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id="toc-History-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Economics" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#Economics"> <div class="vector-toc-text"> <span class="vector-toc-numb">3</span> <span>Economics</span> </div> </a> <button aria-controls="toc-Economics-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> <span class="vector-icon mw-ui-icon-wikimedia-expand"></span> <span>Toggle Economics subsection</span> </button> <ul id="toc-Economics-sublist" class="vector-toc-list"> <li id="toc-Coase_model" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Coase_model"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.1</span> <span>Coase model</span> </div> </a> <ul id="toc-Coase_model-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Equity" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Equity"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.2</span> <span>Equity</span> </div> </a> <ul id="toc-Equity-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Trading" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Trading"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.3</span> <span>Trading</span> </div> </a> <ul id="toc-Trading-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Incentives_and_allocation" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Incentives_and_allocation"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.4</span> <span>Incentives and allocation</span> </div> </a> <ul id="toc-Incentives_and_allocation-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Market_and_least-cost" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Market_and_least-cost"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.5</span> <span>Market and least-cost</span> </div> </a> <ul id="toc-Market_and_least-cost-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Measuring,_reporting,_verification_and_enforcement" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Measuring,_reporting,_verification_and_enforcement"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.6</span> <span>Measuring, reporting, verification and enforcement</span> </div> </a> <ul id="toc-Measuring,_reporting,_verification_and_enforcement-sublist" class="vector-toc-list"> <li id="toc-Pollution_markets" class="vector-toc-list-item vector-toc-level-3"> <a class="vector-toc-link" href="#Pollution_markets"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.6.1</span> <span>Pollution markets</span> </div> </a> <ul id="toc-Pollution_markets-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-International_emissions_trading" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#International_emissions_trading"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.7</span> <span>International emissions trading</span> </div> </a> <ul id="toc-International_emissions_trading-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Prices_versus_quantities,_and_the_safety_valve" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Prices_versus_quantities,_and_the_safety_valve"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.8</span> <span>Prices versus quantities, and the safety valve</span> </div> </a> <ul id="toc-Prices_versus_quantities,_and_the_safety_valve-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-Comparison_with_other_methods_of_emission_reduction" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#Comparison_with_other_methods_of_emission_reduction"> <div class="vector-toc-text"> <span class="vector-toc-numb">4</span> <span>Comparison with other methods of emission reduction</span> </div> </a> <button aria-controls="toc-Comparison_with_other_methods_of_emission_reduction-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> <span class="vector-icon mw-ui-icon-wikimedia-expand"></span> <span>Toggle Comparison with other methods of emission reduction subsection</span> </button> <ul id="toc-Comparison_with_other_methods_of_emission_reduction-sublist" class="vector-toc-list"> <li id="toc-Baseline_and_credit" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Baseline_and_credit"> <div class="vector-toc-text"> <span class="vector-toc-numb">4.1</span> <span>Baseline and credit</span> </div> </a> <ul id="toc-Baseline_and_credit-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Pollution_tax" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Pollution_tax"> <div class="vector-toc-text"> <span class="vector-toc-numb">4.2</span> <span>Pollution tax</span> </div> </a> <ul id="toc-Pollution_tax-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Command-and-control_regulation" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Command-and-control_regulation"> <div class="vector-toc-text"> <span class="vector-toc-numb">4.3</span> <span>Command-and-control regulation</span> </div> </a> <ul id="toc-Command-and-control_regulation-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-Trading_systems" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#Trading_systems"> <div class="vector-toc-text"> <span class="vector-toc-numb">5</span> <span>Trading systems</span> </div> </a> <button aria-controls="toc-Trading_systems-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> <span class="vector-icon mw-ui-icon-wikimedia-expand"></span> <span>Toggle Trading systems subsection</span> </button> <ul id="toc-Trading_systems-sublist" class="vector-toc-list"> <li id="toc-United_States" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#United_States"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.1</span> <span>United States</span> </div> </a> <ul id="toc-United_States-sublist" class="vector-toc-list"> <li id="toc-Sulfur_dioxide" class="vector-toc-list-item vector-toc-level-3"> <a class="vector-toc-link" href="#Sulfur_dioxide"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.1.1</span> <span>Sulfur dioxide</span> </div> </a> <ul id="toc-Sulfur_dioxide-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Nitrogen_oxides" class="vector-toc-list-item vector-toc-level-3"> <a class="vector-toc-link" href="#Nitrogen_oxides"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.1.2</span> <span>Nitrogen oxides</span> </div> </a> <ul id="toc-Nitrogen_oxides-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Volatile_organic_compounds" class="vector-toc-list-item vector-toc-level-3"> <a class="vector-toc-link" href="#Volatile_organic_compounds"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.1.3</span> <span>Volatile organic compounds</span> </div> </a> <ul id="toc-Volatile_organic_compounds-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-China" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#China"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.2</span> <span>China</span> </div> </a> <ul id="toc-China-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Linked_trading_systems" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Linked_trading_systems"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.3</span> <span>Linked trading systems</span> </div> </a> <ul id="toc-Linked_trading_systems-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Renewable_energy_certificates" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Renewable_energy_certificates"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.4</span> <span>Renewable energy certificates</span> </div> </a> <ul id="toc-Renewable_energy_certificates-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-Criticism" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#Criticism"> <div class="vector-toc-text"> <span class="vector-toc-numb">6</span> <span>Criticism</span> </div> </a> <button aria-controls="toc-Criticism-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> <span class="vector-icon mw-ui-icon-wikimedia-expand"></span> <span>Toggle Criticism subsection</span> </button> <ul id="toc-Criticism-sublist" class="vector-toc-list"> <li id="toc-Distributional_effects" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Distributional_effects"> <div class="vector-toc-text"> <span class="vector-toc-numb">6.1</span> <span>Distributional effects</span> </div> </a> <ul id="toc-Distributional_effects-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-Effectiveness" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#Effectiveness"> <div class="vector-toc-text"> <span class="vector-toc-numb">7</span> <span>Effectiveness</span> </div> </a> <ul id="toc-Effectiveness-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-See_also" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#See_also"> <div class="vector-toc-text"> <span class="vector-toc-numb">8</span> <span>See also</span> </div> </a> <ul id="toc-See_also-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-References" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#References"> <div class="vector-toc-text"> <span class="vector-toc-numb">9</span> <span>References</span> </div> </a> <ul id="toc-References-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-External_links" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#External_links"> <div class="vector-toc-text"> <span class="vector-toc-numb">10</span> <span>External links</span> </div> </a> <ul id="toc-External_links-sublist" class="vector-toc-list"> </ul> </li> </ul> </div> </div> </nav> </div> </div> <div class="mw-content-container"> <main id="content" class="mw-body"> <header class="mw-body-header vector-page-titlebar"> <nav aria-label="Contents" class="vector-toc-landmark"> <div id="vector-page-titlebar-toc" class="vector-dropdown vector-page-titlebar-toc vector-button-flush-left" > <input type="checkbox" id="vector-page-titlebar-toc-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-vector-page-titlebar-toc" class="vector-dropdown-checkbox " aria-label="Toggle the table of contents" > <label id="vector-page-titlebar-toc-label" for="vector-page-titlebar-toc-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--icon-only " aria-hidden="true" ><span class="vector-icon mw-ui-icon-listBullet mw-ui-icon-wikimedia-listBullet"></span> <span class="vector-dropdown-label-text">Toggle the table of contents</span> </label> <div class="vector-dropdown-content"> <div id="vector-page-titlebar-toc-unpinned-container" class="vector-unpinned-container"> </div> </div> </div> </nav> <h1 id="firstHeading" class="firstHeading mw-first-heading"><span class="mw-page-title-main">Emissions trading</span></h1> <div id="p-lang-btn" class="vector-dropdown mw-portlet mw-portlet-lang" > <input type="checkbox" id="p-lang-btn-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-p-lang-btn" class="vector-dropdown-checkbox mw-interlanguage-selector" aria-label="Go to an article in another language. Available in 36 languages" > <label id="p-lang-btn-label" for="p-lang-btn-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--action-progressive mw-portlet-lang-heading-36" aria-hidden="true" ><span class="vector-icon mw-ui-icon-language-progressive mw-ui-icon-wikimedia-language-progressive"></span> <span class="vector-dropdown-label-text">36 languages</span> </label> <div class="vector-dropdown-content"> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li class="interlanguage-link interwiki-ar mw-list-item"><a href="https://ar.wikipedia.org/wiki/%D8%AA%D8%AC%D8%A7%D8%B1%D8%A9_%D8%A7%D9%84%D8%A7%D9%86%D8%A8%D8%B9%D8%A7%D8%AB%D8%A7%D8%AA" title="تجارة الانبعاثات – Arabic" lang="ar" hreflang="ar" data-title="تجارة الانبعاثات" data-language-autonym="العربية" data-language-local-name="Arabic" class="interlanguage-link-target"><span>العربية</span></a></li><li class="interlanguage-link interwiki-ca mw-list-item"><a href="https://ca.wikipedia.org/wiki/Comer%C3%A7_de_drets_d%27emissi%C3%B3" title="Comerç de drets d'emissió – Catalan" lang="ca" hreflang="ca" data-title="Comerç de drets d'emissió" data-language-autonym="Català" data-language-local-name="Catalan" class="interlanguage-link-target"><span>Català</span></a></li><li class="interlanguage-link interwiki-cs mw-list-item"><a href="https://cs.wikipedia.org/wiki/Obchodov%C3%A1n%C3%AD_s_emisemi" title="Obchodování s emisemi – Czech" lang="cs" hreflang="cs" data-title="Obchodování s emisemi" data-language-autonym="Čeština" data-language-local-name="Czech" class="interlanguage-link-target"><span>Čeština</span></a></li><li class="interlanguage-link interwiki-de mw-list-item"><a href="https://de.wikipedia.org/wiki/Emissionsrechtehandel" title="Emissionsrechtehandel – German" lang="de" hreflang="de" data-title="Emissionsrechtehandel" data-language-autonym="Deutsch" data-language-local-name="German" class="interlanguage-link-target"><span>Deutsch</span></a></li><li class="interlanguage-link interwiki-et mw-list-item"><a href="https://et.wikipedia.org/wiki/Heitkogustega_kauplemine" title="Heitkogustega kauplemine – Estonian" lang="et" hreflang="et" data-title="Heitkogustega kauplemine" data-language-autonym="Eesti" data-language-local-name="Estonian" class="interlanguage-link-target"><span>Eesti</span></a></li><li class="interlanguage-link interwiki-es mw-list-item"><a href="https://es.wikipedia.org/wiki/Comercio_de_derechos_de_emisi%C3%B3n" title="Comercio de derechos de emisión – Spanish" lang="es" hreflang="es" data-title="Comercio de derechos de emisión" data-language-autonym="Español" data-language-local-name="Spanish" class="interlanguage-link-target"><span>Español</span></a></li><li class="interlanguage-link interwiki-fa mw-list-item"><a href="https://fa.wikipedia.org/wiki/%D8%AA%D8%AC%D8%A7%D8%B1%D8%AA_%DA%AF%D8%A7%D8%B2%D9%87%D8%A7%DB%8C_%DA%AF%D9%84%D8%AE%D8%A7%D9%86%D9%87%E2%80%8C%D8%A7%DB%8C" title="تجارت گازهای گلخانه‌ای – Persian" lang="fa" hreflang="fa" data-title="تجارت گازهای گلخانه‌ای" data-language-autonym="فارسی" data-language-local-name="Persian" class="interlanguage-link-target"><span>فارسی</span></a></li><li class="interlanguage-link interwiki-fr mw-list-item"><a href="https://fr.wikipedia.org/wiki/March%C3%A9_des_droits_%C3%A0_polluer" title="Marché des droits à polluer – French" lang="fr" hreflang="fr" data-title="Marché des droits à polluer" data-language-autonym="Français" data-language-local-name="French" class="interlanguage-link-target"><span>Français</span></a></li><li class="interlanguage-link interwiki-ko mw-list-item"><a href="https://ko.wikipedia.org/wiki/%EB%B0%B0%EC%B6%9C%EA%B6%8C_%EA%B1%B0%EB%9E%98%EC%A0%9C" title="배출권 거래제 – Korean" lang="ko" hreflang="ko" data-title="배출권 거래제" data-language-autonym="한국어" data-language-local-name="Korean" class="interlanguage-link-target"><span>한국어</span></a></li><li class="interlanguage-link interwiki-hy mw-list-item"><a href="https://hy.wikipedia.org/wiki/%D4%B1%D6%80%D5%BF%D5%A1%D5%B6%D5%A5%D5%BF%D5%B8%D6%82%D5%B4%D5%B6%D5%A5%D6%80%D5%AB_%D5%A1%D5%BC%D6%87%D5%BF%D5%B8%D6%82%D6%80" title="Արտանետումների առևտուր – Armenian" lang="hy" hreflang="hy" data-title="Արտանետումների առևտուր" data-language-autonym="Հայերեն" data-language-local-name="Armenian" class="interlanguage-link-target"><span>Հայերեն</span></a></li><li class="interlanguage-link interwiki-hi mw-list-item"><a href="https://hi.wikipedia.org/wiki/%E0%A4%89%E0%A4%A4%E0%A5%8D%E0%A4%B8%E0%A4%B0%E0%A5%8D%E0%A4%9C%E0%A4%A8_%E0%A4%B5%E0%A5%8D%E0%A4%AF%E0%A4%BE%E0%A4%AA%E0%A4%BE%E0%A4%B0" title="उत्सर्जन व्यापार – Hindi" lang="hi" hreflang="hi" data-title="उत्सर्जन व्यापार" data-language-autonym="हिन्दी" data-language-local-name="Hindi" class="interlanguage-link-target"><span>हिन्दी</span></a></li><li class="interlanguage-link interwiki-hr mw-list-item"><a href="https://hr.wikipedia.org/wiki/Trgovanje_emisijskim_jedinicama_stakleni%C4%8Dkih_plinova" title="Trgovanje emisijskim jedinicama stakleničkih plinova – Croatian" lang="hr" hreflang="hr" data-title="Trgovanje emisijskim jedinicama stakleničkih plinova" data-language-autonym="Hrvatski" data-language-local-name="Croatian" class="interlanguage-link-target"><span>Hrvatski</span></a></li><li class="interlanguage-link interwiki-id mw-list-item"><a href="https://id.wikipedia.org/wiki/Perdagangan_emisi" title="Perdagangan emisi – Indonesian" lang="id" hreflang="id" data-title="Perdagangan emisi" data-language-autonym="Bahasa Indonesia" data-language-local-name="Indonesian" class="interlanguage-link-target"><span>Bahasa Indonesia</span></a></li><li class="interlanguage-link interwiki-is mw-list-item"><a href="https://is.wikipedia.org/wiki/Losunarheimild" title="Losunarheimild – Icelandic" lang="is" hreflang="is" data-title="Losunarheimild" data-language-autonym="Íslenska" data-language-local-name="Icelandic" class="interlanguage-link-target"><span>Íslenska</span></a></li><li class="interlanguage-link interwiki-it mw-list-item"><a href="https://it.wikipedia.org/wiki/Mercato_delle_emissioni" title="Mercato delle emissioni – Italian" lang="it" hreflang="it" data-title="Mercato delle emissioni" data-language-autonym="Italiano" data-language-local-name="Italian" class="interlanguage-link-target"><span>Italiano</span></a></li><li class="interlanguage-link interwiki-hu mw-list-item"><a href="https://hu.wikipedia.org/wiki/Kibocs%C3%A1t%C3%A1skereskedelem" title="Kibocsátáskereskedelem – Hungarian" lang="hu" hreflang="hu" data-title="Kibocsátáskereskedelem" data-language-autonym="Magyar" data-language-local-name="Hungarian" class="interlanguage-link-target"><span>Magyar</span></a></li><li class="interlanguage-link interwiki-mk mw-list-item"><a href="https://mk.wikipedia.org/wiki/%D0%A2%D1%80%D0%B3%D0%BE%D0%B2%D0%B8%D1%98%D0%B0_%D1%81%D0%BE_%D0%B4%D0%BE%D0%B7%D0%B2%D0%BE%D0%BB%D0%B8_%D0%B7%D0%B0_%D0%B5%D0%BC%D0%B8%D1%81%D0%B8%D0%B8" title="Трговија со дозволи за емисии – Macedonian" lang="mk" hreflang="mk" data-title="Трговија со дозволи за емисии" data-language-autonym="Македонски" data-language-local-name="Macedonian" class="interlanguage-link-target"><span>Македонски</span></a></li><li class="interlanguage-link interwiki-nl mw-list-item"><a href="https://nl.wikipedia.org/wiki/Emissiehandel" title="Emissiehandel – Dutch" lang="nl" hreflang="nl" data-title="Emissiehandel" data-language-autonym="Nederlands" data-language-local-name="Dutch" class="interlanguage-link-target"><span>Nederlands</span></a></li><li class="interlanguage-link interwiki-ne mw-list-item"><a href="https://ne.wikipedia.org/wiki/%E0%A4%95%E0%A4%BE%E0%A4%B0%E0%A5%8D%E0%A4%AC%E0%A4%A8_%E0%A4%B5%E0%A5%8D%E0%A4%AF%E0%A4%BE%E0%A4%AA%E0%A4%BE%E0%A4%B0" title="कार्बन व्यापार – Nepali" lang="ne" hreflang="ne" data-title="कार्बन व्यापार" data-language-autonym="नेपाली" data-language-local-name="Nepali" class="interlanguage-link-target"><span>नेपाली</span></a></li><li class="interlanguage-link interwiki-ja mw-list-item"><a href="https://ja.wikipedia.org/wiki/%E6%8E%92%E5%87%BA%E6%A8%A9%E5%8F%96%E5%BC%95" title="排出権取引 – Japanese" lang="ja" hreflang="ja" data-title="排出権取引" data-language-autonym="日本語" data-language-local-name="Japanese" class="interlanguage-link-target"><span>日本語</span></a></li><li class="interlanguage-link interwiki-no mw-list-item"><a href="https://no.wikipedia.org/wiki/Kvotehandel" title="Kvotehandel – Norwegian Bokmål" lang="nb" hreflang="nb" data-title="Kvotehandel" data-language-autonym="Norsk bokmål" data-language-local-name="Norwegian Bokmål" class="interlanguage-link-target"><span>Norsk bokmål</span></a></li><li class="interlanguage-link interwiki-ps mw-list-item"><a href="https://ps.wikipedia.org/wiki/%D8%AF_%DA%AB%D9%84%D8%AE%D8%A7%D9%86%D9%87_%D9%8A%D9%8A_%DA%AB%D8%A7%D8%B2%D9%88%D9%86%D9%88_%D8%B3%D9%88%D8%AF%D8%A7%DA%AB%D8%B1%D9%8A" title="د ګلخانه يي ګازونو سوداګري – Pashto" lang="ps" hreflang="ps" data-title="د ګلخانه يي ګازونو سوداګري" data-language-autonym="پښتو" data-language-local-name="Pashto" class="interlanguage-link-target"><span>پښتو</span></a></li><li class="interlanguage-link interwiki-pl mw-list-item"><a href="https://pl.wikipedia.org/wiki/Handel_emisjami_zanieczyszcze%C5%84" title="Handel emisjami zanieczyszczeń – Polish" lang="pl" hreflang="pl" data-title="Handel emisjami zanieczyszczeń" data-language-autonym="Polski" data-language-local-name="Polish" class="interlanguage-link-target"><span>Polski</span></a></li><li class="interlanguage-link interwiki-pt mw-list-item"><a href="https://pt.wikipedia.org/wiki/Com%C3%A9rcio_internacional_de_emiss%C3%B5es" title="Comércio internacional de emissões – Portuguese" lang="pt" hreflang="pt" data-title="Comércio internacional de emissões" data-language-autonym="Português" data-language-local-name="Portuguese" class="interlanguage-link-target"><span>Português</span></a></li><li class="interlanguage-link interwiki-ru mw-list-item"><a href="https://ru.wikipedia.org/wiki/%D0%A2%D0%BE%D1%80%D0%B3%D0%BE%D0%B2%D0%BB%D1%8F_%D1%8D%D0%BC%D0%B8%D1%81%D1%81%D0%B8%D0%BE%D0%BD%D0%BD%D1%8B%D0%BC%D0%B8_%D0%BA%D0%B2%D0%BE%D1%82%D0%B0%D0%BC%D0%B8" title="Торговля эмиссионными квотами – Russian" lang="ru" hreflang="ru" data-title="Торговля эмиссионными квотами" data-language-autonym="Русский" data-language-local-name="Russian" class="interlanguage-link-target"><span>Русский</span></a></li><li class="interlanguage-link interwiki-si mw-list-item"><a href="https://si.wikipedia.org/wiki/%E0%B7%80%E0%B7%92%E0%B6%B8%E0%B7%9D%E0%B6%A0%E0%B7%92%E0%B6%AD%E0%B6%BA%E0%B6%B1%E0%B7%8A_%E0%B7%80%E0%B7%99%E0%B7%85%E0%B6%B3%E0%B7%8F%E0%B6%B8" title="විමෝචිතයන් වෙළඳාම – Sinhala" lang="si" hreflang="si" data-title="විමෝචිතයන් වෙළඳාම" data-language-autonym="සිංහල" data-language-local-name="Sinhala" class="interlanguage-link-target"><span>සිංහල</span></a></li><li class="interlanguage-link interwiki-sk mw-list-item"><a href="https://sk.wikipedia.org/wiki/Obchodovanie_s_emisiami" title="Obchodovanie s emisiami – Slovak" lang="sk" hreflang="sk" data-title="Obchodovanie s emisiami" data-language-autonym="Slovenčina" data-language-local-name="Slovak" class="interlanguage-link-target"><span>Slovenčina</span></a></li><li class="interlanguage-link interwiki-sl mw-list-item"><a href="https://sl.wikipedia.org/wiki/Trgovanje_z_emisijami" title="Trgovanje z emisijami – Slovenian" lang="sl" hreflang="sl" data-title="Trgovanje z emisijami" data-language-autonym="Slovenščina" data-language-local-name="Slovenian" class="interlanguage-link-target"><span>Slovenščina</span></a></li><li class="interlanguage-link interwiki-sr mw-list-item"><a href="https://sr.wikipedia.org/wiki/%D0%A2%D1%80%D0%B3%D0%BE%D0%B2%D0%B8%D0%BD%D0%B0_%D0%B4%D0%BE%D0%B7%D0%B2%D0%BE%D0%BB%D0%B0%D0%BC%D0%B0_%D0%B7%D0%B0_%D0%B5%D0%BC%D0%B8%D1%81%D0%B8%D1%98%D0%B5" title="Трговина дозволама за емисије – Serbian" lang="sr" hreflang="sr" data-title="Трговина дозволама за емисије" data-language-autonym="Српски / srpski" data-language-local-name="Serbian" class="interlanguage-link-target"><span>Српски / srpski</span></a></li><li class="interlanguage-link interwiki-fi mw-list-item"><a href="https://fi.wikipedia.org/wiki/P%C3%A4%C3%A4st%C3%B6kauppa" title="Päästökauppa – Finnish" lang="fi" hreflang="fi" data-title="Päästökauppa" data-language-autonym="Suomi" data-language-local-name="Finnish" class="interlanguage-link-target"><span>Suomi</span></a></li><li class="interlanguage-link interwiki-sv mw-list-item"><a href="https://sv.wikipedia.org/wiki/Utsl%C3%A4ppshandel" title="Utsläppshandel – Swedish" lang="sv" hreflang="sv" data-title="Utsläppshandel" data-language-autonym="Svenska" data-language-local-name="Swedish" class="interlanguage-link-target"><span>Svenska</span></a></li><li class="interlanguage-link interwiki-ta mw-list-item"><a href="https://ta.wikipedia.org/wiki/%E0%AE%AE%E0%AE%BE%E0%AE%9A%E0%AF%81_%E0%AE%B5%E0%AF%86%E0%AE%B3%E0%AE%BF%E0%AE%AA%E0%AF%8D%E0%AE%AA%E0%AE%BE%E0%AE%9F%E0%AF%81_%E0%AE%A4%E0%AE%9F%E0%AF%81%E0%AE%AA%E0%AF%8D%E0%AE%AA%E0%AF%81_%E0%AE%B5%E0%AE%A3%E0%AE%BF%E0%AE%95%E0%AE%AE%E0%AF%8D" title="மாசு வெளிப்பாடு தடுப்பு வணிகம் – Tamil" lang="ta" hreflang="ta" data-title="மாசு வெளிப்பாடு தடுப்பு வணிகம்" data-language-autonym="தமிழ்" data-language-local-name="Tamil" class="interlanguage-link-target"><span>தமிழ்</span></a></li><li class="interlanguage-link interwiki-th mw-list-item"><a href="https://th.wikipedia.org/wiki/%E0%B8%81%E0%B8%B2%E0%B8%A3%E0%B8%84%E0%B9%89%E0%B8%B2%E0%B8%82%E0%B8%B2%E0%B8%A2%E0%B9%81%E0%B8%A5%E0%B8%81%E0%B9%80%E0%B8%9B%E0%B8%A5%E0%B8%B5%E0%B9%88%E0%B8%A2%E0%B8%99%E0%B8%81%E0%B9%8A%E0%B8%B2%E0%B8%8B%E0%B9%80%E0%B8%A3%E0%B8%B7%E0%B8%AD%E0%B8%99%E0%B8%81%E0%B8%A3%E0%B8%B0%E0%B8%88%E0%B8%81" title="การค้าขายแลกเปลี่ยนก๊าซเรือนกระจก – Thai" lang="th" hreflang="th" data-title="การค้าขายแลกเปลี่ยนก๊าซเรือนกระจก" data-language-autonym="ไทย" data-language-local-name="Thai" class="interlanguage-link-target"><span>ไทย</span></a></li><li class="interlanguage-link interwiki-uk mw-list-item"><a href="https://uk.wikipedia.org/wiki/%D0%A2%D0%BE%D1%80%D0%B3%D1%96%D0%B2%D0%BB%D1%8F_%D0%B2%D0%B8%D0%BA%D0%B8%D0%B4%D0%B0%D0%BC%D0%B8" title="Торгівля викидами – Ukrainian" lang="uk" hreflang="uk" data-title="Торгівля викидами" data-language-autonym="Українська" data-language-local-name="Ukrainian" 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dir="ltr"><div class="shortdescription nomobile noexcerpt noprint searchaux" style="display:none">Market-based approach used to control pollution</div> <style data-mw-deduplicate="TemplateStyles:r1236090951">.mw-parser-output .hatnote{font-style:italic}.mw-parser-output div.hatnote{padding-left:1.6em;margin-bottom:0.5em}.mw-parser-output .hatnote i{font-style:normal}.mw-parser-output .hatnote+link+.hatnote{margin-top:-0.5em}@media print{body.ns-0 .mw-parser-output .hatnote{display:none!important}}</style><div role="note" class="hatnote navigation-not-searchable">This page is about emissions trading in general. For climate related concepts see <a href="/wiki/Carbon_price" title="Carbon price">Carbon price</a> and <a href="/wiki/Carbon_emission_trading" title="Carbon emission trading">Carbon emission trading</a>.</div> <figure typeof="mw:File/Thumb"><a href="/wiki/File:Coal_power_plant_Datteln_2_Crop1.png" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/d/d6/Coal_power_plant_Datteln_2_Crop1.png/200px-Coal_power_plant_Datteln_2_Crop1.png" decoding="async" width="200" height="185" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/d/d6/Coal_power_plant_Datteln_2_Crop1.png/300px-Coal_power_plant_Datteln_2_Crop1.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/d/d6/Coal_power_plant_Datteln_2_Crop1.png/400px-Coal_power_plant_Datteln_2_Crop1.png 2x" data-file-width="2325" data-file-height="2145" /></a><figcaption>A coal power plant in Germany. Due to emissions trading, <a href="/wiki/Coal" title="Coal">coal</a> may become a less competitive fuel than other options.</figcaption></figure> <p><b>Emissions trading</b> is a market-oriented approach to controlling <a href="/wiki/Pollution" title="Pollution">pollution</a> by providing <a href="/wiki/Economics" title="Economics">economic</a> <a href="/wiki/Incentive" title="Incentive">incentives</a> for reducing the emissions of <a href="/wiki/Pollutant" title="Pollutant">pollutants</a>.