An Emerging Market for the Environment: A Guide to Emissions Trading
Since its inclusion in the Kyoto Protocol, the prospect of an international emissions trading system has attracted wide interest among policy makers, industrialists and others. However, little basic information has been made available on the subject of emissions trading in general. The Guide adopts a step-by-step approach to emissions trading, dividing the information into the following three parts: Part I provides a simple theoretical model of an emissions trading system, used as a basis for understanding the real world design explained in the following parts. Part II covers the various types of emissions trading system designs, with an emphasis on the ways in which they achieve their environmental aims. Part III presents examples of existing systems, gives some comments on their performance to date, and considers what future systems might be like.
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AAUs achieve actual emissions air quality allowance allocation allowances traded allowances/credits Annex B Parties auction banked allowances baseline and credit cap and trade Carbon Market cent Clean Air Act Clean Development Mechanism Climate Change Climate Change Levy CO2 emissions compliance period conventional regulations cost emission reduction criteria air pollutants designed emissions trading distributed domestic emissions trading domestic policies economic Effective enforcement emissions limitation commitments emissions target emissions trading programme emissions trading system ensure ERCs example excess emissions existing sources expanding sources facilities gases Global greenhouse gas emissions impacts incentive international emissions trading Kyoto mechanisms Kyoto Protocol lead use rights leaded gasoline lower cost emission nitrogen oxides Non-attainment areas NOx emissions offset programme potential cost savings RECLAIM reduce emissions RISŲ National Laboratory RTCs scrubber sector Source A Source Source B Total sulphur dioxide Technology tonnes of CO2 total emissions trading for greenhouse UCCEE