Recent discussions in the United States have raised questions about the performance of the European Union’s Emissions Trading System (ETS). Some argue that this cap-and-trade system has not significantly reduced greenhouse gas emissions, has conferred windfall gains on firms receiving …
Cap and trade and a carbon tax are two distinct policies aimed at reducing greenhouse gas (GHG) emissions. Each approach has its vocal supporters. Those in favor of cap and trade argue that it is the only approach that can …
On January 15, 2009, the US Climate Action Partnership (USCAP) issued the Blueprint for Legislative Action – a detailed framework for legislation to address climate change. The Blueprint represents two years of work by USCAP members building on our January …
This paper provides an overview of the different point-of-regulation options for covering greenhouse gas emissions from natural gas under a cap-and-trade program. The paper assesses the percentage of emissions covered under the different options and the type and number of entities …
This brief presents the key issues and identifies options for the incorporation of greenhouse gas (GHG) offsets into emerging U.S. climate change policy. A GHG offset represents a reduction, avoidance, destruction, or sequestration of GHG emissions from a source not …
This brief describes issues involved in choosing the set of greenhouse gases (GHGs), emission sources, and sectors of the economy included in a cap-and-trade program. Trade-offs between three primary criteria determine whether a source should be included in a cap-and-trade …
This policy brief outlines various options for distributing greenhouse gas emission allowances under a cap-and-trade program. Allowances represent a significant source of value and can be used to compensate firms or individuals affected by climate change policy or to raise …
This paper aims to provide policymakers with practical recommendations regarding the integration of greenhouse gas (GHG) offsets into emerging regulatory systems. Offsets have an important role to play in controlling the costs associated with regulating and reducing GHGs, and in …
To meet its obligations to reduce greenhouse gas (GHG) concentrations under the Kyoto Protocol, the European Union (EU) established the first cap-and-trade system for carbon dioxide emissions in the world starting in 2005. Proposed in October 2001, the EU’s Emissions …
The Greenhouse Gas Accord announced by ten Midwestern governors in November 2007 involves nearly one fourth of U.S. greenhouse gas emissions in a regional agreement to improve energy security and design a greenhouse gas (GHG) reduction program. Among the strategies …