<sup id="cite_ref-stavins01_1-0" class="reference"><a href="#cite_note-stavins01-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> The concept is also known as <b>cap and trade</b> (CAT) or <b><a href="/wiki/Emissions_trading_scheme" class="mw-redirect" title="Emissions trading scheme">emissions trading scheme</a></b> (ETS). One prominent example is <a href="/wiki/Carbon_emission_trading" title="Carbon emission trading">carbon emission trading</a> for CO<sub style="font-size: 80%;vertical-align: -0.35em">2</sub> and other <a href="/wiki/Greenhouse_gas" title="Greenhouse gas">greenhouse gases</a> which is a tool for <a href="/wiki/Climate_change_mitigation" title="Climate change mitigation">climate change mitigation</a>. Other schemes include <a href="/wiki/Sulfur_dioxide" title="Sulfur dioxide">sulfur dioxide</a> and other pollutants.<sup id="cite_ref-:3_2-0" class="reference"><a href="#cite_note-:3-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup> </p><p>In an emissions trading scheme, a central authority or <a href="/wiki/Government_agency" title="Government agency">governmental</a> body allocates or sells a limited number (a "cap") of permits that allow a discharge of a specific quantity of a specific pollutant over a set time period.<sup id="cite_ref-glossary_3-0" class="reference"><a href="#cite_note-glossary-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup> Polluters are required to hold permits in amount equal to their emissions. Polluters that want to increase their emissions must buy permits from others willing to sell them.<sup id="cite_ref-stavins01_1-1" class="reference"><a href="#cite_note-stavins01-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-4" class="reference"><a href="#cite_note-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-5" class="reference"><a href="#cite_note-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-6" class="reference"><a href="#cite_note-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-EM_1_7-0" class="reference"><a href="#cite_note-EM_1-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup> </p><p>Emissions trading is a type of flexible environmental regulation<sup id="cite_ref-:1_8-0" class="reference"><a href="#cite_note-:1-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup> that allows organizations and markets to decide how best to meet policy targets. This is in contrast to <a href="/wiki/Command_and_control_regulation" title="Command and control regulation">command-and-control</a> environmental regulations such as <a href="/wiki/Best_available_technology" title="Best available technology">best available technology</a> (BAT) standards and government <a href="/wiki/Subsidy" title="Subsidy">subsidies</a>. </p> <meta property="mw:PageProp/toc" /> <div class="mw-heading mw-heading2"><h2 id="Introduction">Introduction</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Emissions_trading&action=edit&section=1" title="Edit section: Introduction"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1129693374">.mw-parser-output .hlist dl,.mw-parser-output .hlist ol,.mw-parser-output .hlist ul{margin:0;padding:0}.mw-parser-output .hlist dd,.mw-parser-output .hlist dt,.mw-parser-output .hlist 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a{color:var(--color-progressive)!important}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .sidebar:not(.notheme) .sidebar-list-title,html.skin-theme-clientpref-os .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle{background:transparent!important}html.skin-theme-clientpref-os .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle a{color:var(--color-progressive)!important}}@media print{body.ns-0 .mw-parser-output .sidebar{display:none!important}}</style><table class="sidebar sidebar-collapse nomobile nowraplinks hlist"><tbody><tr><td class="sidebar-pretitle">Part of <a href="/wiki/Category:Environmental_economics" title="Category:Environmental economics">a series</a> about</td></tr><tr><th class="sidebar-title-with-pretitle"><a href="/wiki/Environmental_economics" title="Environmental economics">Environmental economics</a></th></tr><tr><td class="sidebar-image"><span typeof="mw:File"><a href="/wiki/File:Cash_template.svg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/1/19/Cash_template.svg/90px-Cash_template.svg.png" decoding="async" width="90" height="60" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/1/19/Cash_template.svg/135px-Cash_template.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/1/19/Cash_template.svg/180px-Cash_template.svg.png 2x" data-file-width="48" data-file-height="32" /></a></span></td></tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="color: var(--color-base)">Carbon price</div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Carbon_credit" class="mw-redirect" title="Carbon credit">Carbon credit</a></li> <li><a href="/wiki/Carbon_emission_trading" title="Carbon emission trading">Carbon emission trading</a></li> <li><a href="/wiki/Carbon_fee_and_dividend" title="Carbon fee and dividend">Carbon fee and dividend</a></li> <li><a href="/wiki/Carbon_finance" class="mw-redirect" title="Carbon finance">Carbon finance</a></li> <li><a href="/wiki/Carbon_offset" class="mw-redirect" title="Carbon offset">Carbon offset</a></li> <li><a href="/wiki/Carbon_tax" title="Carbon tax">Carbon tax</a></li> <li><a class="mw-selflink selflink">Emissions trading</a></li> <li><a href="/wiki/Environmental_tax" title="Environmental tax">Environmental tax</a></li> <li><a href="/wiki/Personal_carbon_trading" title="Personal carbon trading">Personal carbon trading</a></li> <li><a href="/wiki/Pigovian_tax" class="mw-redirect" title="Pigovian tax">Pigovian tax</a></li> <li><a href="/wiki/Social_cost_of_carbon" title="Social cost of carbon">Social cost of carbon</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="color: var(--color-base)">Climate change</div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Carbon_footprint" title="Carbon footprint">Carbon footprint</a></li> <li><a href="/wiki/Climate_change_mitigation" title="Climate change mitigation">Climate change mitigation</a></li> <li><a href="/wiki/Food_miles" title="Food miles">Food miles</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="color: var(--color-base)">Concepts</div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Bright_green_environmentalism" title="Bright green environmentalism">Bright green environmentalism</a></li> <li><a href="/wiki/Circular_economy" title="Circular economy">Circular economy</a></li> <li><a href="/wiki/Climate_finance" title="Climate finance">Climate finance</a></li> <li><a href="/wiki/Corporate_sustainability" title="Corporate sustainability">Corporate sustainability</a></li> <li><a href="/wiki/Degrowth" title="Degrowth">Degrowth</a></li> <li><a href="/wiki/Disinvestment" title="Disinvestment">Disinvestment</a></li> <li><a href="/wiki/Eco-capitalism" title="Eco-capitalism">Eco-capitalism</a></li> <li><a href="/wiki/Eco_commerce" title="Eco commerce">Eco commerce</a></li> <li><a href="/wiki/Eco-innovation" title="Eco-innovation">Eco-innovation</a></li> <li><a href="/wiki/Eco-investing" title="Eco-investing">Eco-investing</a></li> <li><a href="/wiki/Ecological_economics" title="Ecological economics">Ecological economics</a></li> <li><a href="/wiki/Ecological_footprint" title="Ecological footprint">Ecological footprint</a></li> <li><a href="/wiki/Ecological_modernization" title="Ecological modernization">Ecological modernization</a></li> <li><a href="/wiki/Ecotechnology" title="Ecotechnology">Ecotechnology</a></li> <li><a href="/wiki/Efficient_energy_use" title="Efficient energy use">Efficient energy use</a></li> <li><a href="/wiki/Energy_conservation" title="Energy conservation">Energy conservation</a></li> <li><a href="/wiki/Natural_environment" title="Natural environment">Environmental</a> <ul><li><a href="/wiki/Environmental_accounting" title="Environmental accounting">accounting</a></li> <li><a href="/wiki/Environmental_design" title="Environmental design">design</a></li> <li><a href="/wiki/Environmental_enterprise" title="Environmental enterprise">enterprise</a></li> <li><a href="/wiki/Environmental_finance" title="Environmental finance">finance</a></li> <li><a href="/wiki/Environmental_full-cost_accounting" title="Environmental full-cost accounting">full-cost accounting</a></li> <li><a href="/wiki/Environmental_impact_design" title="Environmental impact design">impact design</a></li> <li><a href="/wiki/Environmental_planning" title="Environmental planning">planning</a></li></ul></li> <li><a href="/wiki/Ethical_banking" title="Ethical banking">Ethical banking</a></li> <li><a href="/wiki/Fiscal_environmentalism" title="Fiscal environmentalism">Fiscal environmentalism</a></li> <li><a href="/wiki/Environmental_friendly" class="mw-redirect" title="Environmental friendly">Green</a> <ul><li><a href="/wiki/Green_accounting" title="Green accounting">accounting</a></li> <li><a href="/wiki/Green_building" title="Green building">building</a></li> <li><a href="/wiki/Green_development" title="Green development">development</a></li> <li><a href="/wiki/Green_economy" title="Green economy">economy</a></li> <li><a href="/wiki/Green_growth" title="Green growth">growth</a></li> <li><a href="/wiki/Green_job" title="Green job">job</a></li> <li><a href="/wiki/Green_marketing" title="Green marketing">marketing</a></li> <li><a href="/wiki/Green_paradox" class="mw-redirect" title="Green paradox">paradox</a></li> <li><a href="/wiki/Green_recovery" title="Green recovery">recovery</a></li> <li><a href="/wiki/Green_trading" title="Green trading">trading</a></li> <li><a href="/wiki/Green_vehicle" title="Green vehicle">vehicle</a></li></ul></li> <li><a href="/wiki/High-performance_buildings" title="High-performance buildings">High-performance buildings</a></li> <li><a href="/wiki/Impact_investing" title="Impact investing">Impact investing</a></li> <li><a href="/wiki/Marginal_abatement_cost" title="Marginal abatement cost">Marginal abatement cost</a></li> <li><a href="/wiki/Natural_resource_economics" title="Natural resource economics">Natural resource economics</a></li> <li><a href="/wiki/Pollution_haven_hypothesis" title="Pollution haven hypothesis">Pollution haven hypothesis</a></li> <li><a href="/wiki/Social_accounting" title="Social accounting">Social accounting</a></li> <li><a href="/wiki/Socially_responsible_business" title="Socially responsible business">Socially responsible business</a></li> <li><a href="/wiki/Social_return_on_investment" title="Social return on investment">Social return on investment</a></li> <li><a href="/wiki/Sustainability" title="Sustainability">Sustainability</a> <ul><li><a href="/wiki/Sustainability_accounting" title="Sustainability accounting">accounting</a></li> <li><a href="/wiki/Sustainability_organization" title="Sustainability organization">organization</a></li> <li><a href="/wiki/Sustainability_reporting" title="Sustainability reporting">reporting</a></li></ul></li> <li><a href="/wiki/Sustainability" title="Sustainability">Sustainable</a> <ul><li><a href="/wiki/Sustainable_advertising" class="mw-redirect" title="Sustainable advertising">advertising</a></li> <li><a href="/wiki/Sustainable_agriculture" title="Sustainable agriculture">agriculture</a></li> <li><a href="/wiki/Sustainable_capitalism" title="Sustainable capitalism">capitalism</a></li> <li><a href="/wiki/Sustainable_consumer_behaviour" title="Sustainable consumer behaviour">consumer behaviour</a></li> <li><a href="/wiki/Sustainable_consumption" title="Sustainable consumption">consumption</a></li> <li><a href="/wiki/Sustainable_design" title="Sustainable design">design</a></li> <li><a href="/wiki/Sustainable_design_standards" title="Sustainable design standards">design standards</a></li> <li><a href="/wiki/Sustainable_development" title="Sustainable development">development</a></li> <li><a href="/wiki/Sustainable_development_goals" class="mw-redirect" title="Sustainable development goals">development goals</a></li> <li><a href="/wiki/Sustainable_energy" title="Sustainable energy">energy</a></li> <li><a href="/wiki/Sustainable_finance" title="Sustainable finance">finance</a></li> <li><a href="/wiki/Sustainable_food_systems" class="mw-redirect" title="Sustainable food systems">food systems</a></li> <li><a href="/wiki/Sustainable_industries" title="Sustainable industries">industries</a></li> <li><a href="/wiki/Sustainable_livelihood" title="Sustainable livelihood">livelihood</a></li> <li><a href="/wiki/Sustainable_management" title="Sustainable management">management</a></li> <li><a href="/wiki/Sustainable_market" class="mw-redirect" title="Sustainable market">market</a></li> <li><a href="/wiki/Sustainable_procurement" title="Sustainable procurement">procurement</a></li> <li><a href="/wiki/Sustainable_refurbishment" title="Sustainable refurbishment">refurbishment</a></li> <li><a href="/wiki/Sustainable_sourcing" title="Sustainable sourcing">sourcing</a></li> <li><a href="/wiki/Sustainable_tourism" title="Sustainable tourism">tourism</a></li> <li><a href="/wiki/Sustainable_transport" title="Sustainable transport">transport</a></li></ul></li> <li><a href="/wiki/Thermoeconomics" title="Thermoeconomics">Thermoeconomics</a></li> <li><a href="/wiki/Used_good" title="Used good">Used good</a></li> <li><a href="/wiki/Value_of_Earth" title="Value of Earth">Value of Earth</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="color: var(--color-base)">Energy transition</div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/2000-watt_society" title="2000-watt society">2000-watt society</a></li> <li><a href="/wiki/Alternative_fuel" title="Alternative fuel">Alternative fuel</a>,</li> <li><a href="/wiki/Carbon_neutrality" class="mw-redirect" title="Carbon neutrality">Carbon neutrality</a></li> <li><a href="/wiki/Carbon-neutral_fuel" title="Carbon-neutral fuel">Carbon-neutral fuel</a></li> <li><a href="/wiki/Environmental_technology" title="Environmental technology">Environmental technology</a></li> <li><a href="/wiki/Feed-in_tariff" title="Feed-in tariff">Feed-in tariff</a></li> <li><a href="/wiki/Fossil_fuel_divestment" title="Fossil fuel divestment">Fossil fuel divestment</a></li> <li><a href="/wiki/Fossil_fuel_phase-out" title="Fossil fuel phase-out">Fossil fuel phase-out</a></li> <li><a href="/wiki/Low-carbon_economy" title="Low-carbon economy">Low-carbon economy</a></li> <li><a href="/wiki/Net_metering" title="Net metering">Net metering</a></li> <li><a href="/wiki/Renewable_energy_commercialization" title="Renewable energy commercialization">Renewable energy commercialization</a></li> <li><a href="/wiki/Sustainable_energy" title="Sustainable energy">Sustainable energy</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="color: var(--color-base)">Policies</div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Carbon_leakage" title="Carbon leakage">Carbon leakage</a></li> <li><a href="/wiki/Environmental_pricing_reform" title="Environmental pricing reform">Environmental pricing reform</a></li> <li><a href="/wiki/Environmental_tariff" class="mw-redirect" title="Environmental tariff">Environmental tariff</a></li> <li><a href="/wiki/Free_public_transport" title="Free public transport">Free public transport</a></li> <li><a href="/wiki/Green_industrial_policy" title="Green industrial policy">Green industrial policy</a></li> <li><a href="/wiki/Green_New_Deal" title="Green New Deal">Green New Deal</a></li> <li><a href="/wiki/Green_politics" title="Green politics">Green politics</a></li> <li><a href="/wiki/Rail_subsidies" title="Rail subsidies">Rail subsidies</a></li></ul></div></div></td> </tr><tr><td class="sidebar-navbar"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><style data-mw-deduplicate="TemplateStyles:r1239400231">.mw-parser-output .navbar{display:inline;font-size:88%;font-weight:normal}.mw-parser-output .navbar-collapse{float:left;text-align:left}.mw-parser-output .navbar-boxtext{word-spacing:0}.mw-parser-output .navbar ul{display:inline-block;white-space:nowrap;line-height:inherit}.mw-parser-output .navbar-brackets::before{margin-right:-0.125em;content:"[ "}.mw-parser-output .navbar-brackets::after{margin-left:-0.125em;content:" ]"}.mw-parser-output .navbar li{word-spacing:-0.125em}.mw-parser-output .navbar a>span,.mw-parser-output .navbar a>abbr{text-decoration:inherit}.mw-parser-output .navbar-mini abbr{font-variant:small-caps;border-bottom:none;text-decoration:none;cursor:inherit}.mw-parser-output .navbar-ct-full{font-size:114%;margin:0 7em}.mw-parser-output .navbar-ct-mini{font-size:114%;margin:0 4em}html.skin-theme-clientpref-night .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}@media(prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}}@media print{.mw-parser-output .navbar{display:none!important}}</style><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Green_economics_sidebar" title="Template:Green economics sidebar"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Green_economics_sidebar" title="Template talk:Green economics sidebar"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Green_economics_sidebar" title="Special:EditPage/Template:Green economics sidebar"><abbr title="Edit this template">e</abbr></a></li></ul></div></td></tr></tbody></table> <p><a href="/wiki/Pollution" title="Pollution">Pollution</a> is a prime example of a market externality. An <a href="/wiki/Externality" title="Externality">externality</a> is an effect of some activity on an entity (such as a person) that is not party to a market transaction related to that activity. Emissions trading is a market-based approach to address pollution. The overall goal of an emissions trading plan is to minimize the cost of meeting a set <a href="/wiki/Emissions_target" class="mw-redirect" title="Emissions target">emissions target</a>.<sup id="cite_ref-cap101_9-0" class="reference"><a href="#cite_note-cap101-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup> In an emissions trading system, the government sets an overall limit on emissions, and defines permits (also called allowances), or limited authorizations to emit, up to the level of the overall limit. The government may sell the permits, but in many existing schemes, it gives permits to participants (regulated polluters) equal to each participant's baseline emissions. The baseline is determined by reference to the participant's historical emissions. To demonstrate compliance, a participant must hold permits at least equal to the quantity of pollution it actually emitted during the time period. If every participant complies, the total pollution emitted will be at most equal to the sum of individual limits.<sup id="cite_ref-boswall_10-0" class="reference"><a href="#cite_note-boswall-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup> Because permits can be bought and sold, a participant can choose either to use its permits exactly (by reducing its own emissions); or to emit less than its permits, and perhaps sell the excess permits; or to emit more than its permits, and buy permits from other participants. In effect, the buyer pays a charge for polluting, while the seller gains a reward for having reduced emissions. </p><p>Emissions Trading results in the incorporation of economic costs into the costs of production which incentivizes corporations to consider investment returns and capital expenditure decisions with a model that includes the price of carbon and <a href="/wiki/Greenhouse_gases" class="mw-redirect" title="Greenhouse gases">greenhouse gases</a> (GHG). </p><p>In many schemes, organizations which do not pollute (and therefore have no obligations) may also trade permits and <a href="/wiki/Financial_derivative" class="mw-redirect" title="Financial derivative">financial derivatives</a> of permits.<sup id="cite_ref-parlinfo.aph.gov.au_11-0" class="reference"><a href="#cite_note-parlinfo.aph.gov.au-11"><span class="cite-bracket">[</span>11<span class="cite-bracket">]</span></a></sup> In some schemes, participants can bank allowances to use in future periods.<sup id="cite_ref-12" class="reference"><a href="#cite_note-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup> In some schemes, a proportion of all traded permits must be retired periodically, causing a net reduction in emissions over time. Thus, <a href="/wiki/Environmental_group" class="mw-redirect" title="Environmental group">environmental groups</a> may buy and retire permits, driving up the price of the remaining permits according to the <a href="/wiki/Law_of_demand" title="Law of demand">law of demand</a>.<sup id="cite_ref-13" class="reference"><a href="#cite_note-13"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup> In most schemes, permit owners can donate permits to a nonprofit entity and receive a <a href="/wiki/Tax_deduction" title="Tax deduction">tax deductions</a>. Usually, the government lowers the overall limit over time, with an aim towards a national emissions reduction target.<sup id="cite_ref-cap101_9-1" class="reference"><a href="#cite_note-cap101-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup> </p><p>There are active trading programs in several <a href="/wiki/Air_pollutant" class="mw-redirect" title="Air pollutant">air pollutants</a>. An earlier application was the US <a href="/wiki/Acid_Rain_Program" title="Acid Rain Program">national market</a> to reduce <a href="/wiki/Acid_rain" title="Acid rain">acid rain</a>. The United States now has several regional markets in <a href="/wiki/NOx" title="NOx">nitrogen oxides</a>.<sup id="cite_ref-14" class="reference"><a href="#cite_note-14"><span class="cite-bracket">[</span>14<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="History">History</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Emissions_trading&action=edit&section=2" title="Edit section: History"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The efficiency of what later was to be called the "cap-and-trade" approach to <a href="/wiki/Air_pollution" title="Air pollution">air pollution</a> abatement was first demonstrated in a series of micro-economic computer simulation studies between 1967 and 1970 for the National Air Pollution Control Administration (predecessor to the <a href="/wiki/United_States_Environmental_Protection_Agency" title="United States Environmental Protection Agency">United States Environmental Protection Agency</a>'s Office of Air and Radiation) by Ellison Burton and <a href="/wiki/William_Sanjour" title="William Sanjour">William Sanjour</a>. These studies used mathematical models of several cities and their emission sources in order to compare the cost and effectiveness of various control strategies.<sup id="cite_ref-15" class="reference"><a href="#cite_note-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-16" class="reference"><a href="#cite_note-16"><span class="cite-bracket">[</span>16<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-17" class="reference"><a href="#cite_note-17"><span class="cite-bracket">[</span>17<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-18" class="reference"><a href="#cite_note-18"><span class="cite-bracket">[</span>18<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-19" class="reference"><a href="#cite_note-19"><span class="cite-bracket">[</span>19<span class="cite-bracket">]</span></a></sup> Each abatement strategy was compared with the "least-cost solution" produced by a computer optimization program to identify the least-costly combination of source reductions in order to achieve a given abatement goal. In each case it was found that the least-cost solution was dramatically less costly than the same amount of pollution reduction produced by any conventional abatement strategy.<sup id="cite_ref-20" class="reference"><a href="#cite_note-20"><span class="cite-bracket">[</span>20<span class="cite-bracket">]</span></a></sup> Burton and later Sanjour along with Edward H. Pechan continued improving<sup id="cite_ref-21" class="reference"><a href="#cite_note-21"><span class="cite-bracket">[</span>21<span class="cite-bracket">]</span></a></sup> and advancing<sup id="cite_ref-22" class="reference"><a href="#cite_note-22"><span class="cite-bracket">[</span>22<span class="cite-bracket">]</span></a></sup> these computer models at the newly created U.S. Environmental Protection Agency. The agency introduced the concept of computer modeling with least-cost abatement strategies (i.e., emissions trading) in its 1972 annual report to Congress on the cost of clean air.<sup id="cite_ref-23" class="reference"><a href="#cite_note-23"><span class="cite-bracket">[</span>23<span class="cite-bracket">]</span></a></sup> This led to the concept of "cap and trade" as a means of achieving the "least-cost solution" for a given level of abatement. </p><p>The development of emissions trading over the course of its history can be divided into four phases:<sup id="cite_ref-24" class="reference"><a href="#cite_note-24"><span class="cite-bracket">[</span>24<span class="cite-bracket">]</span></a></sup> </p> <ol><li>Gestation: Theoretical articulation of the instrument (by <a href="/wiki/Ronald_Coase" title="Ronald Coase">Coase</a>,<sup id="cite_ref-25" class="reference"><a href="#cite_note-25"><span class="cite-bracket">[</span>25<span class="cite-bracket">]</span></a></sup> Crocker,<sup id="cite_ref-26" class="reference"><a href="#cite_note-26"><span class="cite-bracket">[</span>26<span class="cite-bracket">]</span></a></sup> Dales,<sup id="cite_ref-27" class="reference"><a href="#cite_note-27"><span class="cite-bracket">[</span>27<span class="cite-bracket">]</span></a></sup> Montgomery<sup id="cite_ref-Montgomery1972_28-0" class="reference"><a href="#cite_note-Montgomery1972-28"><span class="cite-bracket">[</span>28<span class="cite-bracket">]</span></a></sup> etc.) and, independent of the former, tinkering with "flexible regulation" at the US Environmental Protection Agency.</li> <li>Proof of Principle: First developments towards trading of emission certificates based on the "offset-mechanism" taken up in Clean Air Act in 1977. A company could get allowance from the Act on a greater amount of emission when it paid another company to reduce the same pollutant.<sup id="cite_ref-29" class="reference"><a href="#cite_note-29"><span class="cite-bracket">[</span>29<span class="cite-bracket">]</span></a></sup></li> <li>Prototype: Launching of a first "cap-and-trade" system as part of the US <a href="/wiki/Acid_Rain_Program" title="Acid Rain Program">Acid Rain Program</a> in Title IV of the <a href="/wiki/1990_Clean_Air_Act" class="mw-redirect" title="1990 Clean Air Act">1990 Clean Air Act</a>, officially announced as a paradigm shift in environmental policy, as prepared by "Project 88", a network-building effort to bring together environmental and industrial interests in the US.</li> <li>Regime formation: branching out from the <a href="/wiki/The_Center_for_Clean_Air_Policy" class="mw-redirect" title="The Center for Clean Air Policy">US clean air policy</a> to <a href="/wiki/Climate_change_policy_of_the_United_States" title="Climate change policy of the United States">global climate policy</a>, and from there to the European Union, along with the expectation of an emerging global <a href="/wiki/Carbon" title="Carbon">carbon</a> market and the formation of the "carbon industry".