Extent of global decarbonization of the power sector through energy policies and governance capacity

Abstract

During the 2007-2008 global financial crisis, many countries enacted clean energy policies as a part of their economic stimulus packages. These policies are believed to have contributed to a significant reduction in the CO2 intensity of electricity. Here we conduct a retrospective overview and evaluation of energy policies’ effectiveness in reducing the CO2 intensity of electricity. We utilize governance capacity as a measure of policy implementation stringency, and the interaction between governance capacity and the number of categorized policies to adjust policy variables for governance effectiveness. We distinguish between the short- and long-term effects of these policies to investigate the impacts of policy instruments on CO2 mitigation. The results suggest that the increased policy efforts, when executed with effective governance, have led to long-term cumulative effects. Our findings provide insights into the spatiotemporal dynamics of energy policies in CO2 mitigation, serving as a reference for policymakers in the post-COVID-19 era.