Despite much enthusiasm for direct emissions charges among climate policy experts, carbon taxes have been adopted in a relatively small number of OECD countries, and concerns over their economic and social effects have led to substantial distortions in their implementation. Despite only modest...

This paper provides an overview of current government schemes promoting corporate reporting of greenhouse gas (GHG) emissions and analyses their main building blocks. It describes the drivers and challenges for governments, companies and investors in dealing with GHG reporting and includes 4...

Emission allowances are often distributed for free in an early phase of a cap-and-trade scheme (grandfathering) to reduce adverse effects on the profitability of firms. If the grandfathering scheme is phased out over time, firms may nevertheless relocate to countries with a lower carbon price...