Researcher ORCID Identifier


Graduation Year


Date of Submission


Document Type

Open Access Senior Thesis

Degree Name

Bachelor of Arts


Environment, Economics, and Politics (EEP)

Reader 1

William Ascher

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Concerns about global climate change and its effects have been steadily growing around the world in recent years. The Paris Agreement has laid out ambitious targets for countries to cut their emissions in order to limit global warming to 1.5 degrees and to achieve net zero emissions by 2050. Carbon pricing mechanisms are an inventive instrument that can help achieve these emissions reductions by placing a price on greenhouse gas emissions, creating incentives for organizations to reduce their emissions. These mechanisms can also help enable the transfers from wealthy nations to developing nations that will be essential for ensuring a just transition to net zero. This thesis evaluates the present state and potential of the three major carbon pricing instruments: compliance carbon markets, carbon taxes, and voluntary offsets. It then presents the issues with each mechanism which need to be addressed for them to function more effectively. Finally, it outlines a manner in which these three mechanisms can be integrated to leverage each of their strengths.