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While global greenhouse gas (GHG) emissions are still rising, a number of countries have emerged with a sustained record of emissions reductions. In this article, we identify these countries and examine their progress, exploring how fast, how deep, and in which sectors they have reduced emissions. We analyse changes in all major GHG emissions sources, with both production – and consumption-based accounting, but exclude very small countries with high volatility, along with land-use, land-use change and forestry CO2 emissions. We find that 24 countries have sustained reductions in annual CO2 and GHG emissions between 1970 and 2018, in total equalling 3.2 GtCO2eq since their respective emissions peaks. In all but three countries, overall GHG reductions are less than energy and industrial CO2 reductions alone. We group countries into three types of emissions pathway: six former Eastern Bloc countries, where emissions declined rapidly in the 1990s and have continued on a downward trajectory since; six Long-term decline countries, which have sustained reductions since the 1970s; and 12 Recent peak countries, whose emissions decline began in the 2000s. In all cases, emissions reductions were achieved primarily in the energy systems sector, specifically in electricity and heat generation, which still remains the largest source of emissions in most countries. By contrast, in the transport sector, emissions tend to be stable or increasing. Transport is the second largest source of current emissions in Recent peak and Long-term decline countries. While the total GHG reductions of these 24 countries are trivial compared to recent global emissions growth, some have achieved a decline of up to 50% in their annual emissions, showing what is possible even under very moderate climate action. Most countries achieved emissions reductions alongside sustained economic growth, and some approached the fast annual rates of change that will be needed across the world in the coming decades to limit warming to 2°C. This raises the hope that more substantive climate policy, as planned in a growing number of countries, may bring about deeper and more rapid emissions reductions than some may expect today. Key policy insights 24 countries have sustained CO2 and GHG emissions reductions between 1970 and 2018 The annual emissions reductions of some countries are within the range of those needed to limit global warming to 2°C, but not consistently, nor across all underlying sectors Most emissions reductions were achieved in the energy sector; transport emissions have remained stable or continue to grow [ABSTRACT FROM AUTHOR]

This paper studies the role of expectations and monetary policy in the economy's response to climate actions. We show that in a stochastic environment, without the standard assumption of the perfect rationality of agents, there is more uncertainty regarding the path and the economic impact of a climate policy, with a potential threat to the ability of central banks to maintain price stability. Market beliefs and behavioral agents increase the trade-offs inherent to the chosen mitigation tool, with a carbon tax entailing more emissions uncertainty than in a rational expectations model and a cap-and-trade scheme implying a more pronounced pressure on allowance prices and inflation. The impact on price stability is worsened by delays in the implementation of stringent climate policies, the lack of confidence in the ability of central banks to keep inflation under control, and the adoption of monetary rules tied to expectations rather than current macroeconomic conditions. Central banks can implement successful stabilization policies that reduce the uncertainty surrounding the impact of climate actions and support the greening process while remaining within their mandate. • This work investigates how expectations can shape a green transition. • Without fully rational agents impacts of climate policy are more uncertain. • Carbon taxes and cap-and-trade's drawbacks are enlarged by non-fully-rational agents. • Delayed action and low credibility in central banks cause major inflationary pressure. • A reactive monetary policy can reduce uncertainty on climate policies' impacts. [ABSTRACT FROM AUTHOR]

• Preferences towards land use policies addressed to climate change adaptation in Garda Lake municipalities are evaluated. • Limiting soil consumption benefits the local dwellers of Garda lake the most. • The interest toward an increase in green urban area is marginal. • The proposal of re-naturalisation of abandoned areas decreases the dwellers utility. In urban contexts land-use planning can play a central role to promote adaptation and mitigation strategies to climate change. Limiting soil consumption, improving urban greening and restoring abandoned areas are three of the most important strategies towards a sustainable land use.. The extent to which these three actions can be effectively implemented depends on the specific biophysical and cultural characteristics of the local context as well as on the preferences of residents. We conducted a Choice Experiment (CE) on a sample of 500 people living in four municipalities of the lake Garda western coastal strip, in Italy, to assess the willingness to pay (WTP) towards these three planning strategies based on alternative land-use. The proposed land use strategies are presented as a feasible way to improve the mitigation and adaptation capacity of the local context. Our results suggest that the local community perceives the growth rate of sealed areas as the most pressing issue, and people are in favour of measures aimed at containing the phenomenon. Efforts in this direction are needed and should inform the current policy debate on local land-use planning. [ABSTRACT FROM AUTHOR]