Purpose
- Explores and develops market-based solutions.
Summary
Project will explore the feasibility of a carbon tariff in the U.S. after the election.
Purpose
Climate change is one of the most important challenges mankind is facing and it is therefore important to find ways to address it through regulation and harnessing the power of markets. The Center on Regulation and Markets (CRM) at the Brookings Institution proposes a project that would build on our previous workshop held in-person at Brookings on April 11 discussing how the U.S. could implement a CBAM (generously funded by the Walker foundation). The workshop was a great success and has spurred numerous follow-up conversations, and ideas and potential initiatives within the expert community that attended the workshop.
We propose a full day in-person workshop at Brookings after the 2024 elections to further discuss what a path forward would look like in the U.S. for a carbon tariff within the newly constituted Congress and Presidential Administration. We believe that this is critical work as the chances for a carbon tariff in the U.S. are higher now than ever before.
Scope
The scope is U.S. federal policy. In addition to the goals outlined above, the project will specifically focus on how a carbon tariff would be an efficient way to address the market failure caused by greenhouse gas emissions (i.e., find a remedy for impaired markets), and bring the U.S. in line with the EU on their CBAM measure.
Amount Approved$80,000.00
on 6/10/2024
(Check sent: 1/10/2025)
