Emissions trading: an overview of the EPA (Environmental Protection Agency) policy statement. Research report
Technical Report
·
OSTI ID:5809609
The Environmental Protection Agency's Emissions Trading Statement is examined. The Statement consolidates the emission reductions achieved and used through current administrative procedures for the bubble, netting, offset, and banking programs into a common currency: the Emission Reduction Credit (ERC). The Statement provides guidelines for air quality management regions to develop generic state implementation plan provisions governing transactions in ERCs. The Statement invites firms to create surplus discharge reductions beyond current control requirements. The incentive for participation is the opportunity to make a profit by selling ERCs to other firms that face higher marginal emissions control costs. The existing regulatory implementation incentive structure for stationary source dischargers is described, and the evolution of the Statement is traced. Issues that may limit the cost-effectiveness of the ERC program are considered.
- Research Organization:
- National Science Foundation, Washington, DC (USA). Div. of Policy Research and Analysis
- OSTI ID:
- 5809609
- Report Number(s):
- PB-85-150316/XAB; NSF/PRA-82013
- Country of Publication:
- United States
- Language:
- English
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