</li></ol> <p>In the United States, the <a href="/wiki/Acid_rain" title="Acid rain">acid rain</a> related emission trading system was principally conceived by <a href="/wiki/C._Boyden_Gray" title="C. Boyden Gray">C. Boyden Gray</a>, a <a href="/wiki/George_H._W._Bush" title="George H. W. Bush">G.H.W. Bush</a> administration attorney. Gray worked with the <a href="/wiki/Environmental_Defense_Fund" title="Environmental Defense Fund">Environmental Defense Fund</a> (EDF), who worked with the EPA to write the bill that became law as part of the Clean Air Act of 1990. The new emissions cap on NO<sub>x</sub> and <style data-mw-deduplicate="TemplateStyles:r1123817410">.mw-parser-output .template-chem2-su{display:inline-block;font-size:80%;line-height:1;vertical-align:-0.35em}.mw-parser-output .template-chem2-su>span{display:block;text-align:left}.mw-parser-output sub.template-chem2-sub{font-size:80%;vertical-align:-0.35em}.mw-parser-output sup.template-chem2-sup{font-size:80%;vertical-align:0.65em}</style><span class="chemf nowrap"><a href="/wiki/Sulfur_dioxide" title="Sulfur dioxide">SO<sub class="template-chem2-sub">2</sub></a></span> gases took effect in 1995, and according to <i><a href="/wiki/Smithsonian_(magazine)" title="Smithsonian (magazine)">Smithsonian</a></i> magazine, those acid rain emissions dropped 3 million tons that year.<sup id="cite_ref-30" class="reference"><a href="#cite_note-30"><span class="cite-bracket">[</span>30<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Economics">Economics</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Emissions_trading&action=edit&section=3" title="Edit section: Economics"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">See also: <a href="/wiki/Carbon_emission_trading#Economics" title="Carbon emission trading">Carbon emission trading § Economics</a></div> <p>It is possible for a country to reduce emissions using a <a href="/wiki/Command_and_control_(management)" title="Command and control (management)">command-and-control</a> approach, such as regulation, <a href="/wiki/Direct_tax" title="Direct tax">direct</a> and <a href="/wiki/Indirect_tax" title="Indirect tax">indirect taxes</a>. The cost of that approach differs between countries because the <a href="/wiki/Marginal_Abatement_Cost_Curve" class="mw-redirect" title="Marginal Abatement Cost Curve">Marginal Abatement Cost Curve</a> (MAC)—the cost of eliminating an additional unit of pollution—differs by country. </p> <div class="mw-heading mw-heading3"><h3 id="Coase_model">Coase model</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Emissions_trading&action=edit&section=4" title="Edit section: Coase model"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p><a href="/wiki/The_Problem_of_Social_Cost" title="The Problem of Social Cost">Coase (1960)</a><sup id="cite_ref-31" class="reference"><a href="#cite_note-31"><span class="cite-bracket">[</span>31<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-32" class="reference"><a href="#cite_note-32"><span class="cite-bracket">[</span>32<span class="cite-bracket">]</span></a></sup> argued that social costs could be accounted for by negotiating property rights according to a particular objective. Coase's model assumes perfectly operating <a href="/wiki/Market_(economics)" title="Market (economics)">markets</a> and equal <a href="/wiki/Bargaining_power" title="Bargaining power">bargaining power</a> among those arguing for property rights. In Coase's model, efficiency, i.e., achieving a given reduction in emissions at lowest cost, is promoted by the market system. This can also be looked at from the perspective of having the greatest flexibility to reduce emissions. Flexibility is desirable because the <a href="/wiki/Margin_(economics)" title="Margin (economics)">marginal</a> costs, that is to say, the incremental costs of reducing emissions, varies among countries. Emissions trading allows emission reductions to be first made in locations where the marginal costs of abatement are lowest (Bashmakov <i>et al</i>., 2001).<sup id="cite_ref-33" class="reference"><a href="#cite_note-33"><span class="cite-bracket">[</span>33<span class="cite-bracket">]</span></a></sup> Over time, efficiency can also be promoted by allowing "banking" of permits (Goldemberg <i>et al</i>., 1996, p. 30). This allows polluters to reduce emissions at a time when it is most efficient to do so. </p> <div class="mw-heading mw-heading3"><h3 id="Equity">Equity</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Emissions_trading&action=edit&section=5" title="Edit section: Equity"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>One of the advantages of Coase's model is that it suggests that fairness (equity) can be addressed in the distribution of property rights, and that regardless of how these property rights are assigned, the market will produce the most efficient outcome.<sup id="cite_ref-goldemberg_34-0" class="reference"><a href="#cite_note-goldemberg-34"><span class="cite-bracket">[</span>34<span class="cite-bracket">]</span></a></sup> In reality, according to the held view, markets are not perfect, and it is therefore possible that a trade-off will occur between equity and efficiency (Halsnæs <i>et al</i>., 2007).<sup id="cite_ref-35" class="reference"><a href="#cite_note-35"><span class="cite-bracket">[</span>35<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Trading">Trading</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Emissions_trading&action=edit&section=6" title="Edit section: Trading"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In an emissions trading system, permits may be traded by emitters who are liable to hold a sufficient number of permits in system. Some analysts argue that allowing others to participate in trading, e.g., private <a href="/wiki/Broker" title="Broker">brokerage</a> firms, can allow for better <a href="/wiki/Risk_management" title="Risk management">management of risk</a> in the system, e.g., to variations in permit prices (Bashmakov <i>et al.</i>, 2001).<sup id="cite_ref-36" class="reference"><a href="#cite_note-36"><span class="cite-bracket">[</span>36<span class="cite-bracket">]</span></a></sup> It may also improve the efficiency of system. According to Bashmakov <i>et al</i>. (2001), regulation of these other entities may be necessary, as is done in other <a href="/wiki/Financial_market" title="Financial market">financial markets</a>, e.g., to prevent abuses of the system, such as <a href="/wiki/Insider_trading" title="Insider trading">insider trading</a>. </p> <div class="mw-heading mw-heading3"><h3 id="Incentives_and_allocation">Incentives and allocation</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Emissions_trading&action=edit&section=7" title="Edit section: Incentives and allocation"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Emissions trading gives polluters an incentive to reduce their emissions. However, there are possible <a href="/wiki/Perverse_incentive" title="Perverse incentive">perverse incentives</a> that can exist in emissions trading. Allocating permits on the basis of past emissions ("grandfathering") can result in firms having an incentive to maintain emissions. For example, a firm that reduced its emissions would receive fewer permits in the future (IMF, 2008, pp. 25–26).<sup id="cite_ref-imf_37-0" class="reference"><a href="#cite_note-imf-37"><span class="cite-bracket">[</span>37<span class="cite-bracket">]</span></a></sup> There are costs that emitters do face, e.g., the costs of the fuel being used, but there are other costs that are not necessarily included in the price of a good or service. These other costs are called <a href="/wiki/External_cost" class="mw-redirect" title="External cost">external costs</a> (Halsnæs <i>et al.</i>, 2007).<sup id="cite_ref-38" class="reference"><a href="#cite_note-38"><span class="cite-bracket">[</span>38<span class="cite-bracket">]</span></a></sup> This problem can also be criticized on ethical grounds, since the polluter is being paid to reduce emissions (Goldemberg <i>et al</i>., 1996, p. 38).<sup id="cite_ref-goldemberg_34-1" class="reference"><a href="#cite_note-goldemberg-34"><span class="cite-bracket">[</span>34<span class="cite-bracket">]</span></a></sup> On the other hand, a permit system where permits are auctioned rather than given away, provides the government with revenues. These revenues might be used to improve the efficiency of overall climate policy, e.g., by funding <a href="/wiki/Efficient_energy_use" title="Efficient energy use">energy efficiency</a> programs (ACEEE 2019)<sup id="cite_ref-39" class="reference"><a href="#cite_note-39"><span class="cite-bracket">[</span>39<span class="cite-bracket">]</span></a></sup> or reductions in <a href="/wiki/Distortion_(economics)" class="mw-redirect" title="Distortion (economics)">distortionary</a> taxes (Fisher <i>et al</i>., 1996, p. 417).<sup id="cite_ref-40" class="reference"><a href="#cite_note-40"><span class="cite-bracket">[</span>40<span class="cite-bracket">]</span></a></sup> </p><p>In Coase's model of social costs, either choice (grandfathering or auctioning) leads to efficiency. In reality, grandfathering subsidizes polluters, meaning that polluting industries may be kept in business longer than would otherwise occur.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="source (April 2014)">citation needed</span></a></i>]</sup> Grandfathering may also reduce the rate of technological improvement towards less polluting technologies (Fisher <i>et al.</i>, 1996, p. 417). </p><p>William Nordhaus argues that allocations cost the economy as they cause the under utilisation an efficient form of taxation.<sup id="cite_ref-nordhaus_taxorno_41-0" class="reference"><a href="#cite_note-nordhaus_taxorno-41"><span class="cite-bracket">[</span>41<span class="cite-bracket">]</span></a></sup> Nordhaus argues that normal income, goods or service taxes distort efficient investment and consumption, so by using pollution taxes to generate revenue an emissions scheme can increase the efficiency of the economy.<sup id="cite_ref-nordhaus_taxorno_41-1" class="reference"><a href="#cite_note-nordhaus_taxorno-41"><span class="cite-bracket">[</span>41<span class="cite-bracket">]</span></a></sup> </p><p><b>Form of allocation</b> </p><p>The economist <a href="/wiki/Ross_Garnaut" title="Ross Garnaut">Ross Garnaut</a> states that permits allocated to existing emitters by 'grandfathering' are not 'free'. As the permits are scarce they have value and the benefit of that value is acquired in full by the emitter. The cost is imposed elsewhere in the economy, typically on consumers who cannot pass on the costs.<sup id="cite_ref-garnaut_42-0" class="reference"><a href="#cite_note-garnaut-42"><span class="cite-bracket">[</span>42<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Market_and_least-cost">Market and least-cost</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Emissions_trading&action=edit&section=8" title="Edit section: Market and least-cost"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Some economists have urged the use of market-based instruments such as emissions trading to address environmental problems instead of prescriptive "command-and-control" regulation.<sup id="cite_ref-stavins98_43-0" class="reference"><a href="#cite_note-stavins98-43"><span class="cite-bracket">[</span>43<span class="cite-bracket">]</span></a></sup> <a href="/wiki/Command_and_control_regulation" title="Command and control regulation">Command and control regulation</a> is criticized for being insensitive to geographical and technological differences, and therefore inefficient;<sup id="cite_ref-44" class="reference"><a href="#cite_note-44"><span class="cite-bracket">[</span>44<span class="cite-bracket">]</span></a></sup> however, this is not always so, as shown by the WWII rationing program in the U.S. in which local and regional boards made adjustments for these differences.<sup id="cite_ref-45" class="reference"><a href="#cite_note-45"><span class="cite-bracket">[</span>45<span class="cite-bracket">]</span></a></sup> </p><p>After an emissions limit has been set by a government political process, individual companies are free to choose how or whether to reduce their emissions. Failure to report emissions and surrender emission permits is often punishable by a further government regulatory mechanism, such as a fine that increases costs of production. Firms will choose the least-cost way to comply with the pollution regulation, which will lead to reductions where the least expensive solutions exist, while allowing emissions that are more expensive to reduce. </p><p>Under an emissions trading system, each regulated polluter has flexibility to use the most cost-effective combination of buying or selling emission permits, reducing its emissions by installing cleaner technology, or reducing its emissions by reducing production. The most cost-effective strategy depends on the polluter's marginal abatement cost and the market price of permits. In theory, a polluter's decisions should lead to an economically efficient allocation of reductions among polluters, and lower compliance costs for individual firms and for the economy overall, compared to command-and-control mechanisms.<sup id="cite_ref-46" class="reference"><a href="#cite_note-46"><span class="cite-bracket">[</span>46<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-boswall_10-1" class="reference"><a href="#cite_note-boswall-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Measuring,_reporting,_verification_and_enforcement"><span id="Measuring.2C_reporting.2C_verification_and_enforcement"></span>Measuring, reporting, verification and enforcement</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Emissions_trading&action=edit&section=9" title="Edit section: Measuring, reporting, verification and enforcement"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1251242444">.mw-parser-output .ambox{border:1px solid #a2a9b1;border-left:10px solid #36c;background-color:#fbfbfb;box-sizing:border-box}.mw-parser-output .ambox+link+.ambox,.mw-parser-output .ambox+link+style+.ambox,.mw-parser-output .ambox+link+link+.ambox,.mw-parser-output .ambox+.mw-empty-elt+link+.ambox,.mw-parser-output .ambox+.mw-empty-elt+link+style+.ambox,.mw-parser-output .ambox+.mw-empty-elt+link+link+.ambox{margin-top:-1px}html body.mediawiki .mw-parser-output .ambox.mbox-small-left{margin:4px 1em 4px 0;overflow:hidden;width:238px;border-collapse:collapse;font-size:88%;line-height:1.25em}.mw-parser-output .ambox-speedy{border-left:10px solid #b32424;background-color:#fee7e6}.mw-parser-output .ambox-delete{border-left:10px solid #b32424}.mw-parser-output .ambox-content{border-left:10px solid #f28500}.mw-parser-output .ambox-style{border-left:10px solid #fc3}.mw-parser-output .ambox-move{border-left:10px solid #9932cc}.mw-parser-output .ambox-protection{border-left:10px solid #a2a9b1}.mw-parser-output .ambox .mbox-text{border:none;padding:0.25em 0.5em;width:100%}.mw-parser-output .ambox .mbox-image{border:none;padding:2px 0 2px 0.5em;text-align:center}.mw-parser-output .ambox .mbox-imageright{border:none;padding:2px 0.5em 2px 0;text-align:center}.mw-parser-output .ambox .mbox-empty-cell{border:none;padding:0;width:1px}.mw-parser-output .ambox .mbox-image-div{width:52px}@media(min-width:720px){.mw-parser-output .ambox{margin:0 10%}}@media print{body.ns-0 .mw-parser-output .ambox{display:none!important}}</style><table class="box-More_citations_needed_section plainlinks metadata ambox ambox-content ambox-Refimprove" role="presentation"><tbody><tr><td class="mbox-image"><div class="mbox-image-div"><span typeof="mw:File"><a href="/wiki/File:Question_book-new.svg" class="mw-file-description"><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/9/99/Question_book-new.svg/50px-Question_book-new.svg.png" decoding="async" width="50" height="39" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/9/99/Question_book-new.svg/75px-Question_book-new.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/9/99/Question_book-new.svg/100px-Question_book-new.svg.png 2x" data-file-width="512" data-file-height="399" /></a></span></div></td><td class="mbox-text"><div class="mbox-text-span">This section <b>needs additional citations for <a href="/wiki/Wikipedia:Verifiability" title="Wikipedia:Verifiability">verification</a></b>.<span class="hide-when-compact"> Please help <a href="/wiki/Special:EditPage/Emissions_trading" title="Special:EditPage/Emissions trading">improve this article</a> by <a href="/wiki/Help:Referencing_for_beginners" title="Help:Referencing for beginners">adding citations to reliable sources</a> in this section. Unsourced material may be challenged and removed.</span> <span class="date-container"><i>(<span class="date">September 2009</span>)</i></span><span class="hide-when-compact"><i> (<small><a href="/wiki/Help:Maintenance_template_removal" title="Help:Maintenance template removal">Learn how and when to remove this message</a></small>)</i></span></div></td></tr></tbody></table> <p>In some industrial processes, emissions can be physically measured by inserting sensors and flowmeters in chimneys and stacks, but many types of activity rely on theoretical calculations instead of measurement. Depending on local legislation, measurements may require additional checks and verification by government or third party <a href="/wiki/Auditor" title="Auditor">auditors</a>, prior or post submission to the local regulator. </p><p>Enforcement methods include <a href="/wiki/Fine_(penalty)" title="Fine (penalty)">fines</a> and <a href="/wiki/Sanctions_(law)" title="Sanctions (law)">sanctions</a> for polluters that have exceeded their allowances. Concerns include the cost of MRV and enforcement, and the risk that facilities may lie about actual emissions. </p> <div class="mw-heading mw-heading4"><h4 id="Pollution_markets">Pollution markets</h4><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Emissions_trading&action=edit&section=10" title="Edit section: Pollution markets"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>An emission license directly confers a right to emit pollutants up to a certain rate. In contrast, a <b>pollution license</b> for a given location confers the right to emit pollutants at a rate which will cause no more than a specified increase at the pollution-level. For concreteness, consider the following model.<sup id="cite_ref-Montgomery1972_28-1" class="reference"><a href="#cite_note-Montgomery1972-28"><span class="cite-bracket">[</span>28<span class="cite-bracket">]</span></a></sup> </p> <ul><li>There are <span class="mwe-math-element"><span class="mwe-math-mathml-inline mwe-math-mathml-a11y" style="display: none;"><math xmlns="http://www.w3.org/1998/Math/MathML" alttext="{\displaystyle n}"> <semantics> <mrow class="MJX-TeXAtom-ORD"> <mstyle displaystyle="true" scriptlevel="0"> <mi>n</mi> </mstyle> </mrow> <annotation encoding="application/x-tex">{\displaystyle n}</annotation> </semantics> </math></span><img src="https://wikimedia.org/api/rest_v1/media/math/render/svg/a601995d55609f2d9f5e233e36fbe9ea26011b3b" class="mwe-math-fallback-image-inline mw-invert skin-invert" aria-hidden="true" style="vertical-align: -0.338ex; width:1.395ex; height:1.676ex;" alt="{\displaystyle n}"></span> agents each of which emits <span class="mwe-math-element"><span class="mwe-math-mathml-inline mwe-math-mathml-a11y" style="display: none;"><math xmlns="http://www.w3.org/1998/Math/MathML" alttext="{\displaystyle e_{i}}"> <semantics> <mrow class="MJX-TeXAtom-ORD"> <mstyle displaystyle="true" scriptlevel="0"> <msub> <mi>e</mi> <mrow class="MJX-TeXAtom-ORD"> <mi>i</mi> </mrow> </msub> </mstyle> </mrow> <annotation encoding="application/x-tex">{\displaystyle e_{i}}</annotation> </semantics> </math></span><img src="https://wikimedia.org/api/rest_v1/media/math/render/svg/ebdc3a9cb1583d3204eff8918b558c293e0d2cf3" class="mwe-math-fallback-image-inline mw-invert skin-invert" aria-hidden="true" style="vertical-align: -0.671ex; width:1.883ex; height:2.009ex;" alt="{\displaystyle e_{i}}"></span> pollutants.</li> <li>There are <span class="mwe-math-element"><span class="mwe-math-mathml-inline mwe-math-mathml-a11y" style="display: none;"><math xmlns="http://www.w3.org/1998/Math/MathML" alttext="{\displaystyle m}"> <semantics> <mrow class="MJX-TeXAtom-ORD"> <mstyle displaystyle="true" scriptlevel="0"> <mi>m</mi> </mstyle> </mrow> <annotation encoding="application/x-tex">{\displaystyle m}</annotation> </semantics> </math></span><img src="https://wikimedia.org/api/rest_v1/media/math/render/svg/0a07d98bb302f3856cbabc47b2b9016692e3f7bc" class="mwe-math-fallback-image-inline mw-invert skin-invert" aria-hidden="true" style="vertical-align: -0.338ex; width:2.04ex; height:1.676ex;" alt="{\displaystyle m}"></span> locations each of which suffers pollution <span class="mwe-math-element"><span class="mwe-math-mathml-inline mwe-math-mathml-a11y" style="display: none;"><math xmlns="http://www.w3.org/1998/Math/MathML" alttext="{\displaystyle q_{i}}"> <semantics> <mrow class="MJX-TeXAtom-ORD"> <mstyle displaystyle="true" scriptlevel="0"> <msub> <mi>q</mi> <mrow class="MJX-TeXAtom-ORD"> <mi>i</mi> </mrow> </msub> </mstyle> </mrow> <annotation encoding="application/x-tex">{\displaystyle q_{i}}</annotation> </semantics> </math></span><img src="https://wikimedia.org/api/rest_v1/media/math/render/svg/2752dcbff884354069fe332b8e51eb0a70a531b6" class="mwe-math-fallback-image-inline mw-invert skin-invert" aria-hidden="true" style="vertical-align: -0.671ex; width:1.837ex; height:2.009ex;" alt="{\displaystyle q_{i}}"></span>.</li> <li>The pollution is a linear combination of the emissions. The relation between <span class="mwe-math-element"><span class="mwe-math-mathml-inline mwe-math-mathml-a11y" style="display: none;"><math xmlns="http://www.w3.org/1998/Math/MathML" alttext="{\displaystyle e}"> <semantics> <mrow class="MJX-TeXAtom-ORD"> <mstyle displaystyle="true" scriptlevel="0"> <mi>e</mi> </mstyle> </mrow> <annotation encoding="application/x-tex">{\displaystyle e}</annotation> </semantics> </math></span><img src="https://wikimedia.org/api/rest_v1/media/math/render/svg/cd253103f0876afc68ebead27a5aa9867d927467" class="mwe-math-fallback-image-inline mw-invert skin-invert" aria-hidden="true" style="vertical-align: -0.338ex; width:1.083ex; height:1.676ex;" alt="{\displaystyle e}"></span> and <span class="mwe-math-element"><span class="mwe-math-mathml-inline mwe-math-mathml-a11y" style="display: none;"><math xmlns="http://www.w3.org/1998/Math/MathML" alttext="{\displaystyle q}"> <semantics> <mrow class="MJX-TeXAtom-ORD"> <mstyle displaystyle="true" scriptlevel="0"> <mi>q</mi> </mstyle> </mrow> <annotation encoding="application/x-tex">{\displaystyle q}</annotation> </semantics> </math></span><img src="https://wikimedia.org/api/rest_v1/media/math/render/svg/06809d64fa7c817ffc7e323f85997f783dbdf71d" class="mwe-math-fallback-image-inline mw-invert skin-invert" aria-hidden="true" style="vertical-align: -0.671ex; width:1.07ex; height:2.009ex;" alt="{\displaystyle q}"></span> is given by a <i>diffusion matrix</i> <span class="mwe-math-element"><span class="mwe-math-mathml-inline mwe-math-mathml-a11y" style="display: none;"><math xmlns="http://www.w3.org/1998/Math/MathML" alttext="{\displaystyle H}"> <semantics> <mrow class="MJX-TeXAtom-ORD"> <mstyle displaystyle="true" scriptlevel="0"> <mi>H</mi> </mstyle> </mrow> <annotation encoding="application/x-tex">{\displaystyle H}</annotation> </semantics> </math></span><img src="https://wikimedia.org/api/rest_v1/media/math/render/svg/75a9edddcca2f782014371f75dca39d7e13a9c1b" class="mwe-math-fallback-image-inline mw-invert skin-invert" aria-hidden="true" style="vertical-align: -0.338ex; width:2.064ex; height:2.176ex;" alt="{\displaystyle H}"></span>, such that: <span class="mwe-math-element"><span class="mwe-math-mathml-inline mwe-math-mathml-a11y" style="display: none;"><math xmlns="http://www.w3.org/1998/Math/MathML" alttext="{\displaystyle q=H\cdot e}"> <semantics> <mrow class="MJX-TeXAtom-ORD"> <mstyle displaystyle="true" scriptlevel="0"> <mi>q</mi> <mo>=</mo> <mi>H</mi> <mo>⋅</mo> <mi>e</mi> </mstyle> </mrow> <annotation encoding="application/x-tex">{\displaystyle q=H\cdot e}</annotation> </semantics> </math></span><img src="https://wikimedia.org/api/rest_v1/media/math/render/svg/16ae8e896992f55e88a5f59fa0dd7f5a395e1191" class="mwe-math-fallback-image-inline mw-invert skin-invert" aria-hidden="true" style="vertical-align: -0.671ex; width:8.994ex; height:2.509ex;" alt="{\displaystyle q=H\cdot e}"></span>.</li></ul> <p>As an example, consider three countries along a river (as in the <a href="/wiki/Fair_river_sharing" title="Fair river sharing">fair river sharing</a> setting). </p> <ul><li>Pollution in the upstream country is determined only by the emission of the upstream country: <span class="mwe-math-element"><span class="mwe-math-mathml-inline mwe-math-mathml-a11y" style="display: none;"><math xmlns="http://www.w3.org/1998/Math/MathML" alttext="{\displaystyle q_{1}=e_{1}}"> <semantics> <mrow class="MJX-TeXAtom-ORD"> <mstyle displaystyle="true" scriptlevel="0"> <msub> <mi>q</mi> <mrow class="MJX-TeXAtom-ORD"> <mn>1</mn> </mrow> </msub> <mo>=</mo> <msub> <mi>e</mi> <mrow class="MJX-TeXAtom-ORD"> <mn>1</mn> </mrow> </msub> </mstyle> </mrow> <annotation encoding="application/x-tex">{\displaystyle q_{1}=e_{1}}</annotation> </semantics> </math></span><img src="https://wikimedia.org/api/rest_v1/media/math/render/svg/144ed39ef9b932ccd7ad722c3b7163865f9ebe34" class="mwe-math-fallback-image-inline mw-invert skin-invert" aria-hidden="true" style="vertical-align: -0.671ex; width:7.327ex; height:2.009ex;" alt="{\displaystyle q_{1}=e_{1}}"></span>.</li> <li>Pollution in the middle country is determined by its own emission and by the emission of country 1: <span class="mwe-math-element"><span class="mwe-math-mathml-inline mwe-math-mathml-a11y" style="display: none;"><math xmlns="http://www.w3.org/1998/Math/MathML" alttext="{\displaystyle q_{2}=e_{1}+e_{2}}"> <semantics> <mrow class="MJX-TeXAtom-ORD"> <mstyle displaystyle="true" scriptlevel="0"> <msub> <mi>q</mi> <mrow class="MJX-TeXAtom-ORD"> <mn>2</mn> </mrow> </msub> <mo>=</mo> <msub> <mi>e</mi> <mrow class="MJX-TeXAtom-ORD"> <mn>1</mn> </mrow> </msub> <mo>+</mo> <msub> <mi>e</mi> <mrow class="MJX-TeXAtom-ORD"> <mn>2</mn> </mrow> </msub> </mstyle> </mrow> <annotation encoding="application/x-tex">{\displaystyle q_{2}=e_{1}+e_{2}}</annotation> </semantics> </math></span><img src="https://wikimedia.org/api/rest_v1/media/math/render/svg/a2fed945482411b319ced9fb5a974785490db50f" class="mwe-math-fallback-image-inline mw-invert skin-invert" aria-hidden="true" style="vertical-align: -0.671ex; width:12.306ex; height:2.343ex;" alt="{\displaystyle q_{2}=e_{1}+e_{2}}"></span>.</li> <li>Pollution in the downstream country is the sum of all emissions: <span class="mwe-math-element"><span class="mwe-math-mathml-inline mwe-math-mathml-a11y" style="display: none;"><math xmlns="http://www.w3.org/1998/Math/MathML" alttext="{\displaystyle q_{3}=e_{1}+e_{2}+e_{3}}"> <semantics> <mrow class="MJX-TeXAtom-ORD"> <mstyle displaystyle="true" scriptlevel="0"> <msub> <mi>q</mi> <mrow class="MJX-TeXAtom-ORD"> <mn>3</mn> </mrow> </msub> <mo>=</mo> <msub> <mi>e</mi> <mrow class="MJX-TeXAtom-ORD"> <mn>1</mn> </mrow> </msub> <mo>+</mo> <msub> <mi>e</mi> <mrow class="MJX-TeXAtom-ORD"> <mn>2</mn> </mrow> </msub> <mo>+</mo> <msub> <mi>e</mi> <mrow class="MJX-TeXAtom-ORD"> <mn>3</mn> </mrow> </msub> </mstyle> </mrow> <annotation encoding="application/x-tex">{\displaystyle q_{3}=e_{1}+e_{2}+e_{3}}</annotation> </semantics> </math></span><img src="https://wikimedia.org/api/rest_v1/media/math/render/svg/c9d6ce76f91cc197773e481ef240c47f9bff449f" class="mwe-math-fallback-image-inline mw-invert skin-invert" aria-hidden="true" style="vertical-align: -0.671ex; width:17.284ex; height:2.343ex;" alt="{\displaystyle q_{3}=e_{1}+e_{2}+e_{3}}"></span>.