A COMPARATIVE ANALYSIS OF SUSTAINABLE PRACTICES: CALIFORNIA'S CAP-AND-TRADE PROGRAM AND GERMANY'S ‘ENERGIEWENDE’ POLICY

This study explores two strategies used to tackle climate change and promote sustainability which are California's Cap-and-Trade program and Germany's Energiewende policy. Both aim to reduce greenhouse gas emissions but use different approaches. California's Cap-and-Trade program is like a marketplace where companies can buy and sell the right to pollute within strict limits, encouraging businesses to adopt cleaner practices. On the other hand, Germany's Energiewende focuses on government-led efforts to shift away from fossil fuels and nuclear power toward renewable energy like wind and solar. The study compares these approaches, highlighting their successes and challenges. California's system is cost-effective and flexible but has been criticized for not doing enough to improve air quality in vulnerable communities. Germany's policy has driven significant renewable energy growth and job creation but has led to higher energy costs for some citizens. This study argues that there is no perfect solution to sustainability. Countries can therefore learn from each other’s successes and failures to create better policies to tackle climate change while balancing environmental, social, and economic goals. KEYWORDS: Sustainability, Climate Change, Cap-and-Trade, Energiewende, Renewable Energy

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Publication Details

Journal
EPRA International Journal of Climate and Resource Economic Review
Published
2024-12-21
DOI
https://doi.org/10.36713/epra19505
Primary Topic
Climate Change Policy and Economics
Type
article
Field-Weighted Citation Impact
0.00
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article

A COMPARATIVE ANALYSIS OF SUSTAINABLE PRACTICES: CALIFORNIA'S CAP-AND-TRADE PROGRAM AND GERMANY'S ‘ENERGIEWENDE’ POLICY

Peter K. Asante
EPRA International Journal of Climate and Resource Economic Review
Climate Change Policy and Economics
article

A COMPARATIVE ANALYSIS OF SUSTAINABLE PRACTICES: CALIFORNIA'S CAP-AND-TRADE PROGRAM AND GERMANY'S ‘ENERGIEWENDE’ POLICY

Peter K. Asante
article en

Abstract

This study explores two strategies used to tackle climate change and promote sustainability which are California's Cap-and-Trade program and Germany's Energiewende policy. Both aim to reduce greenhouse gas emissions but use different approaches. California's Cap-and-Trade program is like a marketplace where companies can buy and sell the right to pollute within strict limits, encouraging businesses to adopt cleaner practices. On the other hand, Germany's Energiewende focuses on government-led efforts to shift away from fossil fuels and nuclear power toward renewable energy like wind and solar. The study compares these approaches, highlighting their successes and challenges. California's system is cost-effective and flexible but has been criticized for not doing enough to improve air quality in vulnerable communities. Germany's policy has driven significant renewable energy growth and job creation but has led to higher energy costs for some citizens. This study argues that there is no perfect solution to sustainability. Countries can therefore learn from each other’s successes and failures to create better policies to tackle climate change while balancing environmental, social, and economic goals. KEYWORDS: Sustainability, Climate Change, Cap-and-Trade, Energiewende, Renewable Energy

EPRA International Journal of Climate and Resource Economic Review
Eastern Illinois University (US)
Openalex Percentile: Top 71%
Climate Change Policy and Economics
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