Because of the global commons nature of climate change, international cooperation among nations will likely be necessary for meaningful action at the global level. At the same time, it will inevitably be up to the actions of sovereign nations to put in place policies that bring about meaningful reductions in the emissions of greenhouse gases. Due to the ubiquity and diversity of emissions of greenhouse gases in most economies, as well as the variation in abatement costs among individual sources, conventional environmental policy approaches, such as uniform technology and performance standards, are unlikely to be sufficient to the task. Therefore, attention has increasingly turned to market-based instruments in the form of carbon-pricing mechanisms. We examine the opportunities and challenges associated with the major options for carbon pricing: carbon taxes, cap-and-trade, emission reduction credits, clean energy standards, and fossil fuel subsidy reductions.
Press Release — Apr 1, 2020
Major New Study Charts Course to Net Zero Industrial Emissions
Interdisciplinary team assesses technology and policy strategies for industrial decarbonization
Working Paper — Mar 31, 2020
Have US Fuel Economy and Greenhouse Gas Emissions Standards Improved Social Welfare?
This paper provides the first comprehensive social welfare estimates of recent fuel economy and greenhouse gas emissions standards.
Journal Article — Mar 29, 2020
Technologies and Policies to Decarbonize Global Industry: Review and Assessment of Mitigation Drivers through 2070
Fully decarbonizing global industry is essential to achieving climate stabilization, and reaching net zero greenhouse gas emissions by 2050–2070 is necessary to limit global warming to 2 °C. This paper assembles and evaluates technical and policy interventions, both on the supply side and on the demand side.