Two conferences scheduled for May 15 and June 19, 1998 will bring together leading researchers, panelists, and participants—those on the front line of emissions trading programs as traders, regulators, public interest observers, and academics—to examine in what ways and to what extent existing emissions trading represents an improvement over, or a good complement to, traditional regulation. This examination should prove particularly timely as additional trading programs are considered for the control of other pollutants.

The trading programs to be examined at the May 15 conference are the existing voluntary emissions reduction credit programs and RECLAIM. The sulfur dioxide cap-and-trade market will be examined at the June 19 conference. The conferences are supported by the Acid Rain Division, U. S. EPA, the Federal Reserve Bank of Chicago, and have been arranged by the Workshop on Market-Based Approaches to Environmental Policy and the Energy Resources Center, both at the University of Illinois at Chicago, among others.

Participants will benefit from an up-to-the-minute analysis of the performance of these market-based approaches to environmental policy and the problems that have been encountered. Key speakers will present the results of the latest studies and experience. Panelists will provide comments based on their work. Participants will have opportunities to express their views. Details on the programs may be obtained by clicking on Web address below.

Participants will find the conferences timely in evaluating the benefits and costs of existing trading programs and in terms of preparation for the many trading designs being considered for implementation.

Details on the programs for the conferences are available on linked Web pages:

Further information and registration forms may be obtained from: