Efektywność kosztowa systemów handlu emisjami: porównanie programu SO₂ w USA i EU ETS
Cost Efficiency of Emissions Trading Systems: A Comparison of the U.S. SO₂ Program and the EU ETS

Summary/Abstract: The article addresses the problem of cost efficiency of market-based instruments used in environmental policy, with particular focus on emissions trading systems. The aim of the study is to assess the effectiveness of the cap-and-trade mechanism based on the example of the U.S. SO₂ emissions reduction program and the European Union Emissions Trading System (EU ETS). The research applies a case study approach combined with a comparative analysis, using empirical data obtained from sources such as the Environmental Protection Agency, the European Environment Agency, and the relevant literature. The paper first outlines the theoretical foundations of environmental policy instruments, then examines the functioning of the SO₂ program in the United States, followed by a characterization of the EU ETS. The results indicate that the U.S. SO₂ program achieved high-cost efficiency and market stability, whereas the EU ETS initially exhibited limited effectiveness due to allowance oversupply and price volatility. The comparison suggests that the effectiveness of emissions trading systems depends largely on their institutional design, particularly the appropriate setting of emission caps and regulatory stability.

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