Bai, Jennie; Ru, Hong - National Bureau of Economic Research - 2022
We study how the implementation of emissions trading systems (ETS) impacts emissions reductions and the usage of … implementations, we show that ETS adoption materially reduced greenhouse gas (carbon dioxide) emissions by 12.1% (18.1%). Moreover …, ETSs reduced overall emissions by cutting fossil fuel usage, such as coal, by 23.70% while boosting the usage of renewable …