Co-dynamics of public support and the rigour of climate policies
Human resources refer to the individuals or workforce inside the organisation who are in charge of completing the tasks delegated to them in order to achieve the aims and objectives of the organisation. Only via effective hiring and selection, correct orientation and induction, training, skill development, and right evaluation of personnel (performance appraisal), as well as through providing and maintaining proper remuneration and benefits, benefits, and training. Any organisation that wants to be active and growth-oriented must invest in its human resources. Human resources, in contrast to other resources, have nearly limitless potential. Only by fostering an environment that can consistently recognise, emphasise, nurture, and employ people's skills can the potential be fully realised. Countries must enact strict regulations to reduce climate change. But there is little public support for these programmes. Additionally, it tends to get smaller with increased rigour. Through general elections, as demonstrated by the Australian government's decision to end carbon pricing; through direct referenda, as demonstrated by Washington State's (USA) citizens' rejection of carbon taxes; and through social movements, as demonstrated by the 2018 Yellow Vest protests in France against a fuel tax that included a carbon component. On the other hand, instances like the Canadian province of British Columbia's carbon price demonstrate that rising public support and ambitious policy goals can coexist. We provide a novel method for researching climate policy in order to establish sufficiently robust regulations that can be relied upon by the general public. The design of climate policies is viewed as dynamic and endogenous to the underlying policies. According to the theory, a policy may only be put into effect if public support for the current design rises above a certain level. Our method deviates from the traditional economic approach in that welfare impact is only one of several variables that affect policy formulation, as opposed to being the main criterion. Focusing on a theoretically ideal carbon price that has little likelihood of being implemented under actual political circumstances is problematic given the magnitude of emissions reduction that is necessary. After committing to a goal of climate mitigation, policymakers' purpose is no longer to maximise welfare but to develop effective policies within allowable restrictions. We provide a way to find a politically more practical viewpoint on the creation of climate policy in light of these factors. It consists of the GE-ABM model, which has three modules to characterise the relationship between public opinion and the severity of climate policy, and to examine the political viability of climate policy, with a focus on carbon taxation with a range of revenue use options and performance standards. A straightforward general equilibrium model that was taken from the literature on climate economics makes up the first module. To capture the social interactions that drive opinion dynamics on policy support, the second module uses an agent-based model (ABM). A third module's interacting dynamics of policy support and policy design are brought about by the fact that the stringency of the policy in each period depends on the prevailing public opinion. The false perception of the economic effects of taxation is a significant barrier to public support for a carbon price. People routinely overestimate its expenses while underestimating its efficacy. The model's basic premise is that after a policy is put into place, individuals learn from it and gradually change their views until they reflect the results as they actually occur. The model then forecasts which policy directions and revenue streams will allow for the achievement of a predetermined mitigation target while ensuring adequate public support over time. Additionally, we look into how social influence dynamics and opinion stability affect public support for various policy trajectories. Finally, we investigate how fundamental income inequality affects efforts to win crucial public support for climate policies.