Top-down economic models, such as computable general equilibrium models, are the common tools to assess the economic impacts of climate change policies. However, these models are incapable of representing the detailed technological characteristics of the sources of greenhouse gas emissions.
Many countries have introduced policy measures, such as carbon pricing, greenhouse gas offsetting mechanisms, renewable energy standards, and energy efficiency improvements, to achieve their climate change mitigation targets.
Armenia and Georgia are taking the climate change agenda seriously and contributing to efforts for mitigating global climate change through various ways, including preparation of low-carbon development strategies for their future economic growth.
