This brief outlines the motivation for and key features of a tax designed to reduce emissions of greenhouse gases (GHGs). The two most commonly discussed market-based instruments for reducing GHG emissions are a cap-andtrade system and a GHG (carbon) tax. …
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 …
In response to environmental impacts associated with climate change, policies are being crafted to curb the growth in greenhouse gas (GHG) emissions. European nations are already engaged in reducing emissions through the European Union Emissions Trading System (EU-ETS) as a …
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 …
Most analyses to date of options for mitigating the risk of global climate change have focused on reducing emissions of carbon dioxide and other greenhouse gases (GHGs). Much less attention has been given to the potential for storing (or “sequestering”) …
Over the upcoming decades, large-scale reductions in emissions of carbon dioxide (CO2) and other greenhouse gases (GHGs) will be required to reduce the risks of global climate change. In order to achieve this transformation, the development and diffusion of new …
In recent years, emissions trading has become an important element of programs to control air pollution. Experience indicates that an emissions trading program, if designed and implemented effectively, can achieve environmental goals faster and at lower costs than traditional command-and-control …
As businesses, policy-makers, and other stakeholders around the world have become familiar with greenhouse gas emissions trading, it has emerged as the policy of choice to address climate change. Now—with the recent agreements in Bonn and Marrakech, with new carbon …
How do we compare the costs of greenhouse gas mitigation measures taken today with the benefits produced by these actions in the future? How do we calculate the value of an investment when benefits will continue to accrue over centuries? …
This report elaborates on four issues – technological innovation, the behavior of firms, intergenerational equity, and climate “surprises” – that have profound implications for the modelers and makers of climate policy. Computer models that integrate climate science, policy, and economic …