Exploiting Synergy of Carbon Pricing and other Policy Instruments for Deep Decarbonization

Abstract

We address both weaknesses and strengths of recent arguments against carbon pricing . In our opinion, however, carbon pricing is one essential component of a mix of policy instruments, as no single instrument will bring about the disruptive change needed to meet the Paris Agreement goals and achieve deep carbonization. We urge the research community to assess synergies and trade-offs between different policy instruments and to take into account the important role of their social and political acceptance.