The Swiss Climate Penny: An Innovative Approach to Transport Sector Emissions

This paper describes the Swiss Climate Penny Fund, which is a voluntary agreement between the Swiss government and private sector to help ensure compliance with the motor fuel reduction target. Under the Climate Penny policy, oil importers agree to contribute CHF 0.01-0.02 for each liter of gasoline and diesel sold. The measure will generate at least CHF 70 million annually to finance climate protection projects domestically and abroad, enabling Switzerland to eliminate the anticipated transport sector compliance gap and to fulfill its greenhouse gas emission reduction obligations. Although the Climate Penny does not offer a direct incentive for individual motorists to change their behavior, it does buy time to implement transport sector policies, develop low-emission technologies/infrastructure and facilitate behavioral changes, while still delivering real, measurable and long-term climate mitigation results. The broader policy implications of the Climate Penny are briefly discussed.

Language

  • English

Media Info

Subject/Index Terms

Filing Info

  • Accession Number: 01004464
  • Record Type: Publication
  • Files: TRIS
  • Created Date: Sep 30 2005 11:49AM