</li></ul> <p>So the matrix <span class="mwe-math-element"><span class="mwe-math-mathml-inline mwe-math-mathml-a11y" style="display: none;"><math xmlns="http://www.w3.org/1998/Math/MathML" alttext="{\displaystyle H}"> <semantics> <mrow class="MJX-TeXAtom-ORD"> <mstyle displaystyle="true" scriptlevel="0"> <mi>H</mi> </mstyle> </mrow> <annotation encoding="application/x-tex">{\displaystyle H}</annotation> </semantics> </math></span><img src="https://wikimedia.org/api/rest_v1/media/math/render/svg/75a9edddcca2f782014371f75dca39d7e13a9c1b" class="mwe-math-fallback-image-inline mw-invert skin-invert" aria-hidden="true" style="vertical-align: -0.338ex; width:2.064ex; height:2.176ex;" alt="{\displaystyle H}"></span> in this case is a triangular matrix of ones. </p><p>Each pollution-license for location <span class="mwe-math-element"><span class="mwe-math-mathml-inline mwe-math-mathml-a11y" style="display: none;"><math xmlns="http://www.w3.org/1998/Math/MathML" alttext="{\displaystyle i}"> <semantics> <mrow class="MJX-TeXAtom-ORD"> <mstyle displaystyle="true" scriptlevel="0"> <mi>i</mi> </mstyle> </mrow> <annotation encoding="application/x-tex">{\displaystyle i}</annotation> </semantics> </math></span><img src="https://wikimedia.org/api/rest_v1/media/math/render/svg/add78d8608ad86e54951b8c8bd6c8d8416533d20" class="mwe-math-fallback-image-inline mw-invert skin-invert" aria-hidden="true" style="vertical-align: -0.338ex; width:0.802ex; height:2.176ex;" alt="{\displaystyle i}"></span> permits its holder to emit pollutants that will cause at most this level of pollution at location <span class="mwe-math-element"><span class="mwe-math-mathml-inline mwe-math-mathml-a11y" style="display: none;"><math xmlns="http://www.w3.org/1998/Math/MathML" alttext="{\displaystyle i}"> <semantics> <mrow class="MJX-TeXAtom-ORD"> <mstyle displaystyle="true" scriptlevel="0"> <mi>i</mi> </mstyle> </mrow> <annotation encoding="application/x-tex">{\displaystyle i}</annotation> </semantics> </math></span><img src="https://wikimedia.org/api/rest_v1/media/math/render/svg/add78d8608ad86e54951b8c8bd6c8d8416533d20" class="mwe-math-fallback-image-inline mw-invert skin-invert" aria-hidden="true" style="vertical-align: -0.338ex; width:0.802ex; height:2.176ex;" alt="{\displaystyle i}"></span>. Therefore, a polluter that affects water quality at a number of points has to hold a portfolio of licenses covering all relevant monitoring-points. In the above example, if country 2 wants to emit a unit of pollutant, it should purchase two permits: one for location 2 and one for location 3. </p><p>Montgomery shows that, while both markets lead to efficient license allocation, the market in pollution-licenses is more widely applicable than the market in emission-licenses.<sup id="cite_ref-Montgomery1972_28-2" class="reference"><a href="#cite_note-Montgomery1972-28"><span class="cite-bracket">[</span>28<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="International_emissions_trading">International emissions trading</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Emissions_trading&action=edit&section=11" title="Edit section: International emissions trading"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1246091330"><table class="sidebar sidebar-collapse nomobile nowraplinks"><tbody><tr><td class="sidebar-pretitle"><i>Part of <a href="/wiki/Category:Trade" title="Category:Trade">a series</a> on</i></td></tr><tr><th class="sidebar-title-with-pretitle"><a href="/wiki/International_trade" title="International trade">World trade</a></th></tr><tr><td class="sidebar-image" style="padding: 0.4em 0 0.4em; border-bottom: 1px solid #ccc"><figure class="mw-halign-center notpageimage" typeof="mw:File"><a href="/wiki/File:Storck_Harbour_scene.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/c/cf/Storck_Harbour_scene.jpg/180px-Storck_Harbour_scene.jpg" decoding="async" width="180" height="181" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/c/cf/Storck_Harbour_scene.jpg/270px-Storck_Harbour_scene.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/c/cf/Storck_Harbour_scene.jpg/360px-Storck_Harbour_scene.jpg 2x" data-file-width="1590" data-file-height="1599" /></a><figcaption></figcaption></figure></td></tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="border-bottom: 1px solid #ccc; background: transparent; text-align: left;;color: var(--color-base)"><a href="/wiki/Commercial_policy" title="Commercial policy">Policy</a></div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/Import" title="Import">Import</a></li> <li><a href="/wiki/Export" title="Export">Export</a></li> <li><a href="/wiki/Balance_of_trade" title="Balance of trade">Balance of trade</a></li> <li><a href="/wiki/International_trade_law" title="International trade law">Trade law</a></li> <li><a href="/wiki/Trade_agreement" title="Trade agreement">Trade pact</a></li> <li><a href="/wiki/Trade_bloc" title="Trade bloc">Trade bloc</a></li> <li><a href="/wiki/Trade_creation" title="Trade creation">Trade creation</a></li> <li><a href="/wiki/Trade_diversion" title="Trade diversion">Trade diversion</a></li> <li><a href="/wiki/Export-oriented_industrialization" title="Export-oriented industrialization">Export orientation</a></li> <li><a href="/wiki/Import_substitution_industrialization" title="Import substitution industrialization">Import substitution</a></li> <li><a href="/wiki/Trade_finance" title="Trade finance">Trade finance</a></li> <li><a href="/wiki/Trade_facilitation" title="Trade facilitation">Trade facilitation</a></li> <li><a href="/wiki/Trade_route" title="Trade route">Trade route</a></li> <li><a href="/wiki/Domestic_trade" class="mw-redirect" title="Domestic trade">Domestic trade</a></li> <li><a href="/wiki/Tax" title="Tax">Tax</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="border-bottom: 1px solid #ccc; background: transparent; text-align: left;;color: var(--color-base)"><a href="/wiki/Trade_restriction" title="Trade restriction">Restrictions</a></div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/Trade_barrier" title="Trade barrier">Trade barriers</a></li> <li><a href="/wiki/Tariff" title="Tariff">Tariffs</a></li> <li><a href="/wiki/Non-tariff_barriers_to_trade" title="Non-tariff barriers to trade">Non-tariff barriers</a></li> <li><a href="/wiki/Import_quota" title="Import quota">Import quotas</a></li> <li><a href="/wiki/Tariff-rate_quota" title="Tariff-rate quota">Tariff-rate quotas</a></li> <li><a href="/wiki/Import_license" title="Import license">Import licenses</a></li> <li><a href="/wiki/Duty_(economics)" class="mw-redirect" title="Duty (economics)">Customs duties</a></li> <li><a href="/wiki/Export_subsidy" title="Export subsidy">Export subsidies</a></li> <li><a href="/wiki/Technical_barriers_to_trade" title="Technical barriers to trade">Technical barriers</a></li> <li><a href="/wiki/Bribery" title="Bribery">Bribery</a></li> <li><a href="/wiki/Foreign_exchange_controls" title="Foreign exchange controls">Exchange rate controls</a></li> <li><a href="/wiki/Economic_sanctions" title="Economic sanctions">Embargo</a></li> <li><a href="/wiki/Safeguard_(international_law)" class="mw-redirect" title="Safeguard (international law)">Safeguards</a></li> <li><a href="/wiki/Countervailing_duties" title="Countervailing duties">Countervailing duties</a></li> <li><a href="/wiki/Dumping_(pricing_policy)" title="Dumping (pricing policy)">Anti-dumping duties</a></li> <li><a href="/wiki/Voluntary_export_restraint" title="Voluntary export restraint">Voluntary export restraints</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="border-bottom: 1px solid #ccc; background: transparent; text-align: left;;color: var(--color-base)"><a href="/wiki/Timeline_of_international_trade" title="Timeline of international trade">History</a></div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/Mercantilism" title="Mercantilism">Mercantilism</a></li> <li><a href="/wiki/Protectionism" title="Protectionism">Protectionism</a></li> <li><a href="/wiki/Laissez-faire" title="Laissez-faire">Laissez-faire</a></li> <li><a href="/wiki/Free_trade" title="Free trade">Free trade</a></li> <li><a href="/wiki/Economic_nationalism" title="Economic nationalism">Economic nationalism</a></li> <li><a href="/wiki/Economic_integration" title="Economic integration">Economic integration</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="border-bottom: 1px solid #ccc; background: transparent; text-align: left;;color: var(--color-base)">Organizations</div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/International_Monetary_Fund" title="International Monetary Fund">International Monetary Fund</a></li> <li><a href="/wiki/International_Trade_Centre" title="International Trade Centre">International Trade Centre</a></li> <li><a href="/wiki/World_Trade_Organization" title="World Trade Organization">World Trade Organization</a></li> <li><a href="/wiki/World_Customs_Organization" title="World Customs Organization">World Customs Organization</a></li> <li><a href="/wiki/International_Chamber_of_Commerce" title="International Chamber of Commerce">International Chamber of Commerce</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="border-bottom: 1px solid #ccc; background: transparent; text-align: left;;color: var(--color-base)">Economic integration</div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/Preferential_trading_area" title="Preferential trading area">Preferential trading area</a></li> <li><a href="/wiki/Free-trade_area" class="mw-redirect" title="Free-trade area">Free-trade area</a></li> <li><a href="/wiki/Currency_union" title="Currency union">Currency union</a></li> <li><a href="/wiki/Customs_union" title="Customs union">Customs union</a></li> <li><a href="/wiki/Single_market" title="Single market">Single market</a></li> <li><a href="/wiki/Economic_union" title="Economic union">Economic union</a></li> <li><a href="/wiki/Fiscal_union" title="Fiscal union">Fiscal union</a></li> <li><a href="/wiki/Customs_and_monetary_union" title="Customs and monetary union">Customs and monetary union</a></li> <li><a href="/wiki/Economic_and_monetary_union" title="Economic and monetary union">Economic and monetary union</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="border-bottom: 1px solid #ccc; background: transparent; text-align: left;;color: var(--color-base)">Issues</div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/Intellectual_property" title="Intellectual property">Intellectual property rights</a></li> <li><a href="/wiki/Smuggling" title="Smuggling">Smuggling</a></li> <li><a href="/wiki/Competition_law" title="Competition law">Competition policy</a></li> <li><a href="/wiki/Government_procurement" title="Government procurement">Government procurement</a></li> <li><a href="/wiki/Outsourcing" title="Outsourcing">Outsourcing</a></li> <li><a href="/wiki/Globalization" title="Globalization">Globalization</a></li> <li><a href="/wiki/Fair_trade" title="Fair trade">Fair trade</a></li> <li><a href="/wiki/Trade_justice" title="Trade justice">Trade justice</a></li> <li><a class="mw-selflink selflink">Emissions trading</a></li> <li><a href="/wiki/Economic_sanctions" title="Economic sanctions">Trade sanctions</a></li> <li>War <ul><li><a href="/wiki/Currency_war" title="Currency war">Currency war</a></li> <li><a href="/wiki/Trade_facilitation_and_development" title="Trade facilitation and development">Trade costs</a></li> <li><a href="/wiki/Trade_war" title="Trade war">Trade war</a></li></ul></li> <li><a href="/wiki/Trade_and_development" title="Trade and development">Trade and development</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="border-bottom: 1px solid #ccc; background: transparent; text-align: left;;color: var(--color-base)"><a href="/wiki/Index_of_international_trade_articles" title="Index of international trade articles">Lists</a></div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/List_of_countries_by_imports" title="List of countries by imports">Imports</a></li> <li><a href="/wiki/List_of_countries_by_exports" title="List of countries by exports">Exports</a></li> <li><a href="/wiki/List_of_tariffs" title="List of tariffs">Tariffs</a></li> <li><a href="/wiki/List_of_largest_consumer_markets" title="List of largest consumer markets">Largest consumer markets</a></li> <li><a href="/wiki/List_of_countries_by_leading_trade_partners" title="List of countries by leading trade partners">Leading trade partners</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="border-bottom: 1px solid #ccc; background: transparent; text-align: left;;color: var(--color-base)"><a href="/wiki/Category:Foreign_trade_by_country" title="Category:Foreign trade by country">By country</a></div><div class="sidebar-list-content mw-collapsible-content hlist" style="padding-bottom: 0"> <ul><li><a href="/wiki/Trade_mission" title="Trade mission">Trade mission</a></li> <li><a href="/wiki/Trading_nation" title="Trading nation">Trading nation</a></li> <li><a href="/wiki/Foreign_trade_of_the_United_States" title="Foreign trade of the United States">United States</a></li> <li><a href="/wiki/Foreign_trade_of_Argentina" title="Foreign trade of Argentina">Argentina</a></li> <li><a href="/wiki/Foreign_trade_of_Pakistan" title="Foreign trade of Pakistan">Pakistan</a></li> <li><a href="/wiki/Foreign_trade_of_Romania" title="Foreign trade of Romania">Romania</a></li> <li><a href="/wiki/Foreign_trade_of_Vietnam" title="Foreign trade of Vietnam">Vietnam</a></li> <li><a href="/wiki/Foreign_trade_of_India" title="Foreign trade of India">India</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="border-bottom: 1px solid #ccc; background: transparent; text-align: left;;color: var(--color-base)">Theory</div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/Comparative_advantage" title="Comparative advantage">Comparative advantage</a></li> <li><a href="/wiki/Competitive_advantage" title="Competitive advantage">Competitive advantage</a></li> <li><a href="/wiki/Heckscher%E2%80%93Ohlin_model" title="Heckscher–Ohlin model">Heckscher–Ohlin model</a></li> <li><a href="/wiki/New_trade_theory" title="New trade theory">New trade theory</a></li> <li><a href="/wiki/Economic_geography" title="Economic geography">Economic geography</a></li> <li><a href="/wiki/Intra-industry_trade" title="Intra-industry trade">Intra-industry trade</a></li> <li><a href="/wiki/Gravity_model_of_trade" title="Gravity model of trade">Gravity model of trade</a></li> <li><a href="/wiki/International_trade#Ricardian_theory_of_international_trade" title="International trade">Ricardian trade theories</a></li> <li><a href="/wiki/Balassa%E2%80%93Samuelson_effect" title="Balassa–Samuelson effect">Balassa–Samuelson effect</a></li> <li><a href="/wiki/Linder_hypothesis" title="Linder hypothesis">Linder hypothesis</a></li> <li><a href="/wiki/Leontief_paradox" title="Leontief paradox">Leontief paradox</a></li> <li><a href="/wiki/Lerner_symmetry_theorem" title="Lerner symmetry theorem">Lerner symmetry theorem</a></li> <li><a href="/wiki/Terms_of_trade" title="Terms of trade">Terms of trade</a></li></ul></div></div></td> </tr><tr><td class="sidebar-navbar"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:World_trade" title="Template:World trade"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:World_trade" title="Template talk:World trade"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:World_trade" title="Special:EditPage/Template:World trade"><abbr title="Edit this template">e</abbr></a></li></ul></div></td></tr></tbody></table> <p>The nature of the pollutant plays a very important role when policy-makers decide which framework should be used to control pollution. CO<sub>2</sub> acts globally, thus its impact on the environment is generally similar wherever in the globe it is released. So the location of the originator of the emissions does not matter from an environmental standpoint.<sup id="cite_ref-EO_1_47-0" class="reference"><a href="#cite_note-EO_1-47"><span class="cite-bracket">[</span>47<span class="cite-bracket">]</span></a></sup> </p><p>The policy framework is different for regional pollutants<sup id="cite_ref-:3_2-1" class="reference"><a href="#cite_note-:3-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-48" class="reference"><a href="#cite_note-48"><span class="cite-bracket">[</span>48<span class="cite-bracket">]</span></a></sup> (e.g. <a href="/wiki/Sulfur_dioxide" title="Sulfur dioxide">SO<sub>2</sub></a> and <a href="/wiki/NOx" title="NOx">NO<sub>x</sub></a>, and also <a href="/wiki/Mercury_(element)" title="Mercury (element)">mercury</a>) because the impact of these pollutants may differ by location. The same amount of a regional pollutant can exert a very high impact in some locations and a low impact in other locations, so it matters where the pollutant is released. This is known as the <i>Hot Spot</i> problem. </p><p>A <a href="/wiki/Euler%E2%80%93Lagrange_equation" title="Euler–Lagrange equation">Lagrange framework</a> is commonly used to determine the least cost of achieving an objective, in this case the total reduction in emissions required in a year. In some cases, it is possible to use the Lagrange optimization framework to determine the required reductions for each country (based on their MAC) so that the total cost of reduction is minimized. In such a scenario, the <a href="/wiki/Lagrange_multiplier" title="Lagrange multiplier">Lagrange multiplier</a> represents the market allowance price (P) of a pollutant, such as the current market price of emission permits in Europe and the US.<sup id="cite_ref-49" class="reference"><a href="#cite_note-49"><span class="cite-bracket">[</span>49<span class="cite-bracket">]</span></a></sup> </p><p>Countries face the permit market price that exists in the market that day, so they are able to make individual decisions that would minimize their costs while at the same time achieving regulatory compliance. This is also another version of the <a href="/wiki/Ordinal_utility" title="Ordinal utility">Equi-Marginal Principle</a>, commonly used in economics to choose the most economically efficient decision. </p> <div class="mw-heading mw-heading3"><h3 id="Prices_versus_quantities,_and_the_safety_valve"><span id="Prices_versus_quantities.2C_and_the_safety_valve"></span>Prices versus quantities, and the safety valve</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Emissions_trading&action=edit&section=12" title="Edit section: Prices versus quantities, and the safety valve"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:Regional_Greenhouse_Gase_Initiative_(REGI)_allowance_clearing_price_in_September_2008_through_December_2021_(51840469964).png" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/5/58/Regional_Greenhouse_Gase_Initiative_%28REGI%29_allowance_clearing_price_in_September_2008_through_December_2021_%2851840469964%29.png/330px-Regional_Greenhouse_Gase_Initiative_%28REGI%29_allowance_clearing_price_in_September_2008_through_December_2021_%2851840469964%29.png" decoding="async" width="330" height="156" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/5/58/Regional_Greenhouse_Gase_Initiative_%28REGI%29_allowance_clearing_price_in_September_2008_through_December_2021_%2851840469964%29.png/495px-Regional_Greenhouse_Gase_Initiative_%28REGI%29_allowance_clearing_price_in_September_2008_through_December_2021_%2851840469964%29.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/5/58/Regional_Greenhouse_Gase_Initiative_%28REGI%29_allowance_clearing_price_in_September_2008_through_December_2021_%2851840469964%29.png/660px-Regional_Greenhouse_Gase_Initiative_%28REGI%29_allowance_clearing_price_in_September_2008_through_December_2021_%2851840469964%29.png 2x" data-file-width="1157" data-file-height="546" /></a><figcaption>Quarterly clearing price of an allowance to emit a ton of carbon dioxide in the US <a href="/wiki/Regional_Greenhouse_Gas_Initiative" title="Regional Greenhouse Gas Initiative">Regional Greenhouse Gas Initiative</a>, 2008–2021. The price of carbon emission has increased as the number of allowances issued has decreased.</figcaption></figure> <p>There has been longstanding debate on the relative merits of <i>price</i> versus <i>quantity</i> instruments to achieve emission reductions.<sup id="cite_ref-50" class="reference"><a href="#cite_note-50"><span class="cite-bracket">[</span>50<span class="cite-bracket">]</span></a></sup> </p><p>An emission cap and permit trading system is a <i>quantity</i> instrument because it fixes the overall emission level (quantity) and allows the price to vary. Uncertainty in future supply and demand conditions (market <a href="/wiki/Volatility_(finance)" title="Volatility (finance)">volatility</a>) coupled with a fixed number of pollution permits creates an uncertainty in the future price of pollution permits, and the industry must accordingly bear the cost of adapting to these volatile market conditions. The burden of a volatile market thus lies with the industry rather than the controlling agency, which is generally more efficient. However, under volatile market conditions, the ability of the controlling agency to alter the caps will translate into an ability to pick "winners and losers" and thus presents an opportunity for corruption. </p><p>In contrast, an <a href="/wiki/Carbon_tax" title="Carbon tax">emission tax</a> is a <i>price</i> instrument because it fixes the price while the emission level is allowed to vary according to economic activity. A major drawback of an emission tax is that the environmental outcome (e.g. a limit on the amount of emissions) is not guaranteed. On one hand, a tax will remove capital from the industry, suppressing possibly useful economic activity, but conversely, the polluter will not need to hedge as much against future uncertainty since the amount of tax will track with profits. The burden of a volatile market will be borne by the controlling (taxing) agency rather than the industry itself, which is generally less efficient. An advantage is that, given a uniform tax rate and a volatile market, the taxing entity will not be in a position to pick "winners and losers" and the opportunity for corruption will be less. </p><p>Assuming no corruption and assuming that the controlling agency and the industry are equally efficient at adapting to volatile market conditions, the best choice depends on the sensitivity of the costs of emission reduction, compared to the sensitivity of the benefits (i.e., climate damage avoided by a reduction) when the level of emission control is varied. </p><p>A third option, known as a <i>safety valve</i>, is a hybrid of the price and quantity instruments. The system is essentially an emission cap and permit trading system but the maximum (or minimum) permit price is capped. Emitters have the choice of either obtaining permits in the marketplace or buying them from the government at a specified trigger price (which could be adjusted over time). The system is sometimes recommended as a way of overcoming the fundamental disadvantages of both systems by giving governments the flexibility to adjust the system as new information comes to light. It can be shown that by setting the trigger price high enough, or the number of permits low enough, the safety valve can be used to mimic either a pure quantity or pure price mechanism.<sup id="cite_ref-51" class="reference"><a href="#cite_note-51"><span class="cite-bracket">[</span>51<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Comparison_with_other_methods_of_emission_reduction">Comparison with other methods of emission reduction</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Emissions_trading&action=edit&section=13" title="Edit section: Comparison with other methods of emission reduction"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Cap and trade is the textbook example of an <i>emissions trading program</i>. Other market-based approaches include <b>baseline-and-credit</b>, and <b>pollution tax</b>. They all put a price on pollution (for example, see <a href="/wiki/Carbon_price" title="Carbon price">carbon price</a>), and so provide an economic incentive to reduce pollution beginning with the lowest-cost opportunities. By contrast, in a command-and-control approach, a central authority designates pollution levels each facility is allowed to emit. Cap and trade essentially functions as a tax where the tax rate is variable based on the relative cost of abatement per unit, and the tax base is variable based on the amount of abatement needed.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (April 2018)">citation needed</span></a></i>]</sup> </p> <div class="mw-heading mw-heading3"><h3 id="Baseline_and_credit">Baseline and credit</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Emissions_trading&action=edit&section=14" title="Edit section: Baseline and credit"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In a baseline and credit program, polluters can create permits, called credits or offsets, by reducing their emissions below a baseline level, which is often the historical emissions level from a designated past year.<sup id="cite_ref-glossary_3-1" class="reference"><a href="#cite_note-glossary-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup> Such credits can be bought by polluters that have a regulatory limit.<sup id="cite_ref-EC_1_52-0" class="reference"><a href="#cite_note-EC_1-52"><span class="cite-bracket">[</span>52<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Pollution_tax">Pollution tax</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Emissions_trading&action=edit&section=15" title="Edit section: Pollution tax"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Ecotax" class="mw-redirect" title="Ecotax">Ecotax</a></div> <p>Emissions fees or environmental tax is a surcharge on the pollution created while producing goods and services.<sup id="cite_ref-rosengayer_53-0" class="reference"><a href="#cite_note-rosengayer-53"><span class="cite-bracket">[</span>53<span class="cite-bracket">]</span></a></sup> For example, a <a href="/wiki/Carbon_tax" title="Carbon tax">carbon tax</a> is a tax on the carbon content of <a href="/wiki/Fossil_fuels" class="mw-redirect" title="Fossil fuels">fossil fuels</a> that aims to discourage their use and thereby reduce carbon dioxide emissions.<sup id="cite_ref-glossary_3-2" class="reference"><a href="#cite_note-glossary-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup> The two approaches are overlapping sets of policy designs. Both can have a range of scopes, points of regulation, and price schedules. They can be fair or unfair, depending on how the revenue is used. Both have the effect of increasing the price of goods (such as fossil fuels) to consumers.