Discussion Paper - Harvard Project on Climate Agreements, Belfer Center

Lessons Learned from Three Decades of Experience with Cap-and-Trade

| November 2015

Abstract

This essay provides an overview of the major emissions trading programs of the past thirty years on which significant documentation exists, and draws a number of important lessons for future applications of this environmental policy instrument. References to a larger number of other emissions trading programs that have been implemented or proposed are included.

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For more information on this publication: Please contact Harvard Project on Climate Agreements
For Academic Citation: Schmalensee, Richard, and Robert N. Stavins. “Lessons Learned from Three Decades of Experience with Cap-and-Trade.” Discussion Paper, 2015-80, Harvard Project on Climate Agreements, Belfer Center, November 2015.

The Authors

Richard Schmalensee

Robert N. Stavins

Robert N. Stavins

  • Director, Harvard Project on Climate Agreements
  • A.J. Meyer Professor of Energy & Economic Development
  • Member of the Board, Belfer Center
  • Director, Harvard Environmental Economics Program
  • Chair, Environment and Natural Resources Faculty Group
  • Chairman, Ph.D. Programs in Public Policy and Political Economy & Government
  • Co-Chair, Kennedy School–Harvard Business School Joint Degree Programs
Expertise:
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