University of Sussex
Browse

File(s) under permanent embargo

The economics of personal carbon trading

journal contribution
posted on 2023-06-09, 17:15 authored by Matthew LockwoodMatthew Lockwood
Proponents of personal carbon trading (PCT) make strong claims for the policy on the basis of environmental effectiveness, efficiency and equity, in comparison with alternative policies such as ‘upstream’ trading schemes. However, this review of the relevant theory and evidence suggests that these claims are not as strong as they may first appear. Effectiveness is qualified by the strong likelihood of a safety valve on grounds of political risk. The case for efficiency is challenged by the fact that the administrative costs of PCT will inevitably be higher than those of an upstream scheme. The additional effects of PCT would have to be significant in order to offset these costs sufficiently to make it the more efficient option. The case for equity is stronger. However, a PCT scheme in the UK would still create groups of net losers on low incomes who could not be compensated easily, and this would have some impact on its political acceptability.

History

Publication status

  • Published

File Version

  • Published version

Journal

Climate Policy

ISSN

1469-3062

Publisher

Taylor & Francis

Issue

4

Volume

10

Page range

447-461

Department affiliated with

  • SPRU - Science Policy Research Unit Publications

Full text available

  • No

Peer reviewed?

  • Yes

Legacy Posted Date

2019-03-15

First Compliant Deposit (FCD) Date

2019-03-15

Usage metrics

    University of Sussex (Publications)

    Categories

    No categories selected

    Exports

    RefWorks
    BibTeX
    Ref. manager
    Endnote
    DataCite
    NLM
    DC