Record Display for the EPA National Library Catalog
RECORD NUMBER: 348 OF 599
|OLS Field Name||OLS Field Data|
|Main Title||Legal issues related to creation, banking and use of Emission Reduction Credits (ERCs)|
|Author||Tether, Ivan J.|
|CORP Author||ICF, Inc., Washington, DC.;Environmental Protection Agency, Washington, DC.|
|Report Number||2300482001 ; EPA 230-04-82-001 ; EPA-68-01-5845|
|Subjects||Pollution control industry--United States ; Air quality management--Government policy--United States ; Air quality management--Economic aspects--United States ; Air--Pollution--Law and legislation--United States|
|Additional Subjects||Air pollution ; Regulations ; Industrial plants ; Abatement ; Cost engineering ; Industrial wastes ; State government ; Emission reduction credits|
|Local Library Info||
|Collation||19 p. ; 28 cm.|
Emissions Trading, under the Clean Air Act, includes bubbles, netting, emission offsets, emission reduction banking, and is the subject of an EPA proposed Policy Statement (47 Fed. Reg. 15076, Apr. 7, 1982). These alternatives involve the creation of surplus reductions at certain stacks or vents and use of these reductions to meet requirements applicable to other emission sources. Emissions trades can provide more flexibility, and may therefore be used to reduce control costs, encourage faster compliance and free scarce capital for industrial revitalization. Where private parties have banked surplus emission reductions for future use or sale, states may determine that a portion of these reductions is required for clean air purposes. This paper provides legal analysis of the Constitutional issue of whether by 'taking' all or part of a person's banked emission reduction credits a state becomes liable to compensate that person. The paper concludes that the state would not be liable in this circumstance, particularly if the state had set out in advance, in its banking rule, the circumstances that could give rise to such a taking and the way it would be done.
"PART I: The "Taking" issue--is compensation required if a state or local government confiscates or reduces the quantity of banked ERCs?" "May 1982." "Report number: EPA 230-04-82-001."