<sup id="cite_ref-:0_54-0" class="reference"><a href="#cite_note-:0-54"><span class="cite-bracket">[</span>54<span class="cite-bracket">]</span></a></sup> A comprehensive, upstream, auctioned cap-and-trade system is very similar to a comprehensive, upstream carbon tax. Yet, many commentators sharply contrast the two approaches. </p><p>The main difference is what is defined and what derived. A tax is a price control, while a cap-and-trade system is a quantity control instrument.<sup id="cite_ref-:0_54-1" class="reference"><a href="#cite_note-:0-54"><span class="cite-bracket">[</span>54<span class="cite-bracket">]</span></a></sup> That is, a tax is a unit price for pollution that is set by authorities, and the market determines the quantity emitted; in cap and trade, authorities determine the amount of pollution, and the market determines the price.<sup id="cite_ref-55" class="reference"><a href="#cite_note-55"><span class="cite-bracket">[</span>55<span class="cite-bracket">]</span></a></sup> This difference affects a number of criteria.<sup id="cite_ref-rosengayer_53-1" class="reference"><a href="#cite_note-rosengayer-53"><span class="cite-bracket">[</span>53<span class="cite-bracket">]</span></a></sup> </p><p><b>Responsiveness to inflation:</b> Cap-and-trade has the advantage that it adjusts to <a href="/wiki/Inflation" title="Inflation">inflation</a> (changes to overall prices) automatically, while emissions fees must be changed by regulators. </p><p><b>Responsiveness to cost changes:</b> It is not clear which approach is better. It is possible to combine the two into a safety valve price: a price set by regulators, at which polluters can buy additional permits beyond the cap. </p><p><b>Responsiveness to recessions:</b> This point is closely related to responsiveness to cost changes, because recessions cause a drop in demand. Under cap and trade, the emissions cost automatically decreases, so a cap-and-trade scheme adds another <a href="/wiki/Automatic_stabilizer" title="Automatic stabilizer">automatic stabilizer</a> to the economy—in effect, an automatic fiscal stimulus. However, a lower pollution price also results in reduced efforts to reduce pollution. If the government is able to stimulate the economy regardless of the cap-and-trade scheme, an excessively low price causes a missed opportunity to cut emissions faster than planned. Instead, it might be better to have a price floor (a tax). This is especially true when cutting pollution is urgent, as with greenhouse gas emissions. A price floor also provides certainty and stability for investment in emissions reductions: recent experience from the UK shows that nuclear power operators are reluctant to invest on "un-subsidised" terms unless there is a guaranteed price floor for carbon (which the EU emissions trading scheme does not presently provide). </p><p><b>Responsiveness to uncertainty:</b> As with cost changes, in a world of uncertainty, it is not clear whether emissions fees or cap-and-trade systems are more efficient—it depends on how fast the marginal social benefits of reducing pollution fall with the amount of cleanup (e.g., whether inelastic or elastic marginal social benefit schedule). </p><p><b>Other:</b> The magnitude of the tax will depend on how sensitive the supply of emissions is to the price. The permit price of cap-and-trade will depend on the pollutant market. A tax generates government revenue, but full-auctioned emissions permits can do the same. A similar upstream cap-and-trade system could be implemented. An upstream carbon tax might be the simplest to administer. Setting up a complex cap-and-trade arrangement that is comprehensive has high institutional needs.<sup id="cite_ref-56" class="reference"><a href="#cite_note-56"><span class="cite-bracket">[</span>56<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Command-and-control_regulation">Command-and-control regulation</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Emissions_trading&action=edit&section=16" title="Edit section: Command-and-control regulation"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Command and control is a system of regulation that prescribes emission limits and compliance methods for each facility or source. It is the traditional approach to reducing air pollution.<sup id="cite_ref-glossary_3-3" class="reference"><a href="#cite_note-glossary-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup> </p><p>Command-and-control regulations are more rigid than incentive-based approaches such as pollution fees and cap and trade. An example of this is a performance standard which sets an emissions goal for each polluter that is fixed and, therefore, the burden of reducing pollution cannot be shifted to the firms that can achieve it more cheaply. As a result, performance standards are likely to be more costly overall.<sup id="cite_ref-rosengayer_53-2" class="reference"><a href="#cite_note-rosengayer-53"><span class="cite-bracket">[</span>53<span class="cite-bracket">]</span></a></sup> The additional costs would be passed to end consumers.<sup id="cite_ref-57" class="reference"><a href="#cite_note-57"><span class="cite-bracket">[</span>57<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Trading_systems">Trading systems</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Emissions_trading&action=edit&section=17" title="Edit section: Trading systems"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Apart from the dynamic development in <a href="/wiki/Carbon_emission_trading" title="Carbon emission trading">carbon emission trading</a>, other pollutants have also been targeted. </p> <div class="mw-heading mw-heading3"><h3 id="United_States">United States</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Emissions_trading&action=edit&section=18" title="Edit section: United States"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <div class="mw-heading mw-heading4"><h4 id="Sulfur_dioxide">Sulfur dioxide</h4><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Emissions_trading&action=edit&section=19" title="Edit section: Sulfur dioxide"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Acid_Rain_Program" title="Acid Rain Program">Acid Rain Program</a></div> <p>An early example of an emission trading system has been the <a href="/wiki/Sulfur_dioxide" title="Sulfur dioxide">sulfur dioxide</a> (SO<sub>2</sub>) trading system under the framework of the <a href="/wiki/Acid_Rain_Program" title="Acid Rain Program">Acid Rain Program</a> of the 1990 <a href="/wiki/Clean_Air_Act_(1990)" class="mw-redirect" title="Clean Air Act (1990)">Clean Air Act</a> in the U.S. Under the program, which is essentially a cap-and-trade emissions trading system, SO<sub>2</sub> emissions were reduced by 50% from 1980 levels by 2007.<sup id="cite_ref-58" class="reference"><a href="#cite_note-58"><span class="cite-bracket">[</span>58<span class="cite-bracket">]</span></a></sup> Some experts argue that the cap-and-trade system of SO<sub>2</sub> emissions reduction has reduced the cost of controlling acid rain by as much as 80% versus source-by-source reduction.<sup id="cite_ref-stavins98_43-1" class="reference"><a href="#cite_note-stavins98-43"><span class="cite-bracket">[</span>43<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-59" class="reference"><a href="#cite_note-59"><span class="cite-bracket">[</span>59<span class="cite-bracket">]</span></a></sup> The SO<sub>2</sub> program was challenged in 2004, which set in motion a series of events that led to the 2011 <a href="/wiki/Cross-State_Air_Pollution_Rule" title="Cross-State Air Pollution Rule">Cross-State Air Pollution Rule</a> (CSAPR). Under the CSAPR, the national SO<sub>2</sub> trading program was replaced by four separate trading groups for SO<sub>2</sub> and NO<sub>x</sub>.<sup id="cite_ref-60" class="reference"><a href="#cite_note-60"><span class="cite-bracket">[</span>60<span class="cite-bracket">]</span></a></sup> SO<sub>2</sub> emissions from Acid Rain Program sources have fallen from 17.3 million tons in 1980 to about 7.6 million tons in 2008, a decrease in emissions of 56 percent. A 2014 EPA analysis estimated that implementation of the Acid Rain Program avoided between 20,000 and 50,000 incidences of premature mortality annually due to reductions of ambient PM2.5 concentrations, and between 430 and 2,000 incidences annually due to reductions of ground-level ozone.<sup id="cite_ref-ex_61-0" class="reference"><a href="#cite_note-ex-61"><span class="cite-bracket">[</span>61<span class="cite-bracket">]</span></a></sup><sup class="noprint Inline-Template" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Verifiability" title="Wikipedia:Verifiability"><span title="The material near this tag failed verification of its source citation(s). (June 2017)">failed verification</span></a></i>]</sup> </p> <div class="mw-heading mw-heading4"><h4 id="Nitrogen_oxides">Nitrogen oxides</h4><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Emissions_trading&action=edit&section=20" title="Edit section: Nitrogen oxides"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In 2003, the Environmental Protection Agency (EPA) began to administer the <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1123817410"><span class="chemf nowrap">NO<sub class="template-chem2-sub"><i>x</i></sub></span> Budget Trading Program (NBP) under the <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1123817410"><span class="chemf nowrap">NO<sub class="template-chem2-sub"><i>x</i></sub></span> State Implementation Plan (also known as the "NOx SIP Call"). The <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1123817410"><span class="chemf nowrap">NO<sub class="template-chem2-sub"><i>x</i></sub></span> Budget Trading Program was a market-based cap and trade program created to reduce emissions of nitrogen oxides (NO<sub>x</sub>) from power plants and other large combustion sources in the eastern United States. NO<sub>x</sub> is a prime ingredient in the formation of ground-level ozone (<a href="/wiki/Smog" title="Smog">smog</a>), a pervasive air pollution problem in many areas of the eastern United States. The NBP was designed to reduce NO<sub>x</sub> emissions during the warm summer months, referred to as the ozone season, when ground-level ozone concentrations are highest.<sup id="cite_ref-62" class="reference"><a href="#cite_note-62"><span class="cite-bracket">[</span>62<span class="cite-bracket">]</span></a></sup> In March 2008, EPA again strengthened the 8-hour ozone standard to 0.075 parts per million (ppm) from its previous 0.08 ppm.<sup id="cite_ref-63" class="reference"><a href="#cite_note-63"><span class="cite-bracket">[</span>63<span class="cite-bracket">]</span></a></sup> </p><p>Ozone season <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1123817410"><span class="chemf nowrap">NO<sub class="template-chem2-sub"><i>x</i></sub></span> emissions decreased by 43 percent between 2003 and 2008, even while energy demand remained essentially flat during the same period. CAIR will result in $85 billion to $100 billion in health benefits and nearly $2 billion in visibility benefits per year by 2015 and will substantially reduce premature mortality in the eastern United States.<sup id="cite_ref-64" class="reference"><a href="#cite_note-64"><span class="cite-bracket">[</span>64<span class="cite-bracket">]</span></a></sup> NOx reductions due to the <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1123817410"><span class="chemf nowrap">NO<sub class="template-chem2-sub"><i>x</i></sub></span> Budget Trading Program have led to improvements in ozone and PM2.5, saving an estimated 580 to 1,800 lives in 2008.<sup id="cite_ref-ex_61-1" class="reference"><a href="#cite_note-ex-61"><span class="cite-bracket">[</span>61<span class="cite-bracket">]</span></a></sup><sup class="noprint Inline-Template" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Verifiability" title="Wikipedia:Verifiability"><span title="The material near this tag failed verification of its source citation(s). (June 2017)">failed verification</span></a></i>]</sup> </p><p>A 2017 study in the <i><a href="/wiki/The_American_Economic_Review" class="mw-redirect" title="The American Economic Review">American Economic Review</a></i> found that the <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1123817410"><span class="chemf nowrap">NO<sub class="template-chem2-sub"><i>x</i></sub></span> Budget Trading Program decreased <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1123817410"><span class="chemf nowrap">NO<sub class="template-chem2-sub"><i>x</i></sub></span> emissions and ambient ozone concentrations.<sup id="cite_ref-:2_65-0" class="reference"><a href="#cite_note-:2-65"><span class="cite-bracket">[</span>65<span class="cite-bracket">]</span></a></sup> The program reduced expenditures on medicine by about 1.5% ($800 million annually) and reduced the mortality rate by up to 0.5% (2,200 fewer premature deaths, mainly among individuals 75 and older).<sup id="cite_ref-:2_65-1" class="reference"><a href="#cite_note-:2-65"><span class="cite-bracket">[</span>65<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading4"><h4 id="Volatile_organic_compounds">Volatile organic compounds</h4><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Emissions_trading&action=edit&section=21" title="Edit section: Volatile organic compounds"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <figure typeof="mw:File/Thumb"><a href="/wiki/File:Classification_List_of_Organic_Pollutants.png" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/c/cc/Classification_List_of_Organic_Pollutants.png/276px-Classification_List_of_Organic_Pollutants.png" decoding="async" width="276" height="182" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/c/cc/Classification_List_of_Organic_Pollutants.png/414px-Classification_List_of_Organic_Pollutants.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/c/cc/Classification_List_of_Organic_Pollutants.png/552px-Classification_List_of_Organic_Pollutants.png 2x" data-file-width="618" data-file-height="408" /></a><figcaption>Classification of Organic Pollutants</figcaption></figure> <p>In the United States the <a href="/wiki/United_States_Environmental_Protection_Agency" title="United States Environmental Protection Agency">Environmental Protection Agency</a> (EPA) classifies <a href="/wiki/Volatile_organic_compound" title="Volatile organic compound">Volatile Organic Compounds</a> (VOCs) as gases emitted from certain solids and liquids that may have adverse health effects.<sup id="cite_ref-EPA,_OAR,_ORIA,_IED_66-0" class="reference"><a href="#cite_note-EPA,_OAR,_ORIA,_IED-66"><span class="cite-bracket">[</span>66<span class="cite-bracket">]</span></a></sup> These VOCs include a variety of chemicals that are emitted from a variety of different products.<sup id="cite_ref-EPA,_OAR,_ORIA,_IED_66-1" class="reference"><a href="#cite_note-EPA,_OAR,_ORIA,_IED-66"><span class="cite-bracket">[</span>66<span class="cite-bracket">]</span></a></sup> These include products such as gasoline, perfumes, hair spray, fabric cleaners, PVC, and refrigerants; all of which can contain chemicals such as benzene, acetone, methylene chloride, freons, formaldehyde.<sup id="cite_ref-67" class="reference"><a href="#cite_note-67"><span class="cite-bracket">[</span>67<span class="cite-bracket">]</span></a></sup> </p><p>VOCs are also monitored by the <a href="/wiki/United_States_Geological_Survey" title="United States Geological Survey">United States Geological Survey</a> for its presence in groundwater supply.<sup id="cite_ref-Synthesis_68-0" class="reference"><a href="#cite_note-Synthesis-68"><span class="cite-bracket">[</span>68<span class="cite-bracket">]</span></a></sup> The USGS concluded that many of the nations aquifers are at risk to low-level VOC contamination.<sup id="cite_ref-Synthesis_68-1" class="reference"><a href="#cite_note-Synthesis-68"><span class="cite-bracket">[</span>68<span class="cite-bracket">]</span></a></sup> The common symptoms of short levels of exposure to VOCs include headaches, nausea, and eye irritation.<sup id="cite_ref-health.state.mn.us_69-0" class="reference"><a href="#cite_note-health.state.mn.us-69"><span class="cite-bracket">[</span>69<span class="cite-bracket">]</span></a></sup> If exposed for an extended period of time the symptoms include cancer and damage to the central nervous system.<sup id="cite_ref-health.state.mn.us_69-1" class="reference"><a href="#cite_note-health.state.mn.us-69"><span class="cite-bracket">[</span>69<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="China">China</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Emissions_trading&action=edit&section=22" title="Edit section: China"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In an effort to reverse the adverse consequences of air pollution, in 2006, China started to consider a national pollution permit trading system in order to use market-based mechanisms to incentivize companies to cut pollution.<sup id="cite_ref-70" class="reference"><a href="#cite_note-70"><span class="cite-bracket">[</span>70<span class="cite-bracket">]</span></a></sup> This has been based on a previous pilot project called the Industrial <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1123817410"><span class="chemf nowrap">SO<sub class="template-chem2-sub">2</sub></span> emission trading pilot scheme, which was launched in 2002. Four provinces, three municipalities and one <a href="/wiki/State-owned_enterprises_of_China" title="State-owned enterprises of China">state-owned enterprise</a> were involved in this pilot project (also known as the 4+3+1 project).<sup id="cite_ref-:92_71-0" class="reference"><a href="#cite_note-:92-71"><span class="cite-bracket">[</span>71<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page: 80">: 80 </span></sup> They are Shandong, Shanxi, Jiangsu, Henan, Shanghai, Tianjin, Liuzhou and <a href="/wiki/China_Huaneng_Group" title="China Huaneng Group">China Huaneng Group</a>, a state-owned company in the power industry.<sup id="cite_ref-:4_72-0" class="reference"><a href="#cite_note-:4-72"><span class="cite-bracket">[</span>72<span class="cite-bracket">]</span></a></sup> </p><p>In 2014, when the Chinese government started considering a national level pollution permit trading system again, there were more than 20 local pollution permit trading platforms. The Yangtze River Delta region as a whole has also run test trading, but the scale was limited.<sup id="cite_ref-:5_73-0" class="reference"><a href="#cite_note-:5-73"><span class="cite-bracket">[</span>73<span class="cite-bracket">]</span></a></sup> In the same year, the Chinese government proposed establishing a carbon market, focused on CO<sub>2</sub> reduction later in the decade, and it is a separate system from the pollution permit trading.<sup id="cite_ref-:5_73-1" class="reference"><a href="#cite_note-:5-73"><span class="cite-bracket">[</span>73<span class="cite-bracket">]</span></a></sup> </p><p>Following these regional efforts, China established <a href="/wiki/Chinese_national_carbon_trading_scheme" title="Chinese national carbon trading scheme">its national Emissions Trading System</a> in 2017.<sup id="cite_ref-:32_74-0" class="reference"><a href="#cite_note-:32-74"><span class="cite-bracket">[</span>74<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page: 28">: 28 </span></sup> </p><p>A 2021 study in <i>PNAS</i> found that China's emissions trading system effectively reduced firm emissions despite low carbon prices and infrequent trading. The system reduced total emissions by 16.7% and <a href="/wiki/Emission_intensity" title="Emission intensity">emission intensity</a> by 9.7%.<sup id="cite_ref-75" class="reference"><a href="#cite_note-75"><span class="cite-bracket">[</span>75<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Linked_trading_systems">Linked trading systems</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Emissions_trading&action=edit&section=23" title="Edit section: Linked trading systems"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Distinct cap-and-trade systems can be linked together through the mutual or unilateral recognition of emissions allowances for compliance. Linking systems creates a larger carbon market, which can reduce overall compliance costs, increase market liquidity and generate a more stable carbon market.<sup id="cite_ref-76" class="reference"><a href="#cite_note-76"><span class="cite-bracket">[</span>76<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-77" class="reference"><a href="#cite_note-77"><span class="cite-bracket">[</span>77<span class="cite-bracket">]</span></a></sup> Linking systems can also be politically symbolic as it shows willingness to undertake a common effort to reduce GHG emissions.<sup id="cite_ref-78" class="reference"><a href="#cite_note-78"><span class="cite-bracket">[</span>78<span class="cite-bracket">]</span></a></sup> Some scholars have argued that linking may provide a starting point for developing a new, bottom-up international climate policy architecture, whereby multiple unique systems successively link their various systems.<sup id="cite_ref-79" class="reference"><a href="#cite_note-79"><span class="cite-bracket">[</span>79<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-80" class="reference"><a href="#cite_note-80"><span class="cite-bracket">[</span>80<span class="cite-bracket">]</span></a></sup> </p><p>In 2014, the U.S. state of California (which is the world's fifth largest economy if it were a nation, between Germany and the United Kingdom in size) and the Canadian province of Québec successfully linked their systems. In 2015, the provinces of Ontario and Manitoba agreed to join the linked system between Quebec and California.<sup id="cite_ref-81" class="reference"><a href="#cite_note-81"><span class="cite-bracket">[</span>81<span class="cite-bracket">]</span></a></sup> On 22 September 2017, the <a href="/wiki/Premier_(Canada)" title="Premier (Canada)">premiers</a> of Quebec and Ontario, and the <a href="/wiki/Governor_of_California" title="Governor of California">Governor of California</a>, signed the formal agreement establishing the linkage.<sup id="cite_ref-82" class="reference"><a href="#cite_note-82"><span class="cite-bracket">[</span>82<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Renewable_energy_certificates">Renewable energy certificates</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Emissions_trading&action=edit&section=24" title="Edit section: Renewable energy certificates"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Renewable_Energy_Certificates" class="mw-redirect" title="Renewable Energy Certificates">Renewable Energy Certificates</a></div> <p><a href="/wiki/Renewable_Energy_Certificates" class="mw-redirect" title="Renewable Energy Certificates">Renewable Energy Certificates</a> (occasionally referred to as or "green tags"), are a largely unrelated form of market-based instruments that are used to achieve renewable energy targets, which may be environmentally motivated (like emissions reduction targets), but may also be motivated by other aims, such as energy security or industrial policy. </p> <div class="mw-heading mw-heading2"><h2 id="Criticism">Criticism</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Emissions_trading&action=edit&section=25" title="Edit section: Criticism"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">See also: <a href="/wiki/Carbon_emissions_trading#Criticism" class="mw-redirect" title="Carbon emissions trading">Carbon emissions trading § Criticism</a></div> <div class="mw-heading mw-heading3"><h3 id="Distributional_effects">Distributional effects</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Emissions_trading&action=edit&section=26" title="Edit section: Distributional effects"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The US <a href="/wiki/Congressional_Budget_Office" title="Congressional Budget Office">Congressional Budget Office</a> (CBO, 2009) examined the potential effects of the <a href="/wiki/American_Clean_Energy_and_Security_Act" title="American Clean Energy and Security Act">American Clean Energy and Security Act</a> on US households.<sup id="cite_ref-83" class="reference"><a href="#cite_note-83"><span class="cite-bracket">[</span>83<span class="cite-bracket">]</span></a></sup> This act relies heavily on the free allocation of permits. The Bill was found to protect low-income consumers, but it was recommended that the Bill be made more efficient by reducing welfare provisions for corporations, and that more resources be made available for consumer relief. A cap-and-trade initiative in the U.S. Northeast caused concerns it would be regressive and poorer households would absorb most of the new tax.<sup id="cite_ref-84" class="reference"><a href="#cite_note-84"><span class="cite-bracket">[</span>84<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Effectiveness">Effectiveness</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Emissions_trading&action=edit&section=27" title="Edit section: Effectiveness"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1251242444"><table class="box-Expand_section plainlinks metadata ambox mbox-small-left ambox-content" role="presentation"><tbody><tr><td class="mbox-image"><span typeof="mw:File"><a href="/wiki/File:Wiki_letter_w_cropped.svg" class="mw-file-description"><img alt="[icon]" src="//upload.wikimedia.org/wikipedia/commons/thumb/1/1c/Wiki_letter_w_cropped.svg/20px-Wiki_letter_w_cropped.svg.png" decoding="async" width="20" height="14" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/1/1c/Wiki_letter_w_cropped.svg/30px-Wiki_letter_w_cropped.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/1/1c/Wiki_letter_w_cropped.svg/40px-Wiki_letter_w_cropped.svg.png 2x" data-file-width="44" data-file-height="31" /></a></span></td><td class="mbox-text"><div class="mbox-text-span">This section <b>needs expansion</b>. You can help by <a class="external text" href="https://en.wikipedia.org/w/index.php?title=Emissions_trading&action=edit&section=">adding to it</a>. <span class="date-container"><i>(<span class="date">November 2023</span>)</i></span></div></td></tr></tbody></table> <p>Faure and Peeters cautiously endorse the effectiveness of emissions trading in practice: "Notably for the greenhouse gas emissions problem, emissions trading seems to be very much suited to reaching the necessary reductions in a cost-effective way."