September 2008
"Linkage of Tradable Permit Systems in International Climate Policy Architecture"
Discussion Paper
By Judson Jaffe and Robert N. Stavins, Albert Pratt Professor of Business and Government; Member of the Board; Co-Director, Harvard Project on International Climate Agreements
Cap-and-trade systems have emerged as the preferred national and regional instrument for reducing emissions of greenhouse gases throughout the industrialized world, and the Clean Development Mechanism — an international emission-reduction-credit system — has developed a substantial constituency, despite some concerns about its performance. Because linkage between tradable permit systems can reduce compliance costs and improve market liquidity, there is great interest in linking cap-and-trade systems to each other, as well as to the CDM and other credit systems. We examine the benefits and concerns associated with various types of linkages, and analyze the near-term and long-term role that linkage may play in a future international climate policy architecture.
December 10, 2007
"Linking Tradable Permit Systems: Opportunities, Implications, and Challenges"
Presentation
By Robert N. Stavins, Albert Pratt Professor of Business and Government; Member of the Board; Co-Director, Harvard Project on International Climate Agreements and Judson Jaffe
Project Co-Director Robert Stavins and Analysis Group Inc.'s Judson Jaffe spoke at an International Emissions Trading Association (IETA)–sponsored side event at the United Nations Climate Change Conference in Bali, Indonesia. They presented their new report on linking greenhouse gas emissions trading systems, which was also sponsored by IETA.
November 2007
Linking Tradable Permit Systems for Greenhouse Gas Emissions: Opportunities, Implications, and Challenges
Report
By Robert N. Stavins, Albert Pratt Professor of Business and Government; Member of the Board; Co-Director, Harvard Project on International Climate Agreements and Judson Jaffe
"With tradable permit systems for greenhouse gas (GHG) emissions in place in some parts of the world and actively being considered in others, increasing attention has been given to the opportunity to link these systems. Linking occurs when the government that maintains one system allows regulated entities to use allowances or credits from another system to meet domestic compliance obligations."
