Robert N. Stavins

This paper lays out the arguments for using cap-and-trade to address climate change and proposes a system that includes an upstream cap on CO2, a gradual downward trajectory of emissions ceilings over time, and mechanisms to reduce cost uncertainty.

The Hamilton Project hosted a forum highlighting a new strategy paper and two new discussion papers on how to best design market mechanisms to reduce greenhouse gas emissions, including proposals to expand the federal R&D program to better promote the development of new greenhouse gas-reducing technologies.