{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,10,30]],"date-time":"2026-10-30T13:19:09Z","timestamp":1793366349742,"version":"4.5.0"},"reference-count":13,"publisher":"National Academy of Sciences","issue":"28","license":[{"start":{"date-parts":[[2024,7,1]],"date-time":"2024-07-01T00:00:00Z","timestamp":1719792000000},"content-version":"vor","delay-in-days":0,"URL":"https:\/\/creativecommons.org\/licenses\/by\/4.0\/"}],"funder":[{"DOI":"10.13039\/501100001659","name":"Deutsche Forschungsgemeinschaft","doi-asserted-by":"publisher","award":["390683824"],"award-info":[{"award-number":["390683824"]}],"id":[{"id":"10.13039\/501100001659","id-type":"DOI","asserted-by":"publisher"}]}],"content-domain":{"domain":["www.pnas.org"],"crossmark-restriction":true},"short-container-title":["Proc. Natl. Acad. Sci. U.S.A."],"published-print":{"date-parts":[[2024,7,9]]},"abstract":"\n Mitigating greenhouse gas emissions and reducing air pollution represent two pressing and interwoven environmental challenges. While international carbon markets, such as the European Union emissions trading system (EU ETS), have demonstrated their effectiveness in curbing carbon emissions (CO\n \n \n \n \n 2<\/mml:mn>\n <\/mml:msub>\n <\/mml:math>\n <\/jats:inline-formula>\n ), their indirect impact on hazardous co-pollutants remains understudied. This study investigates how key toxic air pollutants\u2014sulfur dioxide (SO\n \n \n \n \n 2<\/mml:mn>\n <\/mml:msub>\n <\/mml:math>\n <\/jats:inline-formula>\n ), fine particulate matter (PM\n \n \n \n \n \n 2.5<\/mml:mn>\n <\/mml:mrow>\n <\/mml:msub>\n <\/mml:math>\n <\/jats:inline-formula>\n ), and nitrogen oxides (NO\n \n \n \n \n x<\/mml:mi>\n <\/mml:msub>\n <\/mml:math>\n <\/jats:inline-formula>\n )\u2014evolved after the introduction of the EU ETS with a comparative analysis of regulated and unregulated sectors. Leveraging the generalized synthetic control method, we offer an ex post analysis of how the EU ETS and concurrent emission standards may have jointly generated sizable pollution reductions in regulated sectors between 2005 and 2021. We provide an aggregate assessment that these pollution reductions could translate into large health co-benefits, potentially in the hundreds of billions of Euros, even when bounding the effect of emission standards. These order-of-magnitude estimates underscore key implications for policy appraisal and motivate further microlevel research around the health co-benefits of carbon abatement.\n <\/jats:p>","DOI":"10.1073\/pnas.2319908121","type":"journal-article","created":{"date-parts":[[2024,7,1]],"date-time":"2024-07-01T16:27:22Z","timestamp":1719851242000},"update-policy":"https:\/\/doi.org\/10.1073\/pnas.cm10313","source":"Crossref","is-referenced-by-count":24,"title":["The European Union Emissions Trading System might yield large co-benefits from pollution reduction"],"prefix":"10.1073","volume":"121","author":[{"ORCID":"https:\/\/orcid.org\/0000-0003-3342-6609","authenticated-orcid":false,"given":"Piero","family":"Basaglia","sequence":"first","affiliation":[{"name":"Department of Economics, University of Hamburg, 20146 Hamburg, Germany"},{"name":"Center for Earth System Research and Sustainability, 20146 Hamburg, Germany"},{"name":"Bordeaux School of Economics, University of Bordeaux, 33600 Pessac, France"}],"role":[{"vocabulary":"crossref","role":"author"}]},{"ORCID":"https:\/\/orcid.org\/0000-0002-5577-0315","authenticated-orcid":false,"given":"Jonas","family":"Grunau","sequence":"additional","affiliation":[{"name":"Department of Economics, University of Hamburg, 20146 Hamburg, Germany"},{"name":"Center for Earth System Research and Sustainability, 20146 Hamburg, Germany"},{"name":"Max