As there is no national emissions trading scheme in the US, it is up to individual states to implement state-wide and regional compliance carbon markets. Upcoming regulatory updates to the WCI and RGGI markets, in conjunction with increased financial incentives from the IRA, serve as an opportunity for cap-and-invest systems to play a larger role in US decarbonization strategies.
Introduction Unlike the EU ETS, the US has not been successful in creating a national carbon market. Former President Barack Obama attempted to create a country-wide program but was unable to foster enough support among US states to do so. The oppositio…
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