Principles for Climate Change Policy Design

Summary

• ICMM’s approach is based on applying a set of seven principles for guiding development of policy and action and industry commitments, offering a framework and approach as input to developing and implementing policy in different sovereign political jurisdictions around the world.
• Climate change policy and measures need to reflect the economic and social development goals of various countries. In the case of developing countries, they need to complement sustainable economic growth and poverty reduction while enhancing countries’ climate readiness to adapt to the impacts of climate change.
• ICMM’s principles offer a framework and approach as input to developing and implementing policy in different sovereign political jurisdictions around the world. The principles should be regarded as an integrated set: all of them are required in developing appropriate national policies and measures.
• In summary, ICMM’s principles for climate change policy design are:
  • Provide clear policies for a predictable, measured transition to a long-term price on greenhouse gas emissions.
  • Apply climate change related revenues to manage a transition to a low carbon future.
  • Facilitate trade competitiveness across sectors.
  • Seek broad-based application.
  • Be predictable and gradual.
  • Be simple and effective.
  • Support low-emission base-load generation technology development.
• If consistently applied, these principles will work to ensure a measured transition to a low carbon economy that:
  • Does not detrimentally impact the local and international competitiveness of major industries.
  • Encourages the development and use of low carbon technology.