How much does regulation matter in shaping corporate behavior? This pathbreaking, in-depth study of fourteen pulp manufacturing mills in the United States, Canada, Australia, and New Zealand reveals that steadily tightening regulatory standards have been crucial for raising environmental...

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...