<sup id="cite_ref-85" class="reference"><a href="#cite_note-85"><span class="cite-bracket">[</span>85<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="See_also">See also</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Emissions_trading&action=edit&section=28" title="Edit section: See also"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style 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title="Acid Rain Retirement Fund">Acid Rain Retirement Fund</a></li> <li><a href="/wiki/AP_42_Compilation_of_Air_Pollutant_Emission_Factors" title="AP 42 Compilation of Air Pollutant Emission Factors">AP 42 Compilation of Air Pollutant Emission Factors</a></li> <li><a href="/wiki/Asia-Pacific_Emissions_Trading_Forum" title="Asia-Pacific Emissions Trading Forum">Asia-Pacific Emissions Trading Forum</a></li> <li><a href="/wiki/Emission_standard" title="Emission standard">Emission standard</a></li> <li><a href="/wiki/Green_certificate" title="Green certificate">Green certificate</a></li> <li><a href="/wiki/Green_investment_scheme" class="mw-redirect" title="Green investment scheme">Green investment scheme</a></li> <li><a href="/wiki/Mobile_emission_reduction_credit" title="Mobile emission reduction credit">Mobile emission reduction credit</a> (MERC)</li></ul> </div> <div class="mw-heading mw-heading2"><h2 id="References">References</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Emissions_trading&action=edit&section=29" title="Edit section: References"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist"> <div class="mw-references-wrap mw-references-columns"><ol class="references"> <li id="cite_note-stavins01-1"><span class="mw-cite-backlink">^ <a href="#cite_ref-stavins01_1-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-stavins01_1-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><style data-mw-deduplicate="TemplateStyles:r1238218222">.mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free.id-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited.id-lock-limited 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Seattle: <a href="/wiki/University_of_Washington_Press" title="University of Washington Press">University of Washington Press</a>. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-295-74791-0" title="Special:BookSources/978-0-295-74791-0"><bdi>978-0-295-74791-0</bdi></a>. <a href="/wiki/JSTOR_(identifier)" class="mw-redirect" title="JSTOR (identifier)">JSTOR</a> <a rel="nofollow" class="external text" href="https://www.jstor.org/stable/j.ctv19rs1b2">j.ctv19rs1b2</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=Pollution+Emissions+Trading+in+China&rft.btitle=Greening+East+Asia%3A+The+Rise+of+the+Eco-Developmental+State&rft.place=Seattle&rft.pub=University+of+Washington+Press&rft.date=2020&rft_id=https%3A%2F%2Fwww.jstor.org%2Fstable%2Fj.ctv19rs1b2%23id-name%3DJSTOR&rft.isbn=978-0-295-74791-0&rft.aulast=Ding&rft.aufirst=Iza&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEmissions+trading" class="Z3988"></span></span> </li> <li id="cite_note-:4-72"><span class="mw-cite-backlink"><b><a href="#cite_ref-:4_72-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFTuShen2014" class="citation journal cs1">Tu, Zhengge; Shen, Renjun (2014). <a rel="nofollow" class="external text" href="https://doi.org/10.3390%2Fsu6117621">"Can China's Industrial SO<sub>2</sub> Emissions Trading Pilot Scheme Reduce Pollution Abatement Costs?"</a>. <i>Sustainability</i>. <b>6</b> (11): 7621–7645. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<span class="id-lock-free" title="Freely accessible"><a rel="nofollow" class="external text" href="https://doi.org/10.3390%2Fsu6117621">10.3390/su6117621</a></span>. <a href="/wiki/S2CID_(identifier)" class="mw-redirect" title="S2CID (identifier)">S2CID</a> <a rel="nofollow" class="external text" href="https://api.semanticscholar.org/CorpusID:17764664">17764664</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Sustainability&rft.atitle=Can+China%27s+Industrial+SO%3Csub%3E2%3C%2Fsub%3E+Emissions+Trading+Pilot+Scheme+Reduce+Pollution+Abatement+Costs%3F&rft.volume=6&rft.issue=11&rft.pages=7621-7645&rft.date=2014&rft_id=info%3Adoi%2F10.3390%2Fsu6117621&rft_id=https%3A%2F%2Fapi.semanticscholar.org%2FCorpusID%3A17764664%23id-name%3DS2CID&rft.aulast=Tu&rft.aufirst=Zhengge&rft.au=Shen%2C+Renjun&rft_id=https%3A%2F%2Fdoi.org%2F10.3390%252Fsu6117621&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEmissions+trading" class="Z3988"></span></span> </li> <li id="cite_note-:5-73"><span class="mw-cite-backlink">^ <a href="#cite_ref-:5_73-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-:5_73-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://www.under2coalition.org/what-we-do/news-and-blogs/china-considers-national-pollution-permit-trading">"China considers national pollution permit trading"</a>. <i>Under2 Coalition</i>. 2014-01-14. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180908130457/https://www.under2coalition.org/what-we-do/news-and-blogs/china-considers-national-pollution-permit-trading">Archived</a> from the original on 2018-09-08<span class="reference-accessdate">. Retrieved <span class="nowrap">2018-09-08</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Under2+Coalition&rft.atitle=China+considers+national+pollution+permit+trading&rft.date=2014-01-14&rft_id=https%3A%2F%2Fwww.under2coalition.org%2Fwhat-we-do%2Fnews-and-blogs%2Fchina-considers-national-pollution-permit-trading&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEmissions+trading" class="Z3988"></span></span> </li> <li id="cite_note-:32-74"><span class="mw-cite-backlink"><b><a href="#cite_ref-:32_74-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFLewis2023" class="citation book cs1">Lewis, Joanna I. (2023). <i>Cooperating for the Climate: Learning from International Partnerships in China's Clean Energy Sector</i>. Cambridge, Massachusetts: The <a href="/wiki/MIT_Press" title="MIT Press">MIT Press</a>. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-262-54482-5" title="Special:BookSources/978-0-262-54482-5"><bdi>978-0-262-54482-5</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Cooperating+for+the+Climate%3A+Learning+from+International+Partnerships+in+China%27s+Clean+Energy+Sector&rft.place=Cambridge%2C+Massachusetts&rft.pub=The+MIT+Press&rft.date=2023&rft.isbn=978-0-262-54482-5&rft.aulast=Lewis&rft.aufirst=Joanna+I.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEmissions+trading" class="Z3988"></span></span> </li> <li id="cite_note-75"><span class="mw-cite-backlink"><b><a href="#cite_ref-75">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFCuiWangZhangZheng2021" class="citation journal cs1">Cui, Jingbo; Wang, Chunhua; Zhang, Junjie; Zheng, Yang (2021-12-28). <a rel="nofollow" class="external text" href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8719898">"The effectiveness of China's regional carbon market pilots in reducing firm emissions"</a>. <i>Proceedings of the National Academy of Sciences</i>. <b>118</b> (52). <a href="/wiki/Bibcode_(identifier)" class="mw-redirect" title="Bibcode (identifier)">Bibcode</a>:<a rel="nofollow" class="external text" href="https://ui.adsabs.harvard.edu/abs/2021PNAS..11809912C">2021PNAS..11809912C</a>. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<span class="id-lock-free" title="Freely accessible"><a rel="nofollow" class="external text" href="https://doi.org/10.1073%2Fpnas.2109912118">10.1073/pnas.2109912118</a></span>. <a href="/wiki/ISSN_(identifier)" class="mw-redirect" title="ISSN (identifier)">ISSN</a> <a rel="nofollow" class="external text" href="https://search.worldcat.org/issn/0027-8424">0027-8424</a>. <a href="/wiki/PMC_(identifier)" class="mw-redirect" title="PMC (identifier)">PMC</a> <span class="id-lock-free" title="Freely accessible"><a rel="nofollow" class="external text" href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8719898">8719898</a></span>. <a href="/wiki/PMID_(identifier)" class="mw-redirect" title="PMID (identifier)">PMID</a> <a rel="nofollow" class="external text" href="https://pubmed.ncbi.nlm.nih.gov/34930839">34930839</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Proceedings+of+the+National+Academy+of+Sciences&rft.atitle=The+effectiveness+of+China%27s+regional+carbon+market+pilots+in+reducing+firm+emissions&rft.volume=118&rft.issue=52&rft.date=2021-12-28&rft_id=https%3A%2F%2Fwww.ncbi.nlm.nih.gov%2Fpmc%2Farticles%2FPMC8719898%23id-name%3DPMC&rft_id=info%3Abibcode%2F2021PNAS..11809912C&rft_id=info%3Apmid%2F34930839&rft_id=info%3Adoi%2F10.1073%2Fpnas.2109912118&rft.issn=0027-8424&rft.aulast=Cui&rft.aufirst=Jingbo&rft.au=Wang%2C+Chunhua&rft.au=Zhang%2C+Junjie&rft.au=Zheng%2C+Yang&rft_id=https%3A%2F%2Fwww.ncbi.nlm.nih.gov%2Fpmc%2Farticles%2FPMC8719898&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEmissions+trading" class="Z3988"></span></span> </li> <li id="cite_note-76"><span class="mw-cite-backlink"><b><a href="#cite_ref-76">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external text" href="https://icapcarbonaction.com/index.php?option=com_attach&task=download&id=241">"Linking Emissions Trading Systems: A Summary of Current Research"</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20211120185930/https://icapcarbonaction.com/en/?option=com_attach&task=download&id=241">Archived</a> 2021-11-20 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a>, ICAP 2015.</span> </li> <li id="cite_note-77"><span class="mw-cite-backlink"><b><a href="#cite_ref-77">^</a></b></span> <span class="reference-text">Burtraw, D., Palmer, K. L., Munnings, C., Weber, P., & Woerman, M., 2013: Linking by Degrees: Incremental Alignment of Cap-and-Trade Markets. SSRN Electronic Journal. <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.2139%2Fssrn.2249955">10.2139/ssrn.2249955</a></span> </li> <li id="cite_note-78"><span class="mw-cite-backlink"><b><a href="#cite_ref-78">^</a></b></span> <span class="reference-text">Flachsland, C., Marschinski, R., & Edenhofer, O., 2009: To link or not to link: benefits and disadvantages of linking cap-and-trade systems. Climate Policy, 9(4), 358–372. <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.3763%2Fcpol.2009.0626">10.3763/cpol.2009.0626</a></span> </li> <li id="cite_note-79"><span class="mw-cite-backlink"><b><a href="#cite_ref-79">^</a></b></span> <span class="reference-text">Ranson, M., & Stavins, R., 2013: Linkage of Greenhouse Gas Emissions Trading Systems - Learning from Experience. Discussion Paper Resources For The Future, No. 42</span> </li> <li id="cite_note-80"><span class="mw-cite-backlink"><b><a href="#cite_ref-80">^</a></b></span> <span class="reference-text">The House of Commons Energy and Climate Committee, 2015: Linking emissions trading systems. London.</span> </li> <li id="cite_note-81"><span class="mw-cite-backlink"><b><a href="#cite_ref-81">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external text" href="http://www.cbc.ca/news/canada/montreal/quebec-ontario-manitoba-cap-and-trade-1.3354002">"Quebec, Ontario, Manitoba sign agreement to link cap-and-trade systems"</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20160629143555/http://www.cbc.ca/news/canada/montreal/quebec-ontario-manitoba-cap-and-trade-1.3354002">Archived</a> 2016-06-29 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a>, CBC News, 7 December 2015.</span> </li> <li id="cite_note-82"><span class="mw-cite-backlink"><b><a href="#cite_ref-82">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.arb.ca.gov/cc/capandtrade/linkage/2017_linkage_agreement_ca-qc-on.pdf">"California-Ontario-Québec Agreement on the Harmonization and Integration of their Cap-and-Trade Programs"</a> <span class="cs1-format">(PDF)</span>. <i>California Air Resources Board</i>. <a href="/wiki/Government_of_California" title="Government of California">Government of California</a>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20171114145218/https://www.arb.ca.gov/cc/capandtrade/linkage/2017_linkage_agreement_ca-qc-on.pdf">Archived</a> <span class="cs1-format">(PDF)</span> from the original on 14 November 2017<span class="reference-accessdate">. Retrieved <span class="nowrap">14 November</span> 2017</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=California+Air+Resources+Board&rft.atitle=California-Ontario-Qu%C3%A9bec+Agreement+on+the+Harmonization+and+Integration+of+their+Cap-and-Trade+Programs&rft_id=https%3A%2F%2Fwww.arb.ca.gov%2Fcc%2Fcapandtrade%2Flinkage%2F2017_linkage_agreement_ca-qc-on.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEmissions+trading" class="Z3988"></span></span> </li> <li id="cite_note-83"><span class="mw-cite-backlink"><b><a href="#cite_ref-83">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFStoneShaw2009" class="citation web cs1">Stone, Chad; Shaw, Hannah (2009-07-10). <a rel="nofollow" class="external text" href="http://www.cbpp.org/files/7-10-09climate.pdf">"Senate can strengthen climate legislation by reducing corporate welfare and boosting true consumer relief"</a> <span class="cs1-format">(PDF)</span>. Centre for Budget and Policy Priorities. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20091024212239/http://www.cbpp.org/files/7-10-09climate.pdf">Archived</a> <span class="cs1-format">(PDF)</span> from the original on 2009-10-24<span class="reference-accessdate">. Retrieved <span class="nowrap">2010-01-27</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Senate+can+strengthen+climate+legislation+by+reducing+corporate+welfare+and+boosting+true+consumer+relief&rft.pub=Centre+for+Budget+and+Policy+Priorities&rft.date=2009-07-10&rft.aulast=Stone&rft.aufirst=Chad&rft.au=Shaw%2C+Hannah&rft_id=http%3A%2F%2Fwww.cbpp.org%2Ffiles%2F7-10-09climate.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEmissions+trading" class="Z3988"></span></span> </li> <li id="cite_note-84"><span class="mw-cite-backlink"><b><a href="#cite_ref-84">^</a></b></span> <span class="reference-text"> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://ctmirror.org/2021/11/17/rising-gas-prices-arent-the-only-obstacle-blocking-ct-transportation-climate-initiative/">"Rising gas prices are fueling opposition to Transportation Climate Initiative"</a>. 17 November 2021.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Rising+gas+prices+are+fueling+opposition+to+Transportation+Climate+Initiative&rft.date=2021-11-17&rft_id=https%3A%2F%2Fctmirror.org%2F2021%2F11%2F17%2Frising-gas-prices-arent-the-only-obstacle-blocking-ct-transportation-climate-initiative%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEmissions+trading" class="Z3988"></span></span> </li> <li id="cite_note-85"><span class="mw-cite-backlink"><b><a href="#cite_ref-85">^</a></b></span> <span class="reference-text"> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFFaurePeeters2008" class="citation book cs1">Faure, Michael G.; Peeters, Marjan (2008). "Introduction". In Faure, Michael G.; Peeters, Marjan (eds.). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=hqN99l5q3A8C"><i>Climate Change and European Emissions Trading: Lessons for Theory and Practice</i></a>. New horizons in environmental law series. Cheltenham: Edward Elgar Publishing. p. 3. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/9781848446038" title="Special:BookSources/9781848446038"><bdi>9781848446038</bdi></a><span class="reference-accessdate">. Retrieved <span class="nowrap">30 November</span> 2023</span>. <q>Notably for the greenhouse gas emissions problem, emissions trading seems to be very much suited to reaching the necessary reductions in a cost-effective way.</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=Introduction&rft.btitle=Climate+Change+and+European+Emissions+Trading%3A+Lessons+for+Theory+and+Practice&rft.place=Cheltenham&rft.series=New+horizons+in+environmental+law+series&rft.pages=3&rft.pub=Edward+Elgar+Publishing&rft.date=2008&rft.isbn=9781848446038&rft.aulast=Faure&rft.aufirst=Michael+G.&rft.au=Peeters%2C+Marjan&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3DhqN99l5q3A8C&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEmissions+trading" class="Z3988"></span> </span> </li> </ol></div></div> <div class="mw-heading mw-heading2"><h2 id="External_links">External links</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Emissions_trading&action=edit&section=30" title="Edit section: External links"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1235681985">.mw-parser-output .side-box{margin:4px 0;box-sizing:border-box;border:1px solid #aaa;font-size:88%;line-height:1.25em;background-color:var(--background-color-interactive-subtle,#f8f9fa);display:flow-root}.mw-parser-output .side-box-abovebelow,.mw-parser-output .side-box-text{padding:0.25em 0.9em}.mw-parser-output .side-box-image{padding:2px 0 2px 0.9em;text-align:center}.mw-parser-output .side-box-imageright{padding:2px 0.9em 2px 0;text-align:center}@media(min-width:500px){.mw-parser-output .side-box-flex{display:flex;align-items:center}.mw-parser-output .side-box-text{flex:1;min-width:0}}@media(min-width:720px){.mw-parser-output .side-box{width:238px}.mw-parser-output .side-box-right{clear:right;float:right;margin-left:1em}.mw-parser-output .side-box-left{margin-right:1em}}</style><div class="side-box metadata side-box-right"><style data-mw-deduplicate="TemplateStyles:r1126788409">.mw-parser-output .plainlist ol,.mw-parser-output .plainlist ul{line-height:inherit;list-style:none;margin:0;padding:0}.mw-parser-output .plainlist ol li,.mw-parser-output .plainlist ul li{margin-bottom:0}</style> <div class="side-box-abovebelow"> <a href="/wiki/Wikipedia:The_Wikipedia_Library" title="Wikipedia:The Wikipedia Library">Library resources</a> about <br /> <b>Emissions trading</b> <hr /></div> <div class="side-box-flex"> <div class="side-box-text plainlist"><ul><li><a class="external text" href="https://ftl.toolforge.org/cgi-bin/ftl?st=wp&su=Emissions+trading">Resources in your library</a></li> </ul></div></div> </div> <ul><li><a rel="nofollow" class="external text" href="https://www.oecd-ilibrary.org/environment/greenhouse-gas-emissions-trading-and-project-based-mechanisms_9789264105775-en">Greenhouse Gas Emissions Trading and Project-based Mechanisms</a> – <a href="/wiki/Organisation_for_Economic_Co-operation_and_Development" class="mw-redirect" title="Organisation for Economic Co-operation and Development">Organisation for Economic Co-operation and Development</a></li> <li><a rel="nofollow" class="external text" href="https://www.epa.gov/acidrain/acid-rain-program">US EPA's Acid Rain Program</a></li></ul> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><style data-mw-deduplicate="TemplateStyles:r1236075235">.mw-parser-output .navbox{box-sizing:border-box;border:1px solid #a2a9b1;width:100%;clear:both;font-size:88%;text-align:center;padding:1px;margin:1em auto 0}.mw-parser-output .navbox .navbox{margin-top:0}.mw-parser-output .navbox+.navbox,.mw-parser-output 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.navbox-title{background-color:#ddf}.mw-parser-output .navbox-subgroup .navbox-group,.mw-parser-output .navbox-subgroup .navbox-abovebelow{background-color:#e6e6ff}.mw-parser-output .navbox-even{background-color:#f7f7f7}.mw-parser-output .navbox-odd{background-color:transparent}.mw-parser-output .navbox .hlist td dl,.mw-parser-output .navbox .hlist td ol,.mw-parser-output .navbox .hlist td ul,.mw-parser-output .navbox td.hlist dl,.mw-parser-output .navbox td.hlist ol,.mw-parser-output .navbox td.hlist ul{padding:0.125em 0}.mw-parser-output .navbox .navbar{display:block;font-size:100%}.mw-parser-output .navbox-title .navbar{float:left;text-align:left;margin-right:0.5em}body.skin--responsive .mw-parser-output .navbox-image img{max-width:none!important}@media print{body.ns-0 .mw-parser-output .navbox{display:none!important}}</style></div><div role="navigation" class="navbox" aria-labelledby="Emissions_trading_schemes" style="padding:3px"><table class="nowraplinks hlist mw-collapsible autocollapse navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Emissions_Trading_schemes" title="Template:Emissions Trading schemes"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Emissions_Trading_schemes" title="Template talk:Emissions Trading schemes"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Emissions_Trading_schemes" title="Special:EditPage/Template:Emissions Trading schemes"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Emissions_trading_schemes" style="font-size:114%;margin:0 4em"><a class="mw-selflink selflink">Emissions trading</a> schemes</div></th></tr><tr><th scope="row" class="navbox-group" style="width:1%">Asia</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Chinese_national_carbon_trading_scheme" title="Chinese national carbon trading scheme">Chinese national carbon trading scheme</a></li> <li><a href="/wiki/Carbon_market_in_India" title="Carbon market in India">Carbon market in India</a></li> <li><a href="/wiki/Kazakhstan_Emissions_Trading_System" title="Kazakhstan Emissions Trading System">Kazakhstan Emissions Trading System</a></li> <li><a href="/wiki/Emissions_Trading_Scheme_in_South_Korea" title="Emissions Trading Scheme in South Korea">Emissions Trading Scheme in South Korea</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Australasia</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/New_Zealand_Emissions_Trading_Scheme" title="New Zealand Emissions Trading Scheme">New Zealand Emissions Trading Scheme</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Europe</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/European_Union_Emission_Trading_System" class="mw-redirect" title="European Union Emission Trading System">European Union Emission Trading System</a></li> <li><a href="/wiki/UK_Emissions_Trading_Scheme" title="UK Emissions Trading Scheme">UK Emissions Trading Scheme</a></li> <li><a href="/wiki/Turkish_Emissions_Trading_System" title="Turkish Emissions Trading System">Turkish Emissions Trading System</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">North America</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Greenhouse_Gas_Pollution_Pricing_Act" title="Greenhouse Gas Pollution Pricing Act">Greenhouse Gas Pollution Pricing Act</a></li> <li><a href="/wiki/Western_Climate_Initiative" title="Western Climate Initiative">Western Climate Initiative</a></li> <li><a href="/wiki/Regional_Greenhouse_Gas_Initiative" title="Regional Greenhouse Gas Initiative">Regional Greenhouse Gas Initiative</a></li></ul> </div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"></div><div role="navigation" class="navbox" aria-labelledby="Climate_change" style="padding:3px"><table class="nowraplinks hlist mw-collapsible mw-collapsed navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Climate_change" title="Template:Climate change"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Climate_change" title="Template talk:Climate change"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Climate_change" title="Special:EditPage/Template:Climate change"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Climate_change" style="font-size:114%;margin:0 4em"><a href="/wiki/Climate_change" title="Climate change">Climate change</a></div></th></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks mw-collapsible expanded navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><div id="Overview" style="font-size:114%;margin:0 4em">Overview</div></th></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Causes_of_climate_change" title="Causes of climate change">Causes of climate change</a></li> <li><a href="/wiki/Effects_of_climate_change" title="Effects of climate change">Effects of climate change</a></li> <li><a href="/wiki/Climate_change_mitigation" title="Climate change mitigation">Climate change mitigation</a></li> <li><a href="/wiki/Climate_change_adaptation" title="Climate change adaptation">Climate change adaptation</a></li> <li><a href="/wiki/Template:Climate_change_regions" title="Template:Climate change regions">By country and region</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks mw-collapsible mw-collapsed navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><div id="Causes" style="font-size:114%;margin:0 4em"><a href="/wiki/Causes_of_climate_change" title="Causes of climate change">Causes</a></div></th></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:10.25em">Overview</th><td class="navbox-list-with-group navbox-list navbox-odd" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Climate_system" title="Climate system">Climate system</a></li> <li><a href="/wiki/Greenhouse_effect" title="Greenhouse effect">Greenhouse effect</a> (<a href="/wiki/Carbon_dioxide_in_Earth%27s_atmosphere" title="Carbon dioxide in Earth's atmosphere">Carbon dioxide in Earth's atmosphere</a>)</li> <li><a href="/wiki/Scientific_consensus_on_climate_change" title="Scientific consensus on climate change">Scientific consensus on climate change</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:10.25em">Sources</th><td class="navbox-list-with-group navbox-list navbox-even" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Deforestation_and_climate_change" title="Deforestation and climate change">Deforestation</a></li> <li><a href="/wiki/Fossil_fuel" title="Fossil fuel">Fossil fuel</a></li> <li><a href="/wiki/Greenhouse_gas" title="Greenhouse gas">Greenhouse gases</a></li> <li><a href="/wiki/Greenhouse_gas_emissions" title="Greenhouse gas emissions">Greenhouse gas emissions</a> <ul><li><a href="/wiki/Carbon_accounting" title="Carbon accounting">Carbon accounting</a></li> <li><a href="/wiki/Carbon_footprint" title="Carbon footprint">Carbon footprint</a></li> <li><a href="/wiki/Carbon_leakage" title="Carbon leakage">Carbon leakage</a></li> <li><a href="/wiki/Greenhouse_gas_emissions_from_agriculture" title="Greenhouse gas emissions from agriculture">from agriculture</a></li> <li><a href="/wiki/Greenhouse_gas_emissions_from_wetlands" title="Greenhouse gas emissions from wetlands">from wetlands</a></li></ul></li> <li><a href="/wiki/World_energy_supply_and_consumption" title="World energy supply and consumption">World energy supply and consumption</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr></tbody></table><div></div></td></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks mw-collapsible mw-collapsed navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><div id="History" style="font-size:114%;margin:0 4em">History</div></th></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/History_of_climate_change_policy_and_politics" title="History of climate change policy and politics">History of climate change policy and politics</a></li> <li><a href="/wiki/History_of_climate_change_science" title="History of climate change science">History of climate change science</a></li> <li><a href="/wiki/Svante_Arrhenius" title="Svante Arrhenius">Svante Arrhenius</a></li> <li><a href="/wiki/James_Hansen" title="James Hansen">James Hansen</a></li> <li><a href="/wiki/Charles_David_Keeling" title="Charles David Keeling">Charles David Keeling</a></li> <li><a href="/wiki/United_Nations_Climate_Change_conference" class="mw-redirect" title="United Nations Climate Change conference">United Nations Climate Change conferences</a></li> <li>Years in climate change <ul><li><a href="/wiki/2019_in_climate_change" title="2019 in climate change">2019</a></li> <li><a href="/wiki/2020_in_climate_change" title="2020 in climate change">2020</a></li> <li><a href="/wiki/2021_in_climate_change" title="2021 in climate change">2021</a></li> <li><a href="/wiki/2022_in_climate_change" title="2022 in climate change">2022</a></li> <li><a href="/wiki/2023_in_climate_change" title="2023 in climate change">2023</a></li> <li><a href="/wiki/2024_in_climate_change" title="2024 in climate change">2024</a></li></ul></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks mw-collapsible mw-collapsed navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><div id="Effects_and_issues" style="font-size:114%;margin:0 4em"><a href="/wiki/Effects_of_climate_change" title="Effects of climate change">Effects and issues</a></div></th></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:10.25em">Physical</th><td class="navbox-list-with-group navbox-list