Cap and Trade

05 Oct 2018

Virginia's Proposed Regulations for Linking with the Regional Greenhouse Gas Initiative: Complexity, Innovation, and a Few Cautions

States: Virginia,
Resource Type: Policy Brief

Adoption Year: 2018
Abstract: Virginia, and its governors in particular, deserve credit for taking on the complex issue of beginning to regulate carbon emissions from the power sector and other parts of the state economy. They have adopted an innovative approach based on a consignment method to accomplish these objectives. The approach has the consequence of added administrative complexity as compared to simpler models used in other states. Discussed here is the consignment method, its complexities, and an offering of a few cautions.
Read more
01 Sep 2008

Federalism in the Green House: Defining a Role for States in a Federal Cap-and-Trade Program

States: Federal,
Resource Type: Policy Brief

Adoption Year: 2008
Abstract: Defining a role for states within a federal cap-and-trade program will require balancing the benefits of preserving states’ ability to innovate and spur emissions reductions with the challenges that state-by-state regulation may create for some businesses. Finding the approach that draws on the unique strengths of each level of government will help ensure a more effective nationwide cap-and-trade program and a more cost-effective means for reducing emissions. However, it requires expressly providing a mechanism for state action in the federal law. This policy brief presents the competing arguments for state-led and federal-led climate legislation, and argues for a third—“hybrid”—approach that maximizes the strengths of each level...
Read more