Full Title: Key Insights from a Solutions Forum on Carbon Pricing and Clean Power
Author(s): Jason Ye
Publisher(s): Center for Climate and Energy Solutions (C2ES)
Publication Date: April 1, 2015
Full Text: Download Resource
Description (excerpt):
States will have tremendous flexibility to choose how to reduce carbon emissions under the Clean Power Plan. One idea states are exploring is putting a price on carbon. The first C2ES Solutions Forum — held on April 15, 2015 — brought together legal and economic experts, state environmental directors, and business leaders to explore the potential use of market mechanisms to reduce these damaging emissions efficiently and cost-effectively. For more information about the C2ES Solutions Forum, see: http://www.c2es.org/initiatives/solutions-forum
Key insights and highlights from the event on carbon pricing and clean power include:
- Most economists agree that the most efficient way to address climate change is to put a price on carbon.
- The U.S. Environmental Protection Agency (EPA) has given states tremendous flexibility to determine the best way to achieve emission targets.
- Virtually every state is already engaged in some activity that reduces emissions.
- Market-based options available under the proposed Clean Power Plan go beyond creating or joining a cap-and-trade program or instituting a carbon tax.
- States and businesses generally agree that market mechanisms are a proven, least-cost way to reduce emissions.
- States believe support from the business community will be essential to adopting market-based options.
- State and business leaders recognize the need to talk to one another about the best way to reduce emissions.
- States are concerned about having enough time to develop market-based policies.
- State and company representatives see a role for EPA to help states after the Clean Power Plan is finalized.