navbox-odd" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Abrupt_climate_change" title="Abrupt climate change">Abrupt climate change</a></li> <li><a href="/wiki/Anoxic_event" title="Anoxic event">Anoxic event</a></li> <li><a href="/wiki/Arctic_methane_emissions" title="Arctic methane emissions">Arctic methane emissions</a></li> <li><a href="/wiki/Arctic_sea_ice_decline" title="Arctic sea ice decline">Arctic sea ice decline</a></li> <li><a href="/wiki/Atlantic_meridional_overturning_circulation" title="Atlantic meridional overturning circulation">Atlantic meridional overturning circulation</a></li> <li><a href="/wiki/Drought" title="Drought">Drought</a></li> <li><a href="/wiki/Extreme_weather" title="Extreme weather">Extreme weather</a></li> <li><a href="/wiki/Flood" title="Flood">Flood</a> <ul><li><a href="/wiki/Coastal_flooding" title="Coastal flooding">Coastal flooding</a></li></ul></li> <li><a href="/wiki/Heat_wave" title="Heat wave">Heat wave</a> <ul><li><a href="/wiki/Marine_heatwave" title="Marine heatwave">Marine</a></li> <li><a href="/wiki/Urban_heat_island" title="Urban heat island">Urban heat island</a></li></ul></li> <li><a href="/wiki/Effects_of_climate_change_on_oceans" title="Effects of climate change on oceans">Oceans</a> <ul><li><a href="/wiki/Ocean_acidification" title="Ocean acidification">acidification</a></li> <li><a href="/wiki/Ocean_deoxygenation" title="Ocean deoxygenation">deoxygenation</a></li> <li><a href="/wiki/Ocean_heat_content" title="Ocean heat content">heat content</a></li> <li><a href="/wiki/Sea_surface_temperature" title="Sea surface temperature">sea surface temperature</a></li> <li><a href="/wiki/Ocean_stratification" title="Ocean stratification">stratification</a></li> <li><a href="/wiki/Ocean_temperature" title="Ocean temperature">temperature</a></li></ul></li> <li><a href="/wiki/Ozone_depletion" title="Ozone depletion">Ozone depletion</a></li> <li><a href="/wiki/Permafrost#Impacts_of_climate_change" title="Permafrost">Permafrost thaw</a></li> <li><a href="/wiki/Retreat_of_glaciers_since_1850" title="Retreat of glaciers since 1850">Retreat of glaciers since 1850</a></li> <li><a href="/wiki/Sea_level_rise" title="Sea level rise">Sea level rise</a></li> <li><a href="/wiki/Season_creep" title="Season creep">Season creep</a></li> <li><a href="/wiki/Tipping_points_in_the_climate_system" title="Tipping points in the climate system">Tipping points in the climate system</a></li> <li><a href="/wiki/Tropical_cyclones_and_climate_change" title="Tropical cyclones and climate change">Tropical cyclones</a></li> <li><a href="/wiki/Effects_of_climate_change_on_the_water_cycle" title="Effects of climate change on the water cycle">Water cycle</a></li> <li><a href="/wiki/Climate_change_and_wildfires" class="mw-redirect" title="Climate change and wildfires">Wildfires</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:10.25em">Flora and fauna</th><td class="navbox-list-with-group navbox-list navbox-even" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Effects_of_climate_change_on_biomes" title="Effects of climate change on biomes">Biomes</a> <ul><li><a href="/wiki/Mass_mortality_event" title="Mass mortality event">Mass mortality event</a></li></ul></li> <li><a href="/wiki/Climate_change_and_birds" title="Climate change and birds">Birds</a></li> <li><a href="/wiki/Extinction_risk_from_climate_change" title="Extinction risk from climate change">Extinction risk</a></li> <li><a href="/wiki/Forest_dieback" title="Forest dieback">Forest dieback</a></li> <li><a href="/wiki/Climate_change_and_invasive_species" title="Climate change and invasive species">Invasive species</a></li> <li><a href="/wiki/Human_impact_on_marine_life#Climate_change" title="Human impact on marine life">Marine life</a></li> <li><a href="/wiki/Effects_of_climate_change_on_plant_biodiversity" title="Effects of climate change on plant biodiversity">Plant biodiversity</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:10.25em">Social and economic</th><td class="navbox-list-with-group navbox-list navbox-odd" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Effects_of_climate_change_on_agriculture" title="Effects of climate change on agriculture">Agriculture</a> <ul><li><a href="/wiki/Effects_of_climate_change_on_livestock" title="Effects of climate change on livestock">Livestock</a></li> <li><a href="/wiki/Climate_change_and_agriculture_in_the_United_States" title="Climate change and agriculture in the United States">United States</a></li></ul></li> <li><a href="/wiki/Climate_change_and_children" title="Climate change and children">Children</a></li> <li><a href="/wiki/Climate_change_and_cities" title="Climate change and cities">Cities</a></li> <li><a href="/wiki/Climate_change_and_civilizational_collapse" title="Climate change and civilizational collapse">Civilizational collapse</a></li> <li><a href="/wiki/Climate_change_and_crime" title="Climate change and crime">Crime</a></li> <li><a href="/wiki/List_of_areas_depopulated_due_to_climate_change" title="List of areas depopulated due to climate change">Depopulation of settlements</a></li> <li><a href="/wiki/List_of_landmarks_destroyed_or_damaged_by_climate_change" title="List of landmarks destroyed or damaged by climate change">Destruction of cultural heritage</a></li> <li><a href="/wiki/Disability_and_climate_change" title="Disability and climate change">Disability</a></li> <li><a href="/wiki/Economic_analysis_of_climate_change" title="Economic analysis of climate change">Economic impacts</a> <ul><li><a href="/wiki/Climate_change_and_insurance_in_the_United_States" title="Climate change and insurance in the United States">U.S. insurance industry</a></li></ul></li> <li><a href="/wiki/Climate_change_and_fisheries" title="Climate change and fisheries">Fisheries</a></li> <li><a href="/wiki/Climate_change_and_gender" title="Climate change and gender">Gender</a></li> <li><a href="/wiki/Effects_of_climate_change_on_human_health" title="Effects of climate change on human health">Health</a> <ul><li><a href="/wiki/Effects_of_climate_change_on_mental_health" title="Effects of climate change on mental health">Mental health</a></li></ul></li> <li><a href="/wiki/Human_rights_and_climate_change" title="Human rights and climate change">Human rights</a></li> <li><a href="/wiki/Climate_change_and_Indigenous_peoples" class="mw-redirect" title="Climate change and Indigenous peoples">Indigenous peoples</a></li> <li><a href="/wiki/Climate_change_and_infectious_diseases" title="Climate change and infectious diseases">Infectious diseases</a></li> <li><a href="/wiki/Climate_migration" title="Climate migration">Migration</a></li> <li><a href="/wiki/Climate_change_and_poverty" title="Climate change and poverty">Poverty</a></li> <li><a href="/wiki/Psychological_impact_of_climate_change" title="Psychological impact of climate change">Psychological impacts</a></li> <li><a href="/wiki/Climate_security" title="Climate security">Security and conflict</a></li> <li><a href="/wiki/Urban_flooding" title="Urban flooding">Urban flooding</a></li> <li><a href="/wiki/Water_scarcity" title="Water scarcity">Water scarcity</a></li> <li><a href="/wiki/Water_security" title="Water security">Water security</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:10.25em"><a href="/wiki/Template:Climate_change_regions" title="Template:Climate change regions">By country and region</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Climate_change_in_Africa" title="Climate change in Africa">Africa</a></li> <li><a href="/wiki/Climate_change_in_the_Americas" title="Climate change in the Americas">Americas</a></li> <li><a href="/wiki/Climate_change_in_Antarctica" title="Climate change in Antarctica">Antarctica</a></li> <li><a href="/wiki/Climate_change_in_the_Arctic" title="Climate change in the Arctic">Arctic</a></li> <li><a href="/wiki/Climate_change_in_Asia" title="Climate change in Asia">Asia</a></li> <li><a href="/wiki/Climate_change_in_Australia" title="Climate change in Australia">Australia</a></li> <li><a href="/wiki/Climate_change_in_the_Caribbean" title="Climate change in the Caribbean">Caribbean</a></li> <li><a href="/wiki/Climate_change_in_Europe" title="Climate change in Europe">Europe</a></li> <li><a href="/wiki/Climate_change_in_the_Middle_East_and_North_Africa" title="Climate change in the Middle East and North Africa">Middle East and North Africa</a></li> <li><a href="/wiki/Effects_of_climate_change_on_small_island_countries" title="Effects of climate change on small island countries">Small island countries</a></li> <li><a href="/wiki/Category:Climate_change_by_country" title="Category:Climate change by country">by individual country</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr></tbody></table><div></div></td></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks mw-collapsible mw-collapsed navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><div id="Mitigation" style="font-size:114%;margin:0 4em"><a href="/wiki/Climate_change_mitigation" title="Climate change mitigation">Mitigation</a></div></th></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:10.25em"><a href="/wiki/Economic_analysis_of_climate_change" title="Economic analysis of climate change">Economics and finance</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Carbon_budget" title="Carbon budget">Carbon budget</a></li> <li><a href="/wiki/Carbon_emission_trading" title="Carbon emission trading">Carbon emission trading</a></li> <li><a href="/wiki/Carbon_offsets_and_credits" title="Carbon offsets and credits">Carbon offsets and credits</a> <ul><li><a href="/wiki/Gold_Standard_(carbon_offset_standard)" title="Gold Standard (carbon offset standard)">Gold Standard (carbon offset standard)</a></li></ul></li> <li><a href="/wiki/Carbon_price" title="Carbon price">Carbon price</a></li> <li><a href="/wiki/Carbon_tax" title="Carbon tax">Carbon tax</a></li> <li><a href="/wiki/Climate_debt" title="Climate debt">Climate debt</a></li> <li><a href="/wiki/Climate_finance" title="Climate finance">Climate finance</a></li> <li><a href="/wiki/Climate_risk_insurance" title="Climate risk insurance">Climate risk insurance</a></li> <li><a href="/wiki/Co-benefits_of_climate_change_mitigation" class="mw-redirect" title="Co-benefits of climate change mitigation">Co-benefits of climate change mitigation</a></li> <li><a href="/wiki/Economics_of_climate_change_mitigation" title="Economics of climate change mitigation">Economics of climate change mitigation</a></li> <li><a href="/wiki/Fossil_fuel_divestment" title="Fossil fuel divestment">Fossil fuel divestment</a></li> <li><a href="/wiki/Green_Climate_Fund" title="Green Climate Fund">Green Climate Fund</a></li> <li><a href="/wiki/Low-carbon_economy" title="Low-carbon economy">Low-carbon economy</a></li> <li><a href="/wiki/Net_zero_emissions" class="mw-redirect" title="Net zero emissions">Net zero emissions</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:10.25em">Energy</th><td class="navbox-list-with-group navbox-list navbox-even" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Carbon_capture_and_storage" title="Carbon capture and storage">Carbon capture and storage</a></li> <li><a href="/wiki/Energy_transition" title="Energy transition">Energy transition</a> <ul><li><a href="/wiki/Fossil_fuel_phase-out" title="Fossil fuel phase-out">Fossil fuel phase-out</a></li></ul></li> <li><a href="/wiki/Nuclear_power" title="Nuclear power">Nuclear power</a></li> <li><a href="/wiki/Renewable_energy" title="Renewable energy">Renewable energy</a></li> <li><a href="/wiki/Sustainable_energy" title="Sustainable energy">Sustainable energy</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:10.25em">Preserving and enhancing<br /> <a href="/wiki/Carbon_sink" title="Carbon sink">carbon sinks</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Blue_carbon" title="Blue carbon">Blue carbon</a></li> <li><a href="/wiki/Carbon_dioxide_removal" title="Carbon dioxide removal">Carbon dioxide removal</a> <ul><li><a href="/wiki/Carbon_sequestration" title="Carbon sequestration">Carbon sequestration</a></li> <li><a href="/wiki/Direct_air_capture" title="Direct air capture">Direct air capture</a></li></ul></li> <li><a href="/wiki/Carbon_farming" title="Carbon farming">Carbon farming</a></li> <li><a href="/wiki/Climate-smart_agriculture" title="Climate-smart agriculture">Climate-smart agriculture</a></li> <li>Forest management <ul><li><a href="/wiki/Afforestation" title="Afforestation">afforestation</a></li> <li><a href="/wiki/Carbon_sequestration#Forestry" title="Carbon sequestration">forestry for carbon sequestration</a></li> <li><a href="/wiki/REDD_and_REDD%2B" title="REDD and REDD+">REDD and REDD+</a></li> <li><a href="/wiki/Reforestation" title="Reforestation">reforestation</a></li></ul></li> <li><a href="/wiki/Land_use,_land-use_change,_and_forestry" title="Land use, land-use change, and forestry">Land use, land-use change, and forestry</a> (LULUCF and AFOLU)</li> <li><a href="/wiki/Nature-based_solutions" title="Nature-based solutions">Nature-based solutions</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:10.25em">Personal</th><td class="navbox-list-with-group navbox-list navbox-even" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Individual_action_on_climate_change" title="Individual action on climate change">Individual action on climate change</a> <ul><li><a href="/wiki/Plant-based_diet" title="Plant-based diet">Plant-based diet</a></li></ul></li></ul> </div></td></tr></tbody></table><div></div></td></tr></tbody></table><div></div></td></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks mw-collapsible mw-collapsed navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><div id="Society_and_adaptation" style="font-size:114%;margin:0 4em">Society and <a href="/wiki/Climate_change_adaptation" title="Climate change adaptation">adaptation</a></div></th></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:10.25em">Society</th><td class="navbox-list-with-group navbox-list navbox-odd" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Business_action_on_climate_change" title="Business action on climate change">Business action</a></li> <li><a href="/wiki/Climate_action" title="Climate action">Climate action</a></li> <li><a href="/wiki/Climate_emergency_declaration" title="Climate emergency declaration">Climate emergency declaration</a></li> <li><a href="/wiki/Climate_movement" title="Climate movement">Climate movement</a> <ul><li><a href="/wiki/School_Strike_for_Climate" class="mw-redirect" title="School Strike for Climate">School Strike for Climate</a></li></ul></li> <li><a href="/wiki/Climate_change_denial" title="Climate change denial">Denial</a></li> <li><a href="/wiki/Ecological_grief" title="Ecological grief">Ecological grief</a></li> <li><a href="/wiki/Climate_governance" title="Climate governance">Governance</a></li> <li><a href="/wiki/Climate_justice" title="Climate justice">Justice</a></li> <li><a href="/wiki/Climate_change_litigation" title="Climate change litigation">Litigation</a></li> <li><a href="/wiki/Politics_of_climate_change" title="Politics of climate change">Politics</a></li> <li><a href="/wiki/Public_opinion_on_climate_change" title="Public opinion on climate change">Public opinion</a></li> <li><a href="/wiki/Women_in_climate_change" title="Women in climate change">Women</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:10.25em"><a href="/wiki/Climate_change_adaptation" title="Climate change adaptation">Adaptation</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Climate_change_adaptation_strategies_on_the_German_coast" title="Climate change adaptation strategies on the German coast">Adaptation strategies on the German coast</a></li> <li><a href="/wiki/Adaptive_capacity" title="Adaptive capacity">Adaptive capacity</a></li> <li><a href="/wiki/Disaster_risk_reduction" title="Disaster risk reduction">Disaster risk reduction</a></li> <li><a href="/wiki/Ecosystem-based_adaptation" title="Ecosystem-based adaptation">Ecosystem-based adaptation</a></li> <li><a href="/wiki/Flood_control" class="mw-redirect" title="Flood control">Flood control</a></li> <li><a href="/wiki/Loss_and_damage_(climate_change)" title="Loss and damage (climate change)">Loss and damage</a></li> <li><a href="/wiki/Managed_retreat" title="Managed retreat">Managed retreat</a></li> <li><a href="/wiki/Nature-based_solutions" title="Nature-based solutions">Nature-based solutions</a></li> <li><a href="/wiki/Climate_resilience" title="Climate resilience">Resilience</a></li> <li><a href="/wiki/Climate_risk" title="Climate risk">Risk</a></li> <li><a href="/wiki/Climate_change_vulnerability" title="Climate change vulnerability">Vulnerability</a></li> <li><a href="/wiki/The_Adaptation_Fund" title="The Adaptation Fund">The Adaptation Fund</a></li> <li><a href="/wiki/National_Adaptation_Programme_of_Action" title="National Adaptation Programme of Action">National Adaptation Programme of Action</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:10.25em"><a href="/wiki/Climate_communication" title="Climate communication">Communication</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Climate_Change_Performance_Index" title="Climate Change Performance Index">Climate Change Performance Index</a></li> <li><a href="/wiki/Climate_crisis" title="Climate crisis">Climate crisis (term)</a></li> <li><a href="/wiki/Climate_spiral" title="Climate spiral">Climate spiral</a></li> <li><a href="/wiki/Climate_change_education" title="Climate change education">Education</a></li> <li><a href="/wiki/Media_coverage_of_climate_change" title="Media coverage of climate change">Media coverage</a></li> <li><a href="/wiki/Climate_change_in_popular_culture" title="Climate change in popular culture">Popular culture depictions</a> <ul><li><a href="/wiki/Climate_change_art" title="Climate change art">art</a></li> <li><a href="/wiki/Climate_fiction" title="Climate fiction">fiction</a></li> <li><a href="/wiki/List_of_climate_change_video_games" class="mw-redirect" title="List of climate change video games">video games</a></li></ul></li> <li><a href="/wiki/Warming_stripes" title="Warming stripes">Warming stripes</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:10.25em">International agreements</th><td class="navbox-list-with-group navbox-list navbox-even" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Glasgow_Climate_Pact" title="Glasgow Climate Pact">Glasgow Climate Pact</a></li> <li><a href="/wiki/Kyoto_Protocol" title="Kyoto Protocol">Kyoto Protocol</a></li> <li><a href="/wiki/Paris_Agreement" title="Paris Agreement">Paris Agreement</a> <ul><li><a href="/wiki/Cooperative_Mechanisms_under_Article_6_of_the_Paris_Agreement" title="Cooperative Mechanisms under Article 6 of the Paris Agreement">Cooperative Mechanisms under Article 6 of the Paris Agreement</a></li> <li><a href="/wiki/Nationally_determined_contribution" title="Nationally determined contribution">Nationally determined contributions</a></li></ul></li> <li><a href="/wiki/Sustainable_Development_Goal_13" title="Sustainable Development Goal 13">Sustainable Development Goal 13</a></li> <li><a href="/wiki/United_Nations_Framework_Convention_on_Climate_Change" title="United Nations Framework Convention on Climate Change">United Nations Framework Convention on Climate Change</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr></tbody></table><div></div></td></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks mw-collapsible mw-collapsed navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><div id="Background_and_theory" style="font-size:114%;margin:0 4em">Background and theory</div></th></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:10.25em">Measurements</th><td class="navbox-list-with-group navbox-list navbox-odd" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Global_surface_temperature" title="Global surface temperature">Global surface temperature</a></li> <li><a href="/wiki/Instrumental_temperature_record" class="mw-redirect" title="Instrumental temperature record">Instrumental temperature record</a></li> <li><a href="/wiki/Proxy_(climate)" title="Proxy (climate)">Proxy</a></li> <li><a href="/wiki/Satellite_temperature_measurement" title="Satellite temperature measurement">Satellite temperature measurement</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:10.25em">Theory</th><td class="navbox-list-with-group navbox-list navbox-even" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Albedo" title="Albedo">Albedo</a></li> <li><a href="/wiki/Carbon_cycle" title="Carbon cycle">Carbon cycle</a> <ul><li><a href="/wiki/Atmospheric_carbon_cycle" title="Atmospheric carbon cycle">atmospheric</a></li> <li><a href="/wiki/Biological_pump" title="Biological pump">biologic</a></li> <li><a href="/wiki/Oceanic_carbon_cycle" title="Oceanic carbon cycle">oceanic</a></li> <li><a href="/wiki/Permafrost_carbon_cycle" title="Permafrost carbon cycle">permafrost</a></li></ul></li> <li><a href="/wiki/Carbon_sink" title="Carbon sink">Carbon sink</a></li> <li><a href="/wiki/Climate_sensitivity" title="Climate sensitivity">Climate sensitivity</a></li> <li><a href="/wiki/Climate_variability_and_change" title="Climate variability and change">Climate variability and change</a></li> <li><a href="/wiki/Cloud_feedback" title="Cloud feedback">Cloud feedback</a></li> <li><a href="/wiki/Cloud_forcing" class="mw-redirect" title="Cloud forcing">Cloud forcing</a> <ul><li><a href="/wiki/Fixed_anvil_temperature_hypothesis" title="Fixed anvil temperature hypothesis">Fixed anvil temperature hypothesis</a></li></ul></li> <li><a href="/wiki/Cryosphere" title="Cryosphere">Cryosphere</a></li> <li><a href="/wiki/Earth%27s_energy_budget" title="Earth's energy budget">Earth's energy budget</a></li> <li><a href="/wiki/Extreme_event_attribution" title="Extreme event attribution">Extreme event attribution</a></li> <li><a href="/wiki/Climate_change_feedbacks" title="Climate change feedbacks">Feedbacks</a></li> <li><a href="/wiki/Global_warming_potential" title="Global warming potential">Global warming potential</a></li> <li><a href="/wiki/Illustrative_model_of_greenhouse_effect_on_climate_change" title="Illustrative model of greenhouse effect on climate change">Illustrative model of greenhouse effect on climate change</a></li> <li><a href="/wiki/Orbital_forcing" title="Orbital forcing">Orbital forcing</a></li> <li><a href="/wiki/Radiative_forcing" title="Radiative forcing">Radiative forcing</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:10.25em">Research and modelling</th><td class="navbox-list-with-group navbox-list navbox-odd" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Climate_change_scenario" title="Climate change scenario">Climate change scenario</a></li> <li><a href="/wiki/Climate_model" title="Climate model">Climate model</a></li> <li><a href="/wiki/Coupled_Model_Intercomparison_Project" title="Coupled Model Intercomparison Project">Coupled Model Intercomparison Project</a></li> <li><a href="/wiki/Intergovernmental_Panel_on_Climate_Change" title="Intergovernmental Panel on Climate Change">Intergovernmental Panel on Climate Change (IPCC)</a> <ul><li><a href="/wiki/IPCC_Sixth_Assessment_Report" title="IPCC Sixth Assessment Report">IPCC Sixth Assessment Report</a></li></ul></li> <li><a href="/wiki/Paleoclimatology" title="Paleoclimatology">Paleoclimatology</a></li> <li><a href="/wiki/Representative_Concentration_Pathway" title="Representative Concentration Pathway">Representative Concentration Pathway</a></li> <li><a href="/wiki/Shared_Socioeconomic_Pathways" title="Shared Socioeconomic Pathways">Shared Socioeconomic Pathways</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr></tbody></table><div></div></td></tr><tr><td class="navbox-abovebelow" colspan="2"><div> <ul><li><b><span class="nowrap"><span class="noviewer" typeof="mw:File"><span><img alt="icon" src="//upload.wikimedia.org/wikipedia/commons/thumb/6/66/Climate_change_icon.png/16px-Climate_change_icon.png" decoding="async" width="16" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/6/66/Climate_change_icon.png/24px-Climate_change_icon.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/6/66/Climate_change_icon.png/32px-Climate_change_icon.png 2x" data-file-width="1112" data-file-height="1056" /></span></span> </span><a href="/wiki/Portal:Climate_change" title="Portal:Climate change">Climate change portal</a></b></li> <li><span class="noviewer" typeof="mw:File"><span title="Category"><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/16px-Symbol_category_class.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/23px-Symbol_category_class.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/31px-Symbol_category_class.svg.png 2x" data-file-width="180" data-file-height="185" /></span></span> <b><a href="/wiki/Category:Climate_change" title="Category:Climate change">Category</a></b></li> <li><span class="noviewer" typeof="mw:File"><span title="List-Class article"><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/d/db/Symbol_list_class.svg/16px-Symbol_list_class.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/d/db/Symbol_list_class.svg/23px-Symbol_list_class.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/d/db/Symbol_list_class.svg/31px-Symbol_list_class.svg.png 2x" data-file-width="180" data-file-height="185" /></span></span> <b><a href="/wiki/Glossary_of_climate_change" title="Glossary of climate change">Glossary</a></b></li> <li><span class="noviewer" typeof="mw:File"><span title="List-Class article"><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/d/db/Symbol_list_class.svg/16px-Symbol_list_class.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/d/db/Symbol_list_class.svg/23px-Symbol_list_class.