The Paris Agreement on Climate Change is a historic diplomatic achievement. At the core of the agreement are the country-level emission reduction pledges and timetables that were submitted by 186 countries. The agreement also establishes procedures for updating and evaluating progress in meeting these national commitments. Governments will be under considerable public pressure to deliver. How can they make it work? As we argue in our new paper, the crucial thing is to price energy right.

Read the International Monetary Fund´s blog post about its new paper.