Freezing Carbon Dioxide Emissions: An Offset Policy for Slowing Global Warming
Environmental Law, Vol. 22, p. 623, 1992
53 Pages Posted: 24 Jun 2009
Date Written: 1992
This Article uses the lessons learned from other emissions trading programs to assess the potential effectiveness of various approaches to the control of greenhouse gases and recommends the design of a CO2 emissions policy. Section II examines the relative effectiveness of a CO2 offset program compared to traditional regulatory standards, a carbon tax, and emissions trading programs for other air pollutants. Section III develops the optimal design of a CO2 offset program. A total of twenty policy choices encountered in the design of such a program are evaluated and the best option for each policy choice is identified. Appendix A presents the twenty policy choices and the available options. In analyzing these policy choices, Section III identifies the important issues in designing and implementing a CO2 offset policy, and outlines the most feasible and effective blueprint for such a program.
Keywords: Emissions, CO2, offset program
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