What is it about?
Our study shows that emission trading is not only good for mitigating climate change by reducing greenhouse gas emissions. It also results in considerable health benefits due to reduced air pollution in regulated energy-intensive sectors, saving hundreds of billions of euros.
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Why is it important?
European climate protection reduces CO2, preventing global climate damage and benefiting future generations. We show that the EU Emissions Trading System also provides health benefits for European citizens by reducing air pollution. Accounting for and communicating these health co-benefits, which deliver more immediate benefits to those affected by higher carbon prices, may additionally play a pivotal role in garnering support for climate policies.
Perspectives
Our finding is also relevant for the evaluation of the distributional effects of climate policy. While carbon pricing often imposes disproportionate direct consumer costs on lower-income households, disadvantaged communities also often bear a higher burden of air pollutant exposure, making policy-driven air quality improvements a potential avenue for mitigating environmental inequities.
Piero Basaglia
Universitat Hamburg
Read the Original
This page is a summary of: The European Union Emissions Trading System might yield large co-benefits from pollution reduction, Proceedings of the National Academy of Sciences, July 2024, Proceedings of the National Academy of Sciences,
DOI: 10.1073/pnas.2319908121.
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