The Montreal Protocol is considered the most successful international environmental treaty. Its effectiveness has made it a model for other agreements, but its power goes beyond protecting the stratospheric ozone layer. Much of the implementing legislation appears in Title VI of the Clean Air...

Offsets, and in particular international offsets, have been advanced as an important tool in climate policy, capable of significantly reducing the costs of emissions reductions. As attention turns to the existing Clean Air Act as a potential vehicle for general reduction of greenhouse gas...

In the spring of 2007, the U.S. Supreme Court ruled in Massachusetts v. EPA that the U.S. Environmental Protection Agency (EPA) must promulgate automobile tailpipe greenhouse gas emission standards under Section 202 of the Clean Air Act (CAA). American environmentalists hailed the Supreme...

Emission leakage could potentially undermine the effectiveness of unilateral climate policies. Significant emission transfers from developing countries to developed countries in the form of emissions embodied in trade have been interpreted as an indication of such leakage. To reduce leakage and...

This paper shows in an empirical context that substantial cost reductions can be achieved in the implementation of Dutch national climate policy by (i) targeting the policy at the stock of greenhouse gases, thus allowing polluters flexibility in their timing of emission reductions; and (ii)...

The benefits of climate policy normally consist exclusively of the reduced impacts of climate change, i.e., the policy's primary aim. Our analysis of benefits of climate policy suggests, however, that researchers and policymakers should also take account of ancillary benefits, e.g., in the shape...

The Kyoto Protocol marks a break-through in global warming mitigation policies as it sets legally binding emissions targets for major emitting regions. However, realisation of the Protocol depends on the clarification of several issues one of which is the permissible scope of international...