[DECEMBER FREE REPORT]

Climate change is an urgent issue that requires immediate attention in order to minimize the long-term global impacts caused by the burning of fossil fuels. The release of carbon dioxide into the atmosphere is one of the main contributors to global warming and other environmental issues, such as ocean acidification. To address this, governments around the world have implemented various federal policies in an attempt to reduce carbon emissions. This report will provide an overview of the efficacy of these policies, as well as make recommendations for how to better mitigate the effects of climate change.

To reduce carbon emissions, governments have implemented a variety of policies, including carbon taxes, emissions trading schemes, and renewable energy subsidies. Carbon taxes, which are taxes placed on the burning of fossil fuels, are intended to reduce the use of these resources by making them more expensive. Emissions trading schemes, otherwise known as cap-and-trade systems, create a market in which companies are able to trade emissions credits, allowing them to reduce emissions while being compensated for doing so. Finally, renewable energy subsidies are incentives given to consumers and businesses to encourage the use of renewable energy sources, such as solar and wind power, over traditional fossil fuels. 

In terms of their efficacy, federal policies on climate change have had mixed results. Carbon taxes and emissions trading schemes appear to be largely effective in reducing carbon emissions, with studies showing that a carbon tax of $50 per ton of carbon dioxide could lead to an 11-17% reduction in emissions. Renewable energy subsidies, on the other hand, have been less effective, as they often rely on the consumer to make the switch to renewable energy sources, which can be more expensive than traditional fossil fuels. 

In order for federal policies to be more effective, governments should focus on making renewable energy sources more accessible and affordable. This can be achieved through the implementation of further subsidies and incentives for the use of renewable energy, as well as reducing the cost of installation of these energy sources. Additionally, policies should be focused on the reduction of energy consumption overall, rather than just the shifting from fossil fuels to renewable energy sources. Further, reducing deforestation and educating the public on the importance of reducing their carbon footprint can help reduce carbon emissions.