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Reflections--Carbon Pricing in Practice

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  • Tom H. Tietenberg

Abstract

Carbon pricing is a broad term that encompasses two policy approaches: emissions trading and carbon taxation. Emissions trading places a cap on the aggregate emission level and allows the market to determine the price, whereas carbon taxation sets the price and allows the market to determine the aggregate level of emissions. Although programs to address climate change based on pricing carbon are relatively new, programs to price pollution more generally are not. Various forms of emissions trading and pollution fees (or taxes) have been around for some time. Existing carbon pricing programs provide a wealth of experience from which we can draw insights about the effectiveness of particular design options and how and why context can be important. This "Reflections" reviews these operating programs and identifies some of the chief lessons from this experience. (JEL: Q53, Q58) Copyright 2013, Oxford University Press.

Suggested Citation

  • Tom H. Tietenberg, 2013. "Reflections--Carbon Pricing in Practice ," Review of Environmental Economics and Policy, Association of Environmental and Resource Economists, vol. 7(2), pages 313-329, July.
    • Handle: RePEc:oup:renvpo:v:7:y:2013:i:2:p:313-329
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    Cited by:

    1. Heimvik, Arild & Amundsen, Eirik S., 2021. "Prices vs. percentages: Use of tradable green certificates as an instrument of greenhouse gas mitigation," Energy Economics, Elsevier, vol. 99(C).
    2. Weijiang Liu & Yangyang Li & Tingting Liu & Min Liu & Hai Wei, 2021. "How to Promote Low-Carbon Economic Development? A Comprehensive Assessment of Carbon Tax Policy in China," IJERPH, MDPI, vol. 18(20), pages 1-16, October.
    3. S. Niggol Seo, 2017. "Beyond the Paris Agreement: Climate change policy negotiations and future directions," Regional Science Policy & Practice, Wiley Blackwell, vol. 9(2), pages 121-140, June.
    4. Joao Leitao & Joaquim Ferreira & Ernesto Santibanez‐Gonzalez, 2021. "Green bonds, sustainable development and environmental policy in the European Union carbon market," Business Strategy and the Environment, Wiley Blackwell, vol. 30(4), pages 2077-2090, May.
    5. Chang-Jing Ji & Yu-Jie Hu & Bao-Jun Tang, 2018. "Research on carbon market price mechanism and influencing factors: a literature review," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 92(2), pages 761-782, June.
    6. Jacobs, Leif & Quack, Lara & Mechtel, Mario, 2022. "Distributional effects of carbon pricing by transport fuel taxation," Energy Economics, Elsevier, vol. 114(C).
    7. Kim, Man-Keun & Kim, Taehoo, 2016. "Estimating impact of regional greenhouse gas initiative on coal to gas switching using synthetic control methods," Energy Economics, Elsevier, vol. 59(C), pages 328-335.
    8. Runst, Petrik & Höhle, David, 2022. "The German eco tax and its impact on CO2 emissions," Energy Policy, Elsevier, vol. 160(C).
    9. Johan Lilliestam & Anthony Patt & Germán Bersalli, 2022. "On the quality of emission reductions: observed effects of carbon pricing on investments, innovation, and operational shifts. A response to van den Bergh and Savin (2021)," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 83(3), pages 733-758, November.
    10. Thomas, Sebastian, 2014. "Blue carbon: Knowledge gaps, critical issues, and novel approaches," Ecological Economics, Elsevier, vol. 107(C), pages 22-38.
    11. Leif Jacobs & Lara Quack & Mario Mechtel, 2021. "Distributional Effects of Carbon Pricing by Transport Fuel Taxation," Working Paper Series in Economics 405, University of Lüneburg, Institute of Economics.
    12. Buchholz Wolfgang & Heindl Peter, 2015. "Ökonomische Herausforderungen des Klimawandels," Perspektiven der Wirtschaftspolitik, De Gruyter, vol. 16(4), pages 324-350, December.
    13. Ora Freedman & Martin Freedman & A. J. Stagliano, 2015. "Assessing CO2 Emissions Reduction: Progress toward the Kyoto Protocol Goals in the European Union," International Journal of Business and Social Research, MIR Center for Socio-Economic Research, vol. 5(11), pages 75-86, November.
    14. Peled, Yoav & Zemah Shamir, Shiri & Shechter, Mordechai & Rahav, Eyal & Israel, Alvaro, 2018. "A new perspective on valuating marine climate regulation: The Israeli Mediterranean as a case study," Ecosystem Services, Elsevier, vol. 29(PA), pages 83-90.
    15. Abrell, Jan & Rausch, Sebastian & Streitberger, Clemens, 2019. "The economics of renewable energy support," Journal of Public Economics, Elsevier, vol. 176(C), pages 94-117.
    16. Runst, Petrik & Höhle, David, 2021. "Quasi-carbon taxation - The German eco tax and its impact on CO2 emissions," ifh Working Papers 29/2021, Volkswirtschaftliches Institut für Mittelstand und Handwerk an der Universität Göttingen (ifh).
    17. Ora Freedman & Martin Freedman & A. J. Stagliano, 2015. "Assessing CO2 Emissions Reduction: Progress toward the Kyoto Protocol Goals in the European Union," International Journal of Business and Social Research, LAR Center Press, vol. 5(11), pages 75-86, November.
    18. Jeroen den Bergh & Ivan Savin, 2021. "Impact of Carbon Pricing on Low-Carbon Innovation and Deep Decarbonisation: Controversies and Path Forward," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 80(4), pages 705-715, December.
    19. Yongrok Choi & Yunning Ma & Yu Zhao & Hyoungsuk Lee, 2023. "Inequality in Fossil Fuel Power Plants in China: A Perspective of Efficiency and Abatement Cost," Sustainability, MDPI, vol. 15(5), pages 1-15, March.
    20. Inhwan Ko & Taedong Lee, 2022. "Carbon pricing and decoupling between greenhouse gas emissions and economic growth: A panel study of 29 European countries, 1996–2014," Review of Policy Research, Policy Studies Organization, vol. 39(5), pages 654-673, September.
    21. S. Niggol Seo, 2015. "Adaptation to Global Warming as an Optimal Transition Process to A Greenhouse World," Economic Affairs, Wiley Blackwell, vol. 35(2), pages 272-284, June.

    More about this item

    JEL classification:

    • Q53 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Air Pollution; Water Pollution; Noise; Hazardous Waste; Solid Waste; Recycling
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy

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