When Cap-and-Trade Works
When Cap-and-Trade Works
Cap-and-trade has also faced numerous political challenges but also includes some more successful cases. Some of the experience of the American sulfur dioxide emissions trading program has been replicated for carbon in the case of the Regional Greenhouse Gas Initiative. This alliance among nine Northeastern states has retained political support for more than a decade and also pioneered a system to auction allowances to generate revenue. These funds are then concentrated on expansion of energy efficiency and renewable energy in the region, thereby further addressing climate change and also building a broader base of political support.
Keywords: cap and trade, carbon, price, pricing, emission, energy, Regional Greenhouse Gas Initiative, RGGI
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