ECIN Replication Package for "Spillover Benefits of Carbon Dioxide Cap and Trade: Evidence from the Toxics Release Inventory"

Reducing greenhouse gas emissions is necessary to meet climate goals, but these emissions are not the only harmful bi-products of fossil-fuel combustion. This paper shows how a regional cap-and-trade program designed to regulate CO2 emissions affects the release of federally-regulated toxins in the Toxics Release Inventory. We find that the program reduces toxic releases from coal-fired electric plants by 78%, and that harmful metal releases (e.g. lead, mercury) have fallen by 54%. There is no evidence of spillovers into non-adopting areas. This co-abatement of harmful compounds provides evidence for the unintended positive effects of the CO2 cap-and-trade policy.为实现气候目标，减少温室气体排放实属必要，但此类排放并非化石燃料燃烧产生的唯一有害副产物。本文探讨了旨在管控二氧化碳（CO₂）排放的区域总量控制与交易（cap-and-trade）计划，对《有毒物质排放清单》（Toxics Release Inventory）中联邦管制毒素释放量的影响。研究发现，该计划可使燃煤电厂的有毒物质排放量降低78%，其中铅、汞等有害金属的排放量降幅达54%。未发现该计划对未参与地区产生溢出效应的证据。这种有害化合物的协同减排效应，为二氧化碳总量控制与交易政策带来意外积极影响提供了实证支持。