Skip to main content Accessibility help
×
Hostname: page-component-77c89778f8-m42fx Total loading time: 0 Render date: 2024-07-18T16:16:30.048Z Has data issue: false hasContentIssue false

8 - Design issues of a domestic carbon emissions trading system in the USA

Published online by Cambridge University Press:  22 September 2009

Bernd Hansjürgens
Affiliation:
Martin Luther-Universität Halle-Wittenburg, Germany
Get access

Summary

Introduction

As every student of diplomacy knows, broad international agreements are far easier to craft than specific ones, especially when compliance involves potentially costly domestic actions. While committing the United States and more than 150 other nations to the goal of stabilizing atmospheric greenhouse gas (GHG) concentrations at a level that would “prevent dangerous anthropogenic interference with the climate system,” the UN Framework Convention on Climate Change (FCCC) was mostly silent on implementation. The Kyoto Protocol is an attempt to move beyond the convention's general obligations and establish specific reduction targets for industrial nations for an initial accounting period, 2008–12.

Scholars will no doubt continue to debate whether an alternative protocol design, perhaps one starting with more modest emission reductions among a broader group of nations, might ultimately have yielded stronger results. However, neither the limitations of the protocol's architecture, nor even the gaping hole in coverage among industrial nations caused by the withdrawal of the United States from the agreement alters the fact that, once ratified, the Kyoto Protocol is likely to endure for many years as the only functioning international mechanism for achieving near-term emissions reductions.

A glance into the crystal ball suggests we are entering a period of relative quiescence in the international climate policy process. During this period, the focus of attention will likely shift to the domestic actions undertaken in industrial nations.

Type
Chapter
Information
Emissions Trading for Climate Policy
US and European Perspectives
, pp. 114 - 132
Publisher: Cambridge University Press
Print publication year: 2005

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Burtraw, D., Palmer, K., Bharvikar, R., and Paul, A. 2001. The Effect of Allowance Allocation on the Cost of Carbon Emission Trading. RFF Discussion Paper 01–30, Washington, DC: Resources for the Future.Google Scholar
Goulder, L. 2002. Mitigating the Adverse Impacts of CO2 Abatement Policies on Energy Intensive Industries. RFF Discussion Paper 02–22, Washington, DC: Resources for the Future.Google Scholar
Gruenspecht, H. K. 1982. “Differentiated regulation: the case of auto emission standards,” American Economic Review 72: 328–31.Google Scholar
Jacoby, H. D., and Ellerman, A. D. 2004. “The safety valve and climate policy,” Energy Policy 32: 481–91.CrossRefGoogle Scholar
Keeler, A. 2002. “Designing a carbon dioxide trading system: the advantages of upstream regulation.” Mimeo, Americans for Equitable Climate Solutions, July.
Olson, M. 1965. The Logic of Collective Action. Cambridge, MA: Harvard University Press.Google Scholar
Pizer, W. A. 1997. Optimal Choice of Policy Instrument and Stringency Under Uncertainty: The Case of Climate Change.” RFF Discussion Paper 97–17, Washington, DC: Resources for the Future.Google Scholar
Ross, M. T. 2002. “Analyses of GHG permit allocation and compensation issues.” Presentation before OECD Expert Meeting on the Allocation of GHG Objectives, Paris. Charles River Associates.
Schneider, S. H., and Thompson, S. L. 2000. “A simple climate model used in economic studies of global change,” in Decanio, S. J.et al. (eds.), New Directions in the Economics and Integrated Assessment of Global Climate Change. Washington, DC: Pew Center on Global Climate Change, pp. 59–80.
Smith, A. E. 2002. “Analyses of GHG Permit Allocation and Compensation Issues.” Presentation to the Electric Power Research Institute's 7th Annual Global Climate Change Research Seminar, Washington DC (June 4–5). Charles River Associates.
US Congressional Budget Office (CBO) 2001. “An evaluation of cap-and-trade programs for reducing US carbon emissions.” Washington, DC.
Weitzman, M. L. 1974. “Prices vs. quantities,” Review of Economic Studies 41: 477–91.CrossRefGoogle Scholar
Weyant, J. P., and Hill, J. N. 1999. “Introduction and overview,” Energy Journal, Special Issue: costs of the Kyoto Protocol, pp. vii–xiv.

Save book to Kindle

To save this book to your Kindle, first ensure coreplatform@cambridge.org is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

Available formats
×

Save book to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

Available formats
×