Regional Carbon Markets (LexisNexis Global Climate Change Special Pamphlet Series)
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International Order Inquiry
Because the federal government has lagged in enacting nationwide legislation to regulate greenhouse gas emissions, a number of multi-state efforts and initiatives have been formed to fill the federal vacuum. This pamphlet focuses on these regional programs, beginning with an explanation of the nature and design of a carbon market. This is followed by a discussion of how major regional carbon markets operate, including the Regional Greenhouse Gas Initiative (RGGI), the Midwestern Greenhouse Gas Accord (MGGA), and the Western Climate Initiative (WCI). Next, discussion turns to the interaction between and among carbon market programs. Finally, the pamphlet concludes with an examination of important legal issues such as federal preemption, the Commerce Clause and state climate programs, and the implications of cross-border agreements.