On Monday, Scioto Analysis released a brief on what a cap-and-trade system for carbon emissions would do for the state economy.
“Cap-and-trade is an efficient way to abate carbon emissions,” said Scioto Analysis Principal Rob Moore. “By allowing firms that can efficiently reduce emissions to sell emissions allowances and those that cannot to incur costs, a cap-and-trade system is able to promote economic efficiency and improve the environment simultaneously.”
Scioto Analysis also estimated that the auction in carbon emissions could raise $2.3-4.1 billion in annual revenue by 2030.
This analysis was conducted by Cruz Eduardo Flores Vera, MPP candidate at the University of California, Berkeley’s Goldman School of Public Policy. Writing support was provided by Rob Moore of Scioto Analysis and additional analytical support was provided by Isabel Clayter, Masashi Hamano, and Ashwin MB of the University of California, Berkeley.