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A descriptive framework to evaluate instrument packages for the low-carbon transition

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  • Vollebergh, Herman
  • van der Werf, Edwin
  • Vogel, Johanna

Abstract

We develop a descriptive framework to facilitate policy instrument evaluation in relation to the low-carbon transition. The framework consists of a stock-taking and mapping analysis based on five questions. Four questions allow the policy maker to take stock of the existing set of instruments and provide a description of the key attributes and incentive of individual instruments. These attributes are subsequently mapped to identifiers of market failures related to the transition. A fifth question considers the coherence of the mix or package of policy instruments that the instruments constitute. The result is an overview of the incentives for firms and households to contribute to the transition towards a decarbonised economy. This can then be used to evaluate whether the set of policy instruments can be improved. We apply our framework to the residential and commercial (buildings) sector in an ambitious country, Austria.

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  • Vollebergh, Herman & van der Werf, Edwin & Vogel, Johanna, 2023. "A descriptive framework to evaluate instrument packages for the low-carbon transition," Ecological Economics, Elsevier, vol. 205(C).
    • Handle: RePEc:eee:ecolec:v:205:y:2023:i:c:s0921800922003780
    DOI: 10.1016/j.ecolecon.2022.107717
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    2. Yang, Lisi & Liu, Linqing & Yan, Kai & Cai, Chunhua & Geng, Yannan, 2023. "“Carrot and stick”: Green fiscal policy, upper echelons expertise, and the green mergers and acquisitions," Finance Research Letters, Elsevier, vol. 58(PD).
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    4. Denisa Szabo & Mihai Dragomir & Mihail Țîțu & Diana Dragomir & Sorin Popescu & Silvia Tofană, 2023. "Sustainable Low-Carbon Production: From Strategy to Reality," Sustainability, MDPI, vol. 15(11), pages 1-16, May.

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