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| CATEGORIES ABOUT EMISSIONS TRADING | |
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| environment | |
| environmental economics | |
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In such a plan, a central authority (usually a Government Agency ) sets a limit or ''cap'' on the amount of a pollutant that can be emitted. Companies or other groups that emit the pollutant are given ''credits'' or ''allowances'' which represent the right to emit a specific amount. The total amount of credits cannot exceed the cap, limiting total emissions to that level. Companies that pollute beyond their allowances must buy credits from those who pollute less than their allowances or face heavy penalties. This transfer is referred to as a Trade . In effect, the buyer is being fined for polluting, while the seller is being rewarded for having reduced emissions. Thus companies that can easily reduce emissions will do so and those for which it is harder will buy credits which reduces greenhouse gases at the lowest possible cost to society. | ||
| In 1997, The State Of | "http://wwwinformationdelightinfo/information/entry/Illinois" class="copylinks">Illinois adopted a trading program for Volatile Organic Compound s in most of the Chicago area, called the Emissions Reduction Market System Illinois EPA - Emissions Reduction Market System Beginning in 2000, over 100 major sources of pollution in 8 Illinois counties began trading pollution credits |
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| The | "http://wwwinformationdelightinfo/information/entry/European_Union_Emission_Trading_Scheme" class="copylinks">European Union Emission Trading Scheme (or EU ETS) is the largest multi-national, greenhouse gas emissions trading scheme in the world and was created in conjunction with the Kyoto Protocol It commenced operation in January 2005 with all 25 (now 27) member states of the European Union participating in it Climate Change: The European Union's Emissions Trading System (EU ETS) It contains the world's only mandatory carbon trading program The program caps the amount of carbon dioxide that can be emitted from large installations, such as power plants and carbon intensive factories and covers almost half of the EU's Carbon Dioxide emissionshttp://wwwwashtimescom/business/20060731-011601-7934rhtm (AP) |
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