The author provides an overview of carbon markets and explains how emissions trading can be important in encouraging the reduction of CO2 emissions in an efficient manner. He describes the key steps in establishing a cap-and-trade system, and reviews the European experiences with emissions...

This paper examines how border carbon adjustments (BCAs) may address the unintended consequences of uncoordinated global climate action, focusing on the economic implications for Canada. We investigate these implications under different BCA design features and by considering a coalition of...

Despite President Obama's current interest in climate policy, market-based climate policy on the US federal level still appears to be deadlocked. The same is true for Canada, which has aligned its climate policy to the US. However, regional activities are more promising as British Columbia and...

We examine the relative benefits of policy aimed at mitigating GHG emissions in Canada and globally. We find that while a carbon tax that holds the stock of global emissions below the 550 ppm level would yield positive net benefits for the world economy, the impact of such a tax on the Canadian...