Planck Institute for Meteorology, 20146 Hamburg, Germany"}],"role":[{"vocabulary":"crossref","role":"author"}]},{"ORCID":"https:\/\/orcid.org\/0000-0001-8981-0496","authenticated-orcid":false,"given":"Moritz A.","family":"Drupp","sequence":"additional","affiliation":[{"name":"Department of Economics, University of Hamburg, 20146 Hamburg, Germany"},{"name":"Center for Earth System Research and Sustainability, 20146 Hamburg, Germany"},{"name":"Hamburg Center for Health Economics, University of Hamburg, 20146 Hamburg, Germany"},{"name":"CESifo, 81679 Munich, Germany"},{"name":"Department of Economics, University of Gothenburg, 405 30 G\u00f6teborg, Sweden"}],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"341","published-online":{"date-parts":[[2024,7]]},"reference":[{"key":"e_1_3_3_1_2","doi-asserted-by":"publisher","DOI":"10.1016\/S0140-6736(17)32345-0"},{"key":"e_1_3_3_2_2","doi-asserted-by":"publisher","DOI":"10.1073\/pnas.1918128117"},{"key":"e_1_3_3_3_2","doi-asserted-by":"publisher","DOI":"10.1038\/s41467-018-06885-9"},{"key":"e_1_3_3_4_2","doi-asserted-by":"publisher","DOI":"10.1017\/pan.2016.2"},{"key":"e_1_3_3_5_2","doi-asserted-by":"publisher","DOI":"10.1162\/REST_a_00470"},{"key":"e_1_3_3_6_2","doi-asserted-by":"publisher","DOI":"10.1257\/pol.20170144"},{"key":"e_1_3_3_7_2","doi-asserted-by":"publisher","DOI":"10.1073\/pnas.2109912118"},{"key":"e_1_3_3_8_2","doi-asserted-by":"crossref","unstructured":"P. Basaglia S. M. Behr M. A. Drupp \u201cDe-fueling externalities: Causal effects of fuel taxation and mediating mechanisms for delivering climate and health benefits\u201d (CESifo Working Paper No. 10508 2023).","DOI":"10.2139\/ssrn.4477996"},{"key":"e_1_3_3_9_2","doi-asserted-by":"publisher","DOI":"10.3368\/wple.97.1.061219-0076R1"},{"key":"e_1_3_3_10_2","doi-asserted-by":"publisher","DOI":"10.1016\/j.enpol.2010.03.012"},{"key":"e_1_3_3_11_2","doi-asserted-by":"publisher","DOI":"10.1016\/j.jpubeco.2022.104786"},{"key":"e_1_3_3_12_2","doi-asserted-by":"publisher","DOI":"10.1146\/annurev-environ-120820-053625"},{"key":"e_1_3_3_13_2","doi-asserted-by":"crossref","unstructured":"J. Grunau P. Basaglia M. A. Drupp The European Union Emissions Trading System might yield large co-benefits from pollution reduction: Data and Code. Available at https:\/\/github.com\/ccs282\/EU_ETS_Co_Benefits.git. Deposited 23 May 2024.","DOI":"10.1073\/pnas.2319908121"}],"container-title":["Proceedings of the National Academy of Sciences"],"original-title":[],"language":"en","link":[{"URL":"https:\/\/pnas.org\/doi\/pdf\/10.1073\/pnas.2319908121","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2024,11,23]],"date-time":"2024-11-23T01:34:41Z","timestamp":1732325681000},"score":1,"resource":{"primary":{"URL":"https:\/\/pnas.org\/doi\/10.1073\/pnas.2319908121"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2024,7]]},"references-count":13,"journal-issue":{"issue":"28","published-print":{"date-parts":[[2024,7,9]]}},"alternative-id":["10.1073\/pnas.2319908121"],"URL":"https:\/\/doi.org\/10.1073\/pnas.2319908121","relation":{},"ISSN":["0027-8424","1091-6490"],"issn-type":[{"value":"0027-8424","type":"print"},{"value":"1091-6490","type":"electronic"}],"subject":[],"published":{"date-parts":[[2024,7]]},"assertion":[{"value":"2023-12-05","order":0,"name":"received","label":"Received","group":{"name":"publication_history","label":"Publication History"}},{"value":"2024-05-24","order":1,"name":"accepted","label":"Accepted","group":{"name":"publication_history","label":"Publication History"}},{"value":"2024-07-01","order":2,"name":"published","label":"Published","group":{"name":"publication_history","label":"Publication History"}}],"article-number":"e2319908121"}}