GCG examines three salient strategies for the pricing of CO2 emissions: regulation, taxation and cap and trade. Each of these strategies faces a unique set of challenges and advantages that make it unclear which strategy is the most viable. Our goal this week is to weigh these opposing strategies against one another and identify which, if any, provides the best architecture for addressing global climate change.

For each strategy, GCG examined key advantages and challenges and considered expanded government, transparency, market distortion, inefficiencies, cost to various stakeholders, political feasibility, necessity of international cooperation, environmental impact, and legal implications. GCG also debated strategies that may have the best chance of success and best calibrate the regulation scheme.

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