisms. On the international level – i.e. after the use of flexibility mechanisms – all Annex B Parties are in compliance. Countries implemented different compliance strategies: purchasing carbon units abroad, stimulating the domestic use of carbon credits by the private sector and incentivizing domestic emission reductions through climate policies. Overall, the countries party to the Protocol surpassed their aggregate commitment by an average 2.4 GtCO2e yr–1. Of the possible explanations for this overachievement, ‘hot-air’ was estimated at 2.2 GtCO2e yr–1, while accounting rules for land use, land-use change and forestry (LULUCF) further removed 0.4 GtCO2e yr–1 from the net result excluding LULUCF. The hypothetical participation of the US and Canada would have reduced this overachievement by a net 1 GtCO2e yr–1. None of these factors – some of which may be deemed illegitimate – would therefore on its own have led to global non-compliance, even without use of the 0.3 GtCO2e of annual emissions reductions generated by the Clean Development Mechanism. The impact of domestic policies and ‘carbon leakage’ – neither of which is quantitatively assessed here – should not be neglected either. Policy relevance Given the ongoing evolution of the international climate regime and the adoption of the Paris Agreement in December 2015, we believe that there is a need to evaluate the results of the first commitment period of the Kyoto Protocol. To our knowledge there has been no overarching quantitative ex post assessment of the Kyoto Protocol based on the final emissions data for 2008–2012, which became available in late 2015. This article attempts to fill this gap, focusing on the domestic and international compliance of the Parties to the Kyoto Protocol in the first commitment period. 相似文献
17.
Successful efforts of indigenous groups to reduce emissions from deforestation and forest degradation in developing countries (REDD+) will likely vary with how the initiatives are designed and implemented. Whether REDD+ initiatives are carried out by national governments or decentralized to sub-national or project-level institutions with a nested approach could be of great consequence. I describe the Suruí Forest Carbon Project in Amazonian Brazil, one of the first REDD+ pilot projects implemented with indigenous people in the world. I emphasize (1) how enfranchisement of community members in the policy-planning process, fund management, and carbon baseline establishment increased project reliability and equity, and (2) how the project's quality would have likely been diminished if implemented under a centralized REDD+ scheme. Policy relevance This article explores a decentralized REDD+ intervention established in an indigenous land in Brazil. It expands the theoretical discussions on REDD+ governance and highlights how centralized REDD+ programmes are likely to be less effective than project-level interventions assisted by NGOs in terms of social benefits and community engagement. Additionally, the case study described can serve as reference for the design of critical social and technical components of REDD+. 相似文献
19.
The few systematic international comparisons of climate policy strength made so far have serious weaknesses, particularly those that assign arbitrary weightings to different policy instrument types in order to calculate an aggregate score for policy strength. This article avoids these problems by ranking the six biggest emitters by far – China, the US, the EU, India, Russia, and Japan – on a set of six key policy instruments that are individually potent and together representative of climate policy as a whole: carbon taxes, emissions trading, feed-in tariffs, renewable energy quotas, fossil fuel power plant bans, and vehicle emissions standards. The results cast strong doubt on any idea that there is a clear hierarchy on climate policy with Europe at the top: the EU does lead on a number of policies but so does Japan. China, the US, and India each lead on one area. Russia is inactive on all fronts. At the same time climate policy everywhere remains weak compared to what it could be. Policy relevance This study enables climate policy strength, defined as the extent to which the statutory provisions of climate policies are likely to restrict GHG emissions if implemented as intended, to be assessed and compared more realistically across space and time. As such its availability for the six biggest emitters, which together account for over 70% of global CO2 emissions, should facilitate international negotiations (1) by giving participants a better idea of where major emitters stand relative to each other as far as climate policy stringency is concerned, and (2) by identifying areas of weakness that need action. 相似文献
20.
Governments have a key role to play in the process of climate adaptation, through the development and implementation of public policy. Governments have access to a diverse array of instruments that can be employed to adapt their operations and influence the behaviour of individuals, organizations, and other governments. However, the choice of policy instrument is political, because it affects the distribution of benefits and costs, and entrenches institutional procedures and resources that are difficult to redeploy. This article identifies four key governing resources that governments employ in the service of adaptation and analyses these resources using criteria drawn from the policy studies literature. For each category, specific policy instruments are described, and examples are provided to illustrate how they have been used in particular jurisdictions. The article also discusses instrument selection, focusing on trade-offs among the instrument attributes, processes for setting the stage for instrument choice, jurisdictional constraints on instrument selection, and ways to avoid negative vertical and horizontal policy interplay. Policy relevance Adaptation is a nascent field of public policy, and courses of action to reduce vulnerability and build adaptive capacity are in their infancy. This article contributes to policy development and analysis by identifying the range of policy instruments available to governments and analysing concrete ways in which they are employed to implement adaptation policy objectives. Taking stock of these adaptation tools and comparing their behavioural assumptions and attributes helps to illuminate potential policy options, and to evaluate their technical viability, political acceptability, and economic feasibility. Providing examples of how these instruments have been implemented successfully in other jurisdictions offers ideas and lessons for public officials. 相似文献
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