Outlet: Royal Economic Society (RES)

The Royal Economic Society (RES) is pleased to announce that the 2025 Royal Economic Society Prize has been awarded to Grischa Perino, Robert Ritz, and Arthur van Benthem for the article ‘Overlapping Climate Policies’.

The Prize-winning article was published in the October 2025 issue of The Economic Journal. You can read the article here.

The Prize was awarded for the following reasons:

The authors provide a unified framework to assess how unilateral jurisdictional policies, such as coal phase-outs or renewables support, interact with wider multi-jurisdictional systems like the EU ETS. The study offers clear and interpretable insights into a critical and timely policy question. The RES Prize Committee was struck by the relevance of the analysis, which provides a powerful tool for policymakers to gauge climate effectiveness. The analysis creatively demonstrates how certain demand-side policies can be complementary while other interventions may inadvertently backfire, effectively opening vital new research questions for the design of global climate portfolios.

In a joint statement, the winners of the 2025 Royal Economic Society Prize said:

“Our paper offers a unified framework to study the interaction between several climate policies targeted on the same emitters. Seemingly minor details can make all the difference for whether the policy mix is effective at cutting emissions. We hope our research can serve as a useful real-time input for policymakers globally as they develop climate policy portfolios. We are deeply honoured to receive the Royal Economic Society Prize.”

The Prize is awarded annually for the best paper published in The Economic Journal by a committee consisting of the RES President, the Editor-in-Chief and a member of RES Council.

Photo credit: Royal Economic Society