Additional or accidental? Simulating interactions between a low-carbon fuel standard and other climate policy instruments in Canada

Aaron Hoyle, Jotham Peters, Mark Jaccard and Ekaterina Rhodes

Energy Policy, 2024, vol. 185, issue C

Abstract: Many jurisdictions are subject to climate action plans composed of multiple policy instruments. As climate policy landscapes become increasingly crowded, understanding the nature and likelihood of interactions between proposed policies and other instruments that make up a policy mix is a key element of policy design. We introduce a technology-rich computable general equilibrium model of the Canadian energy-economy, gTech, to explore the effectiveness of one such policy called the low-carbon fuel standard (LCFS) at reducing greenhouse gas emissions when implemented alongside other climate policy instruments. We find that the ability of a LCFS to reduce emissions depends on the ‘background’ policy mix it is layered on top of, in addition to its credit market design.

Keywords: Low-carbon fuel standard; Climate policy interaction; Energy systems model; Energy economy model; Canada climate policy (search for similar items in EconPapers)
Date: 2024
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:enepol:v:185:y:2024:i:c:s0301421523005049

DOI: 10.1016/j.enpol.2023.113919

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