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The European Union Emissions Trading System might yield large co-benefits from pollution reduction.
Basaglia, Piero; Grunau, Jonas; Drupp, Moritz A.
Affiliation
  • Basaglia P; Department of Economics, University of Hamburg, 20146 Hamburg, Germany.
  • Grunau J; Center for Earth System Research and Sustainability, 20146 Hamburg, Germany.
  • Drupp MA; Bordeaux School of Economics, University of Bordeaux, 33600 Pessac, France.
Proc Natl Acad Sci U S A ; 121(28): e2319908121, 2024 Jul 09.
Article in En | MEDLINE | ID: mdl-38950366
ABSTRACT
Mitigating greenhouse gas emissions and reducing air pollution represent two pressing and interwoven environmental challenges. While international carbon markets, such as the European Union emissions trading system (EU ETS), have demonstrated their effectiveness in curbing carbon emissions (CO[Formula see text]), their indirect impact on hazardous co-pollutants remains understudied. This study investigates how key toxic air pollutants-sulfur dioxide (SO[Formula see text]), fine particulate matter (PM[Formula see text]), and nitrogen oxides (NO[Formula see text])-evolved after the introduction of the EU ETS with a comparative analysis of regulated and unregulated sectors. Leveraging the generalized synthetic control method, we offer an ex post analysis of how the EU ETS and concurrent emission standards may have jointly generated sizable pollution reductions in regulated sectors between 2005 and 2021. We provide an aggregate assessment that these pollution reductions could translate into large health co-benefits, potentially in the hundreds of billions of Euros, even when bounding the effect of emission standards. These order-of-magnitude estimates underscore key implications for policy appraisal and motivate further microlevel research around the health co-benefits of carbon abatement.
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Full text: 1 Collection: 01-internacional Database: MEDLINE Language: En Journal: Proc Natl Acad Sci U S A Year: 2024 Type: Article Affiliation country: Germany

Full text: 1 Collection: 01-internacional Database: MEDLINE Language: En Journal: Proc Natl Acad Sci U S A Year: 2024 Type: Article Affiliation country: Germany