The Cap and Trade System is a controversial approach to dealing with green house gas and carbon emissions. Although the EU has embraced this approach through the Kyoto Protocol, the U.S. is wavering on whether or not to adopt the trading system. A. Denny Ellerman discusses if the Cap and Trade is still the way to an effective global climate policy, or if it's reached a dead end.
About the Speakers
SPEAKER: DENNY ELLERMAN
Professor Ellerman is an internationally recognized expert on energy and environmental economics with a particular focus on climate policy, emissions trading, and interactions with energy markets. His current position is area director of the climate policy research unit and a part-time professor at the European University Institute's Robert Schuman Centre for Advanced Studies. He recently retired as a Senior Lecturer at MIT's Sloan School of Management, where he was for many years executive director of the Joint Program on the Science and Policy of Global Change, and the Center for Energy and Environmental Policy Research. He is a co-author of the leading books on the US SO2 and the EU CO2 Allowance Trading Programs, Markets for Clean Air: The US Acid Rain Program and Pricing Carbon: The European Emissions Trading Scheme. Prior to coming to MIT, Denny spent 18 years in Washington, D.C., working for the US Government (primarily the Department of Energy and its predecessors), the National Coal Association, and Charles River Associates, an economic consulting firm. In 1990, he was President of the International Association for Energy Economics.