***draft – Do Not Copy or Distribute*** Privatizing Climate Change Policy: Is There a Public Benefit?
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چکیده
Acknowledgements: This study would not have been possible without the help and assistance of numerous individuals and institutions, including Indiana University and the School of Public and Environmental Affairs and Indianapolis Power and Light. Abstract: The Chicago Climate Exchange (CCX) and the Carbon Disclosure Project (CDP) are two private voluntary initiatives aimed at reducing carbon emissions and improving carbon management by firms. I sample power plants from firms participating in each of these programs, and match these to plants belonging to non-participating firms, to control for differences between participating and non-participating plants. Using a difference-indifferences model to control for unobservable differences between participants and non-participants, and to control for the trajectory of emissions prior to program participation, I find that CCX participation is associated with a statistically significant decrease in carbon dioxide emissions for participating plants. The CDP is also associated with a decrease in carbon emissions, though these findings are not statistically significant. Findings also suggest a weak positive relationship between program participation and an increase in non-fuel expenditures.
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تاریخ انتشار 2010