Why Carbon Pricing Has Often Failed
Why Carbon Pricing Has Often Failed
This chapter examines nearly two decades of experience (1997-2015) in federal and sub-federal governments in the United States and Canada but also European and Asian nations in attempting to adopt carbon pricing. It explores various stages of the policy life-cycle and concludes that there are many points that challenge the adoption and durability of these policies. Even in cases where a policy is approved, its launch process, survival through a subsequent election and change of leadership, and management over the longer term can pose great challenges, frequently resulting in an erosion of support and reversal of policy. Enduring those stages of the life cycle is no guarantee that a surviving policy actually succeeds in reducing emissions in a cost-effective manner.
Keywords: carbon, price, pricing, tax, cap and trade, politics, emissions trading scheme, United States, Canada, Australia
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