Peterson Institute for International Economics published a new working paper on the transition to carbon neutrality.

The authors note a significant variety of national approaches to setting goals and implementing climate policy: from introducing a "carbon tax" to subsidizing renewable energy. Experts focus on the spillover effects of climate policy. For example, the introduction of a "carbon cap" may have negative consequences for domestic industry, creating a competitive advantage for foreign producers, and lead to a decrease in government revenues. The result is a more restrained policy in the field of environmental protection.

Experts suggest two tools to mitigate spillovers.

• “carbon border adjustments” – introduction of additional taxes on imports.
• "climate clubs" for the implementation of a coordinated balanced climate policy.