Climate change mitigation and policy concern for prioritization

Abstract

PurposeClimate change impacts and scientific evidence are now irresistible based on time scales, consequences and perspectives. Civil society leaders and business people are now agreed on emission reduction targets to mitigate the effects of climate change but the question remains: how to make sure that durable, lasting, and real mitigation options are taking place? The purpose of this paper is to ask, does climate change mitigation option (via carbon tax) exert a greater improvement within the tradeoff between climate change and economic values?Design/methodology/approachThis study tries to lessen the gap between mitigation options and economic development activities using computable general equilibrium techniques focusing on alteration of carbon tax instruments.FindingsThe findings indicate that much strong carbon tax policy compensates GDP compositions, places economic burden, shrinks enterprise savings and investment.Originality/valueThis paper describes the most favorable policy option and may find use in formulation of climate change mitigation options and policy concerns for prioritizing needs.