The EU Emissions Trading System (EU ETS) is the world’s largest carbon market and has become a model for market-based approaches to reduce greenhouse gas emissions in other world regions.

The development of climate policy in the United States mirrors international developments, with efforts to initiate a coordinated approach giving way to jurisdictions separately taking actions.

To support the Renewable Energy Policy Network for the 21st Century (REN21), Resources for the Future was asked to provide a critical review of methodologies for accounting for the true costs of electric power across the available generation technologies.

It appears inevitable, absent legislative intervention, that regulation under the Clean Air Act (CAA) will move beyond mobile sources to the industrial and power facilities that emit most U.S. greenhouse gas (GHG) emissions. This report analyze the mechanisms available to the EPA for regulating such