{WGII SPM C.5.5, WGII SPM C.5.6, 
WGII SPM D.1.1, WGII SPM D.2, WGII SPM D.3.2; SRCCL SPM C.3, 
SRCCL TS.1}
Drawing on diverse knowledge and partnerships, including 
with women, youth, Indigenous Peoples, local communities, and 
ethnic minorities can facilitate climate resilient development 
and has allowed locally appropriate and socially acceptable 
solutions (high conﬁdence). {WGII SPM D.2, D.2.1}
Many regulatory and economic instruments have already been 
deployed successfully. These instruments could support deep 
emissions reductions if scaled up and applied more widely. 
Practical experience has informed instrument design and helped to 
improve predictability, environmental effectiveness, economic efﬁciency, 
and equity. (high conﬁdence) {WGII SPM E.4; WGIII SPM E.4.2}
Scaling up and enhancing the use of regulatory instruments, 
consistent with national circumstances, can improve mitigation 
outcomes in sectoral applications (high conﬁdence), and 
regulatory instruments that include ﬂexibility mechanisms 
can reduce costs of cutting emissions (medium conﬁdence). 
{WGII SPM C.5.4; WGIII SPM E.4.1} 
Where implemented, carbon pricing instruments have incentivized 
low-cost emissions reduction measures, but have been less 
effective, on their own and at prevailing prices during the 
assessment period, to promote higher-cost measures necessary 
for further reductions (medium conﬁdence). Revenue from carbon 
taxes or emissions trading can be used for equity and distributional 
goals, for example to support low-income households, among other 
4.7 Governance and Policy for Near-Term Climate Change Action
Effective climate action requires political commitment, well-aligned multi-level governance and institutional 
frameworks, laws, policies and strategies. It needs clear goals, adequate ﬁnance and ﬁnancing tools, coordination 
across multiple policy domains, and inclusive governance processes.