Accelerating emission reduction in Israel: Carbon pricing vs. policy standards

Palatnik, R. ORCID: https://orcid.org/0000-0003-4238-456X, Davidovitch, A., Krey, V. ORCID: https://orcid.org/0000-0003-0307-3515, Sussman, N., Riahi, K. ORCID: https://orcid.org/0000-0001-7193-3498, & Gidden, M. ORCID: https://orcid.org/0000-0003-0687-414X (2023). Accelerating emission reduction in Israel: Carbon pricing vs. policy standards. Energy Strategy Reviews 45 e101032. 10.1016/j.esr.2022.101032.

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Abstract

The implementation of a carbon pricing policy to comply with GHG emission targets faces opposition in small economies. An integrated modeling exercise was carried out for Israel to assess the cost-effectiveness of GHG emission reduction options. Alternative policies in terms of carbon pricing and policy standards are evaluated. The results show that modest carbon pricing is effective. It achieves a 67% reduction in emissions, by 2050 relative to the reference year 2015, while having only a minor impact on economic growth. Policy standards currently proposed by the government will only reach a 40% emissions reduction in the same timeframe. Clean energy standards not coupled with carbon pricing may hinder efficiency but have a lesser impact on income distribution.

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