By Davide Furceri, Michael Ganslmeier, and Jonathan D. OstryFew issues have sparked more attention than how to avoid environmental and human catastrophe from climate change. But even in the wake of massive public protests and an ambitious agenda since the 2015 Paris Agreement, governments are wary of the political costs of enacting climate mitigation policies. The data on political support comes from the private consultancy PRS Group’s International Country Risk Guide. Political costs are negligible when income inequality is held in check, either through the design of the mitigation policies themselves, or because of the adoption of complementary policies that protect the poor and allow them to bounce back from the dislocations inflicted by higher carbon prices. As with all policies that generate winners and losers, environmental legislation requires public support to be viable.

Source: The Nation August 08, 2021 18:33 UTC