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. Terms of use: Documents in
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
The 2011 Fukushima nuclear disaster and rapid global warming emphasize the necessity of reorganizing our energy system; but how do we get there? Energy and climate policy are obviously interlinked, e.g. via carbon dioxide (CO 2) emissions from fossil fuel burning in electricity generation. Policy targets are interdependent, sometimes even contradicting: The environmental soundness of current energy use has been seriously challenged by nuclear contamination and by greenhouse gas (GHG) emission reduction barriers from low coal prices, power grid insufficiencies, and oligopolistic market structures. Energy security has been threatened by military conflicts and volatile resource prices, while carbon pricing has made energy use more expensive. In order to achieve the variety of climate and energy policy targets, a multitude of instruments has been implemented: market-based programs such as carbon cap-and-trade or energy taxes, commandand-control policies such as energy efficiency standards, support schemes such as feed-in tariffs. Obviously these policies directly affect each other: Climate policy cap-and-trade makes electricity generation from fossil fuels more expensive and increases electricity prices. Energy policy feed-in tariffs change the relative prices in power production and make carbon free technologies more attractive. Also, the low-cost provision of electricity has been heavily debated in the face of trade-offs between policy induced power price increases and the call for a fair distribution of energy transformation burdens. 2 Discussion Paper presented at the 15 th Global Conference on Environmental Taxation (GCET 15),
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