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

Abstract

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