Regional market-based climate policy in North America: efficient, effective, fair?

Abstract

Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Despite President Obama's current interest in climate policy, market-based climate policy on the US federal level still appears to be deadlocked. The same is true for Canada, which has aligned its climate policy to the US. However, regional activities are more promising as British Columbia and California have started using market-based approaches recently. Against this background, the paper asks: Can state level market-based climate policy be a sustainable alternative or supplement to federal action? Terms of use: Documents inWhich of the two programs does better in terms of fulfilling ambitious sustainability criteria? How can the programs be improved? In order to answer these questions, in a comparative fashion, the paper analyzes the design and the results of the British Columbia Carbon Tax and the California Cap-andTrade Program and evaluates them based on sustainability criteria. By doing so, the paper provides a comparative evaluation of two North American sub-national level market-based climate policy programs, shows the significance and the challenges of such regional initiatives, identifies best-practice design elements, and provides recommendations for regional market-based climate policy design.JEL-Classification: D62, D63, Q48, Q54, Q58

Lehren aus dem regionalen Emissionshandel in Nordamerika

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Taxation for a Circular Economy: New Instruments, Reforms, and Architectural Changes in the Fiscal System

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