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1、Do State Pollution Rankings Affect Facility Emissions? Evidence From The U.S. Toxic Release Inventory, by Jason ScorseFor eep142 lecture presentationBased on presentation by Kyriakos Drivas and Erick Gong 1“Right to Know” ProgramsCoase TheoremAsymmetric information leads to inefficient outcomes (ext
2、ernalities) High transaction costs associated with collecting data Solution: Right to Know ProgramsGovernment mandates private firms to release environmental data Importance:lDecreasing information asymmetries can lead to a reduction in externalities 2Toxic Release Inventory (TRI)Emergency Planning
3、and Community Right to Know Act (EPCRA) (1986)lEPCRA Section 313: Firms required to disclose their chemical emissionsCoverage: Water and air emissions; 667 chemicals listedOverall 20,000 TRI facilities covered nationwide3Rank Facility City Pounds 1SHELL OIL PRODS. U.S. MARTINEZ REFY.MARTINEZ1,142,14
4、22TESORO REFINING & MARKETING CO.MARTINEZ1,064,6583CHEVRON PRODS. CO. RICHMOND REFY.RICHMOND999,3284CONOCOPHILLIPS SAN FRANCISCO REFY.RODEO415,1125C&H SUGAR CO. INC.CROCKETT302,1006CONOCOPHILLIPS CARBON PLANTRODEO157,3807DOW CHEMICAL CO.PITTSBURG76,3868USS-POSCO INDS.PITTSBURG39,8409AIRGAS DRY ICERI
5、CHMOND35,49610BOC GASESRICHMOND29,90311SILGAN CONTAINERS MFG. CORP.ANTIOCH20,23612CRITERION CATALYSTS & TECHS. L.P.PITTSBURG16,96913BP RICHMOND TERMINALRICHMOND11,89214MARBLE SHOP INC.PITTSBURG10,67115RHODIA INC.MARTINEZ9,12316CONOCOPHILLIPS RICHMOND TERMINALRICHMOND7,51317STEELSCAPERICHMOND7,50418G
6、ENERAL CHEMICAL CORP.RICHMOND6,50719SHELL CHEMICAL CO. MARTINEZ CATALYST PLANTMARTINEZ6,02420AIR PRODS. MFG. CORP. MARTINEZ WATERFRONT RDMARTINEZ5,5954Rank Facility City Pounds 1NEW UNITED MOTOR MFG. INC.FREMONT499,4592ARCH MIRROR WESTNEWARK44,9853PACIFIC GALVANIZING INC.OAKLAND23,4454ACME FIBERGLAS
7、S INC.HAYWARD14,1475U.S. PIPE & FNDY. CO. INC.UNION CITY13,9956HEXCEL CORP.LIVERMORE13,1077OWENS-BROCKWAY GLASS CONTAINER INC. PLANT #20OAKLAND12,1798ISOLA LAMINATE SYS. CORP.FREMONT10,0999BORDEN CHEMICAL INC.FREMONT8,10710OATEY CO.NEWARK7,20011AXT INC.FREMONT7,09712ENGINEERED POLYMER SOLUTIONS INC.
8、 (DBA VALSPAR COATINGS)HAYWARD4,40913CLEVELAND STEEL CONTAINER CORP.OAKLAND3,90014U.S. DOE LLNL EXPERIMENTAL TEST SITE (SITE 300)TRACY3,89915WYMAN GORDON CO.SAN LEANDRO3,33316TRIANGLE COATINGS INC.SAN LEANDRO3,28817W. R. GRACE & CO. CONN. DAREX CONTAINER PRODS.SAN LEANDRO2,32718ROHM & HAAS CO.HAYWAR
9、D2,01219GILLIG CORP.HAYWARD1,85420B & P MARBLE INC.OAKLAND1,3635 Effects of TRI dataHow does TRI lead to lower pollution?Possible Channels:lPolitical pressurelGreen consumerismlFuture liabilitylFuture expansion6ObjectiveWe focus on the “Top 10” Polluters listsObjective: Examine whether firms alter t
10、heir toxic emissions based on their state pollution rankingsWhy State Pollution Rankings?lPolicy reason: Political pressure is more intense in local levellEconometric reason: Quasi-Experiment7Methodology: Quasi-ExperimentFirst-Best: Randomly create and disclose rankings in different statesSecond-Bes
11、t: Observe an exogenous shock in state rankings and identify the change in emissions:lIn 1998 seven additional industries (big polluters) entered the TRI8An Example: CO vs. CT9An Example: CO vs. CT10Data: An OverviewFor each firm:lTotal emissionslState rankingslVarious facility-specific characterist
12、icsPublic disclosure takes place a year and a half after the end of any given reporting yearTop 10 Polluters account for 14-42% of total emissions from 1988-200111SetupModel:lemissions= 1xBaseRanking + 2 xRankChange + .emissions 0: The higher you are in rankings (bigger polluter), the more you will
13、reduce emissions (negative)l20: The more you will drop in rankings (bigger number), the less you will reduce emissions (negative) 12ExampleFirm A is ranked #2 in overall emissions. If its ranking changed from #2 to #15 it will have less incentive to decrease its emissions levels (less public scrutin
14、y), hence B1 is positive (change in emissions is less OR firm pollutes more)If its ranking change is a positive number (i.e. 15-2=13) then multiply 13*B2 to get the increase in emissions13Example10:20 :14Top 100 State Facilities15Conclusions“Top 10” Polluters List forces these firms to reduce their
15、total emissionsDecrease in state rankings reduces incentives by firms to reduce their emissionsPolicy Implications:lTRI might be a cost-effective way to reduce emissionslAt each expansion of TRI there will be firms that might increase their emissions16Future ResearchChannels that TRI are working thr
16、ough to reduce pollution17Example of Chemicals TrackedAlameda County 20021GLYCOL ETHERS182,4042XYLENE (MIXED ISOMERS)114,8793N-BUTYL ALCOHOL65,6544TOLUENE36,85451,2,4-TRIMETHYLBENZENE34,6616METHANOL33,9047AMMONIA33,2278METHYL ISOBUTYL KETONE32,9509ETHYLENE GLYCOL32,03210METHYL ETHYL KETONE31,12211STYRENE16,87112BARIUM COMPOUNDS11,24113M-XYLENE10,38114N,N-DIMETHYLFORMAMIDE7,00315LEAD5,45216ZINC COMPOUNDS5,10617ETHYLBENZENE5,00018CUMENE4,45019N-HEXANE3,96020FORMALDEHYDE3,54218