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/d/db/Symbol_list_class.svg/31px-Symbol_list_class.svg.png 2x" data-file-width="180" data-file-height="185" /></span></span> <b><a href="/wiki/Index_of_climate_change_articles" title="Index of climate change articles">Index</a></b></li></ul> </div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"></div><div role="navigation" class="navbox" aria-labelledby="Sustainability" style="padding:3px"><table class="nowraplinks hlist mw-collapsible mw-collapsed navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Sustainability" title="Template:Sustainability"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Sustainability" title="Template talk:Sustainability"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Sustainability" title="Special:EditPage/Template:Sustainability"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Sustainability" style="font-size:114%;margin:0 4em"><a href="/wiki/Sustainability" title="Sustainability">Sustainability</a></div></th></tr><tr><td class="navbox-abovebelow" colspan="2"><div> <ul><li><a href="/wiki/Outline_of_sustainability" title="Outline of sustainability">Outline</a></li> <li><a href="/wiki/Index_of_sustainability_articles" title="Index of sustainability articles">Index</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Sustainability#Principles_and_concepts" title="Sustainability">Principles</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Anthropocene" title="Anthropocene">Anthropocene</a></li> <li><a href="/wiki/Environmentalism" title="Environmentalism">Environmentalism</a></li> <li><a href="/wiki/Global_governance" title="Global governance">Global governance</a></li> <li><a href="/wiki/Human_impact_on_the_environment" title="Human impact on the environment">Human impact on the environment</a></li> <li><a href="/wiki/Planetary_boundaries" title="Planetary boundaries">Planetary boundaries</a></li> <li><a href="/wiki/Sustainable_development" title="Sustainable development">Development</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Sustainable_consumption" title="Sustainable consumption">Consumption</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Anthropization" title="Anthropization">Anthropization</a></li> <li><a href="/wiki/Anti-consumerism" title="Anti-consumerism">Anti-consumerism</a></li> <li><a href="/wiki/Circular_economy" title="Circular economy">Circular economy</a></li> <li><a href="/wiki/Durable_good" title="Durable good">Durable good</a></li> <li><a href="/wiki/Earth_Overshoot_Day" title="Earth Overshoot Day">Earth Overshoot Day</a></li> <li><a href="/wiki/Ecological_footprint" title="Ecological footprint">Ecological footprint</a></li> <li><a href="/wiki/Ethical_consumerism" title="Ethical consumerism">Ethical</a></li> <li><a href="/wiki/Green_consumption" title="Green consumption">Green consumption</a></li> <li><a href="/wiki/Micro-sustainability" title="Micro-sustainability">Micro-sustainability</a></li> <li><a href="/wiki/Over-consumption" class="mw-redirect" title="Over-consumption">Over-consumption</a></li> <li><a href="/wiki/Product_stewardship" title="Product stewardship">Product stewardship</a></li> <li><a href="/wiki/Simple_living" title="Simple living">Simple living</a></li> <li><a href="/wiki/Social_return_on_investment" title="Social return on investment">Social return on investment</a></li> <li><a href="/wiki/Steady-state_economy" title="Steady-state economy">Steady-state economy</a></li> <li><a href="/wiki/Sustainability" title="Sustainability">Sustainability</a> <ul><li><a href="/wiki/Sustainability_advertising" title="Sustainability advertising">Advertising</a></li> <li><a href="/wiki/Sustainability_brand" title="Sustainability brand">Brand</a></li> <li><a href="/wiki/Sustainability_marketing_myopia" title="Sustainability marketing myopia">Marketing myopia</a></li></ul></li> <li><a href="/wiki/Sustainability" title="Sustainability">Sustainable</a> <ul><li><a href="/wiki/Sustainable_consumer_behaviour" title="Sustainable consumer behaviour">Consumer behaviour</a></li> <li><a href="/wiki/Sustainable_market" class="mw-redirect" title="Sustainable market">Market</a></li></ul></li> <li><a href="/wiki/Sustainability_and_systemic_change_resistance" title="Sustainability and systemic change resistance">Systemic change resistance</a></li> <li><a href="/wiki/Tragedy_of_the_commons" title="Tragedy of the commons">Tragedy of the commons</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/World_population" title="World population">World population</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Demographic_transition" title="Demographic transition">Demographic transition</a></li> <li><a href="/wiki/Family_planning" title="Family planning">Family planning</a></li> <li><a href="/wiki/Human_population_control" class="mw-redirect" title="Human population control">Control</a></li> <li><a href="/wiki/Sustainable_population" title="Sustainable population">Sustainable population</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Technology</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Appropriate_technology" title="Appropriate technology">Appropriate</a></li> <li><a href="/wiki/Environmental_technology" title="Environmental technology">Environmental technology</a></li> <li><a href="/wiki/Natural_building" title="Natural building">Natural building</a></li> <li><a href="/wiki/Sustainable_architecture" title="Sustainable architecture">Sustainable architecture</a></li> <li><a href="/wiki/Sustainable_design" title="Sustainable design">Sustainable design</a></li> <li><a href="/wiki/Sustainable_industries" title="Sustainable industries">Sustainable industries</a></li> <li><a href="/wiki/Sustainable_packaging" title="Sustainable packaging">Sustainable packaging</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Biodiversity" title="Biodiversity">Biodiversity</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Biosecurity" title="Biosecurity">Biosecurity</a></li> <li><a href="/wiki/Biosphere" title="Biosphere">Biosphere</a></li> <li><a href="/wiki/Conservation_biology" title="Conservation biology">Conservation biology</a></li> <li><a href="/wiki/Endangered_species" title="Endangered species">Endangered species</a></li> <li><a href="/wiki/Holocene_extinction" title="Holocene extinction">Holocene extinction</a></li> <li><a href="/wiki/Invasive_species" title="Invasive species">Invasive species</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Energy" title="Energy">Energy</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Carbon_footprint" title="Carbon footprint">Carbon footprint</a></li> <li><a href="/wiki/Renewable_energy" title="Renewable energy">Renewable energy</a></li> <li><a href="/wiki/Sustainable_energy" title="Sustainable energy">Sustainable energy</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Sustainable_food_system" title="Sustainable food system">Food</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Civic_agriculture" title="Civic agriculture">Civic agriculture</a></li> <li><a href="/wiki/Climate-smart_agriculture" title="Climate-smart agriculture">Climate-smart agriculture</a></li> <li><a href="/wiki/Community-supported_agriculture" title="Community-supported agriculture">Community-supported agriculture</a></li> <li><a href="/wiki/Cultured_meat" title="Cultured meat">Cultured meat</a></li> <li><a href="/wiki/Sustainable_agriculture" title="Sustainable agriculture">Sustainable agriculture</a></li> <li><a href="/wiki/Sustainable_diet" title="Sustainable diet">Sustainable diet</a></li> <li><a href="/wiki/Sustainable_fishery" title="Sustainable fishery">Sustainable fishery</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Water</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Air_well_(condenser)" title="Air well (condenser)">Air well (condenser)</a></li> <li><a href="/wiki/Bioretention" title="Bioretention">Bioretention</a></li> <li><a href="/wiki/Bioswale" title="Bioswale">Bioswale</a></li> <li><a href="/wiki/Blue_roof" title="Blue roof">Blue roof</a></li> <li><a href="/wiki/Catchwater" title="Catchwater">Catchwater</a></li> <li><a href="/wiki/Constructed_wetland" title="Constructed wetland">Constructed wetland</a></li> <li><a href="/wiki/Detention_basin" title="Detention basin">Detention basin</a></li> <li><a href="/wiki/Dew_pond" title="Dew pond">Dew pond</a></li> <li><a href="/wiki/Water_footprint" title="Water footprint">Footprint</a></li> <li><a href="/wiki/Hydroelectricity" title="Hydroelectricity">Hydroelectricity</a></li> <li><a href="/wiki/Hydropower" title="Hydropower">Hydropower</a></li> <li><a href="/wiki/Infiltration_basin" title="Infiltration basin">Infiltration basin</a></li> <li><a href="/wiki/Irrigation_tank" title="Irrigation tank">Irrigation tank</a></li> <li><a href="/wiki/Marine_energy" title="Marine energy">Marine energy</a></li> <li><a href="/wiki/Micro_hydro" title="Micro hydro">Micro hydro</a></li> <li><a href="/wiki/Ocean_thermal_energy_conversion" title="Ocean thermal energy conversion">Ocean thermal energy conversion</a></li> <li><a href="/wiki/Pico_hydro" title="Pico hydro">Pico hydro</a></li> <li><a href="/wiki/Rain_garden" title="Rain garden">Rain garden</a></li> <li><a href="/wiki/Rainwater_harvesting" title="Rainwater harvesting">Rainwater harvesting</a></li> <li><a href="/wiki/Rainwater_tank" title="Rainwater tank">Rainwater tank</a></li> <li><a href="/wiki/Reclaimed_water" title="Reclaimed water">Reclaimed water</a></li> <li><a href="/wiki/Retention_basin" title="Retention basin">Retention basin</a></li> <li><a href="/wiki/Run-of-the-river_hydroelectricity" title="Run-of-the-river hydroelectricity">Run-of-the-river hydroelectricity</a></li> <li><a href="/wiki/Water_scarcity" title="Water scarcity">Scarcity</a></li> <li><a href="/wiki/Water_security" title="Water security">Security</a></li> <li><a href="/wiki/Small_hydro" title="Small hydro">Small hydro</a></li> <li><a href="/wiki/Sustainable_drainage_system" title="Sustainable drainage system">Sustainable drainage system</a></li> <li><a href="/wiki/Tidal_power" title="Tidal power">Tidal power</a></li> <li><a href="/wiki/Tidal_stream_generator" title="Tidal stream generator">Tidal stream generator</a></li> <li><a href="/wiki/Tree_box_filter" title="Tree box filter">Tree box filter</a></li> <li><a href="/wiki/Water_conservation" title="Water conservation">Water conservation</a></li> <li><a href="/wiki/Water_heat_recycling" title="Water heat recycling">Water heat recycling</a></li> <li><a href="/wiki/Water_recycling_shower" title="Water recycling shower">Water recycling shower</a></li> <li><a href="/wiki/Water-sensitive_urban_design" title="Water-sensitive urban design">Water-sensitive urban design</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Accountability</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Corporate_environmental_responsibility" title="Corporate environmental responsibility">Corporate environmental responsibility</a></li> <li><a href="/wiki/Corporate_social_responsibility" title="Corporate social responsibility">Corporate social responsibility</a></li> <li><a href="/wiki/Environmental_accounting" title="Environmental accounting">Environmental accounting</a></li> <li><a href="/wiki/Environmental_full-cost_accounting" title="Environmental full-cost accounting">Environmental full-cost accounting</a></li> <li><a href="/wiki/Environmental_planning" title="Environmental planning">Environmental planning</a></li> <li><a href="/wiki/Sustainability" title="Sustainability">Sustainability</a> <ul><li><a href="/wiki/Sustainability_accounting" title="Sustainability accounting">Accounting</a></li> <li><a href="/wiki/Sustainability_measurement" title="Sustainability measurement">Measurement</a></li> <li><a href="/wiki/Sustainability_metrics_and_indices" title="Sustainability metrics and indices">Metrics and indices</a></li> <li><a href="/wiki/Sustainability_reporting" title="Sustainability reporting">Reporting</a></li> <li><a href="/wiki/Sustainability_standards_and_certification" title="Sustainability standards and certification">Standards and certification</a></li></ul></li> <li><a href="/wiki/Sustainable_yield" title="Sustainable yield">Sustainable yield</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Applications</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Sustainable_advertising" class="mw-redirect" title="Sustainable advertising">Advertising</a></li> <li><a href="/wiki/Sustainable_art" title="Sustainable art">Art</a></li> <li><a href="/wiki/Sustainable_business" title="Sustainable business">Business</a></li> <li><a href="/wiki/Sustainable_city" title="Sustainable city">City</a></li> <li><a href="/wiki/Climate_finance" title="Climate finance">Climate finance</a></li> <li><a href="/wiki/Sustainable_community" title="Sustainable community">Community</a></li> <li><a href="/wiki/Disinvestment" title="Disinvestment">Disinvestment</a></li> <li><a href="/wiki/Eco-capitalism" title="Eco-capitalism">Eco-capitalism</a></li> <li><a href="/wiki/Eco-cities" title="Eco-cities">Eco-cities</a></li> <li><a href="/wiki/Eco-investing" title="Eco-investing">Eco-investing</a></li> <li><a href="/wiki/Eco-socialism" title="Eco-socialism">Eco-socialism</a></li> <li><a href="/wiki/Ecovillage" title="Ecovillage">Ecovillage</a></li> <li><a href="/wiki/Environmental_finance" title="Environmental finance">Environmental finance</a></li> <li><a href="/wiki/Green_economy" title="Green economy">Green economy</a> <ul><li><a href="/wiki/Sustainability_in_construction" title="Sustainability in construction">Construction</a></li> <li><a href="/wiki/Sustainable_fashion" title="Sustainable fashion">Fashion</a></li> <li><a href="/wiki/Sustainable_finance" title="Sustainable finance">Finance</a></li></ul></li> <li><a href="/wiki/Sustainable_gardening" title="Sustainable gardening">Gardening</a></li> <li><a href="/wiki/Geopark" title="Geopark">Geopark</a></li> <li><a href="/wiki/Environmentally_friendly" title="Environmentally friendly">Green</a> <ul><li><a href="/wiki/Green_development" title="Green development">Development</a></li> <li><a href="/wiki/Green_infrastructure" title="Green infrastructure">Infrastructure</a></li> <li><a href="/wiki/Green_marketing" title="Green marketing">Marketing</a></li></ul></li> <li><a href="/wiki/Green_roof" title="Green roof">Green roof</a></li> <li><a href="/wiki/Greening" title="Greening">Greening</a></li> <li><a href="/wiki/Impact_investing" title="Impact investing">Impact investing</a></li> <li><a href="/wiki/Sustainable_landscape_architecture" title="Sustainable landscape architecture">Landscape</a></li> <li><a href="/wiki/Sustainable_livelihood" title="Sustainable livelihood">Livelihood</a></li> <li><a href="/wiki/Sustainable_living" title="Sustainable living">Living</a></li> <li><a href="/wiki/Sustainable_market" class="mw-redirect" title="Sustainable market">Market</a></li> <li><a href="/wiki/Organic_movement" title="Organic movement">Organic movement</a></li> <li><a href="/wiki/Sustainability_organizations" class="mw-redirect" title="Sustainability organizations">Organizations</a></li> <li><a href="/wiki/Sustainable_procurement" title="Sustainable procurement">Procurement</a></li> <li><a href="/wiki/Sustainable_refurbishment" title="Sustainable refurbishment">Refurbishment</a></li> <li><a href="/wiki/Socially_responsible_business" title="Socially responsible business">Socially responsible business</a></li> <li><a href="/wiki/Socially_responsible_marketing" title="Socially responsible marketing">Socially responsible marketing</a></li> <li><a href="/wiki/Sustainable_sanitation" title="Sustainable sanitation">Sanitation</a></li> <li><a href="/wiki/Sustainable_sourcing" title="Sustainable sourcing">Sourcing</a></li> <li><a href="/wiki/Space_sustainability" title="Space sustainability">Space</a></li> <li><a href="/wiki/Sustainability_organization" title="Sustainability organization">Sustainability organization</a></li> <li><a href="/wiki/Sustainable_tourism" title="Sustainable tourism">Tourism</a></li> <li><a href="/wiki/Sustainable_transport" title="Sustainable transport">Transport</a></li> <li><a href="/wiki/Sustainable_urban_drainage_systems" class="mw-redirect" title="Sustainable urban drainage systems">Urban drainage systems</a></li> <li><a href="/wiki/Sustainable_urban_infrastructure" title="Sustainable urban infrastructure">Urban infrastructure</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Sustainable_management" title="Sustainable management">Sustainable management</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Sustainability_and_environmental_management" title="Sustainability and environmental management">Environmental</a></li> <li><a href="/wiki/Fisheries_management" title="Fisheries management">Fisheries</a></li> <li><a href="/wiki/Sustainable_forest_management" class="mw-redirect" title="Sustainable forest management">Forest</a></li> <li><a href="/wiki/Humanistic_capitalism" title="Humanistic capitalism">Humanistic capitalism</a></li> <li><a href="/wiki/Integrated_landscape_management" class="mw-redirect" title="Integrated landscape management">Landscape</a></li> <li><a href="/wiki/Sustainable_materials_management" title="Sustainable materials management">Materials</a></li> <li><a href="/wiki/Natural_resource_management" title="Natural resource management">Natural resource</a></li> <li><a href="/wiki/Planetary_management" title="Planetary management">Planetary</a></li> <li><a href="/wiki/Recycling" title="Recycling">Recycling</a></li> <li><a href="/wiki/Waste_management" title="Waste management">Waste</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Agreements and <br />conferences</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/United_Nations_Conference_on_the_Human_Environment" title="United Nations Conference on the Human Environment"><span class="wrap">UN Conference on the Human Environment (Stockholm 1972)</span></a></li> <li><a href="/wiki/Brundtland_Commission" title="Brundtland Commission">Brundtlandt Commission Report (1983)</a></li> <li><a href="/wiki/Our_Common_Future" title="Our Common Future"><i>Our Common Future</i> (1987)</a></li> <li><a href="/wiki/Earth_Summit" title="Earth Summit">Earth Summit (1992)</a></li> <li><a href="/wiki/Rio_Declaration_on_Environment_and_Development" title="Rio Declaration on Environment and Development">Rio Declaration on Environment and Development</a> (1992)</li> <li><a href="/wiki/Agenda_21" title="Agenda 21">Agenda 21 (1992)</a></li> <li><a href="/wiki/Convention_on_Biological_Diversity" title="Convention on Biological Diversity">Convention on Biological Diversity (1992)</a></li> <li><a href="/wiki/Lisbon_Principles" title="Lisbon Principles">Lisbon Principles</a> (1997)</li> <li><a href="/wiki/Earth_Charter" title="Earth Charter">Earth Charter</a> (2000)</li> <li><a href="/wiki/United_Nations_Millennium_Declaration" title="United Nations Millennium Declaration">UN Millennium Declaration (2000)</a></li> <li><a href="/wiki/Earth_Summit_2002" title="Earth Summit 2002">Earth Summit 2002</a> (Rio+10, Johannesburg)</li> <li><a href="/wiki/United_Nations_Conference_on_Sustainable_Development" title="United Nations Conference on Sustainable Development">UN Conference on Sustainable Development</a> (Rio+20, 2012)</li> <li><a href="/wiki/Sustainable_Development_Goals" title="Sustainable Development Goals">Sustainable Development Goals</a> (2015)</li></ul> </div></td></tr><tr><td class="navbox-abovebelow" colspan="2"><div> <ul><li><span class="noviewer" typeof="mw:File"><span title="Category"><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/16px-Symbol_category_class.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/23px-Symbol_category_class.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/31px-Symbol_category_class.svg.png 2x" data-file-width="180" data-file-height="185" /></span></span> <b><a href="/wiki/Category:Sustainability" title="Category:Sustainability">Category</a></b></li> <li><span class="noviewer" typeof="mw:File"><span title="List-Class article"><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/d/db/Symbol_list_class.svg/16px-Symbol_list_class.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/d/db/Symbol_list_class.svg/23px-Symbol_list_class.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/d/db/Symbol_list_class.svg/31px-Symbol_list_class.svg.png 2x" data-file-width="180" data-file-height="185" /></span></span> <b><a href="/wiki/Category:Sustainability_lists" title="Category:Sustainability lists">Lists</a></b></li> <li><b><a href="/wiki/Sustainability_science" title="Sustainability science">Science</a></b></li> <li><b><a href="/wiki/Sustainability_studies" title="Sustainability studies">Studies</a></b></li> <li><b><a href="/wiki/List_of_environmental_degrees" title="List of environmental degrees">Degrees</a></b></li></ul> </div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"></div><div role="navigation" class="navbox" aria-labelledby="Natural_resources" style="padding:3px"><table class="nowraplinks hlist mw-collapsible autocollapse navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Natural_resources" title="Template:Natural resources"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Natural_resources" title="Template talk:Natural resources"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Natural_resources" title="Special:EditPage/Template:Natural resources"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Natural_resources" style="font-size:114%;margin:0 4em"><a href="/wiki/Natural_resource" title="Natural resource">Natural resources</a></div></th></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Atmosphere_of_Earth" title="Atmosphere of Earth">Air</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:7.0em;font-weight:normal;"><a href="/wiki/Air_pollution" title="Air pollution">Pollution / quality</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/National_Ambient_Air_Quality_Standards" title="National Ambient Air Quality Standards">Ambient standards <span style="font-size:85%;">(US)</span></a></li> <li><a href="/wiki/Air_quality_index" title="Air quality index">Index</a></li> <li><a href="/wiki/Indoor_air_quality" title="Indoor air quality">Indoor</a></li> <li><a href="/wiki/Air_quality_law" title="Air quality law">Law</a> <ul><li><a href="/wiki/Clean_Air_Act_(United_States)" title="Clean Air Act (United States)">Clean Air Act <span style="font-size:85%;">(US)</span></a></li></ul></li> <li><a href="/wiki/Ozone_depletion" title="Ozone depletion">Ozone depletion</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:7.0em;font-weight:normal;">Emissions</th><td class="navbox-list-with-group navbox-list navbox-even" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Airshed" title="Airshed">Airshed</a></li> <li><a class="mw-selflink selflink">Trading</a></li> <li><a href="/wiki/Reducing_emissions_from_deforestation_and_forest_degradation" class="mw-redirect" title="Reducing emissions from deforestation and forest degradation">Deforestation (REDD)</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Energy" title="Energy">Energy</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Bioenergy" title="Bioenergy">Bio</a></li> <li><a href="/wiki/Energy_law" title="Energy law">Law</a></li> <li><a href="/wiki/Energy_resources" class="mw-redirect" title="Energy resources">Resources</a></li> <li><a href="/wiki/Fossil_fuel" title="Fossil fuel">Fossil fuels</a> (<a href="/wiki/Fuel_gas" title="Fuel gas">gas</a>, <a href="/wiki/Peak_coal" title="Peak coal">peak coal</a>, <a href="/wiki/Peak_gas" title="Peak gas">peak gas</a>, <a href="/wiki/Peak_oil" title="Peak oil">peak oil</a>)</li> <li><a href="/wiki/Geothermal_energy" title="Geothermal energy">Geothermal</a></li> <li><a href="/wiki/Hydropower" title="Hydropower">Hydro</a></li> <li><a href="/wiki/Nuclear_power" title="Nuclear power">Nuclear</a></li> <li><a href="/wiki/Solar_energy" title="Solar energy">Solar</a> <ul><li><a href="/wiki/Sunlight" title="Sunlight">sunlight</a></li> <li><a href="/wiki/Shade_(shadow)" title="Shade (shadow)">shade</a></li></ul></li> <li><a href="/wiki/Wind_power" title="Wind power">Wind</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Land" title="Land">Land</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Agricultural_land" title="Agricultural land">Agricultural</a> <ul><li><a href="/wiki/Arable_land" title="Arable land">arable</a> <ul><li><a href="/wiki/Peak_farmland" title="Peak farmland">peak farmland</a></li></ul></li></ul></li> <li><a href="/wiki/Land_degradation" title="Land degradation">Degradation</a></li> <li><a href="/wiki/Field_(agriculture)" title="Field (agriculture)">Field</a></li> <li><a href="/wiki/Landscape" title="Landscape">Landscape</a> <ul><li><a href="/wiki/Cityscape" title="Cityscape">cityscape</a></li> <li><a href="/wiki/Seascape" title="Seascape">seascape</a></li> <li><a href="/wiki/Soundscape" title="Soundscape">soundscape</a></li> <li><a href="/wiki/Viewshed" title="Viewshed">viewshed</a></li></ul></li> <li><a href="/wiki/Land_law" title="Land law">Law</a> <ul><li><a href="/wiki/Property_law" title="Property law">property</a></li></ul></li> <li><a href="/wiki/Land_management" title="Land management">Management</a> <ul><li><a href="/wiki/Habitat_conservation" title="Habitat conservation">habitat conservation</a></li></ul></li> <li><a href="/wiki/Mineral" title="Mineral">Minerals</a> <ul><li><a href="/wiki/Gemstone" title="Gemstone">gemstone</a></li> <li><a href="/wiki/Industrial_mineral" title="Industrial mineral">industrial</a></li> <li><a href="/wiki/Ore" title="Ore">ore</a> <ul><li><a href="/wiki/Metal" title="Metal">metal</a></li></ul></li> <li><a href="/wiki/Mining" title="Mining">mining</a> <ul><li><a href="/wiki/Mining_law" title="Mining law">law</a></li> <li><a href="/wiki/Sand_mining" title="Sand mining">sand</a></li></ul></li> <li><a href="/wiki/Peak_minerals" title="Peak minerals">peak</a> <ul><li><a href="/wiki/Peak_copper" class="mw-redirect" title="Peak copper">copper</a></li> <li><a href="/wiki/Peak_phosphorus" class="mw-redirect" title="Peak phosphorus">phosphorus</a></li></ul></li> <li><a href="/wiki/Mineral_rights" title="Mineral rights">rights</a></li></ul></li> <li><a href="/wiki/Soil" title="Soil">Soil</a> <ul><li><a href="/wiki/Soil_conservation" title="Soil conservation">conservation</a></li> <li><a href="/wiki/Soil_fertility" title="Soil fertility">fertility</a></li> <li><a href="/wiki/Soil_health" title="Soil health">health</a></li> <li><a href="/wiki/Soil_resilience" title="Soil resilience">resilience</a></li></ul></li> <li><a href="/wiki/Land_use" title="Land use">Use</a> <ul><li><a href="/wiki/Land-use_planning" title="Land-use planning">planning</a></li> <li><a href="/wiki/Open_space_reserve" title="Open space reserve">reserve</a></li></ul></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Life" title="Life">Life</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Biodiversity" title="Biodiversity">Biodiversity</a></li> <li><a href="/wiki/Bioprospecting" title="Bioprospecting">Bioprospecting</a> <ul><li><a href="/wiki/Biopiracy" title="Biopiracy">biopiracy</a></li></ul></li> <li><a href="/wiki/Biosphere" title="Biosphere">Biosphere</a></li> <li><a href="/wiki/Bushfood" class="mw-redirect" title="Bushfood">Bushfood</a></li> <li><a href="/wiki/Bushmeat" title="Bushmeat">Bushmeat</a></li> <li><a href="/wiki/Fishery" title="Fishery">Fisheries</a> <ul><li><a href="/wiki/Climate_change_and_fisheries" title="Climate change and fisheries">climate change</a></li> <li><a href="/wiki/Fisheries_law" title="Fisheries law">law</a></li> <li><a href="/wiki/Fisheries_management" title="Fisheries management">management</a></li></ul></li> <li><a href="/wiki/Forest" title="Forest">Forests</a> <ul><li><a href="/wiki/Forest_genetic_resources" title="Forest genetic resources">genetic resources</a></li> <li><a href="/wiki/Forestry_law" title="Forestry law">law</a></li> <li><a href="/wiki/Forest_management" title="Forest management">management</a></li> <li><a href="/wiki/Non-timber_forest_product" title="Non-timber forest product">non-timber products</a></li></ul></li> <li><a href="/wiki/Game_(food)" class="mw-redirect" title="Game (food)">Game</a> <ul><li><a href="/wiki/Game_law" title="Game law">law</a></li></ul></li> <li><a href="/wiki/Marine_conservation" title="Marine conservation">Marine conservation</a></li> <li><a href="/wiki/Meadow" title="Meadow">Meadow</a></li> <li><a href="/wiki/Pasture" title="Pasture">Pasture</a></li> <li><a href="/wiki/Plant" title="Plant">Plants</a> <ul><li><a href="/wiki/Plant_Treaty" class="mw-redirect" title="Plant Treaty">FAO Plant Treaty</a></li> <li><a href="/wiki/Food" title="Food">food</a></li> <li><a href="/wiki/Plant_genetic_resources" title="Plant genetic resources">genetic resources</a></li> <li><a href="/wiki/Gene_bank" title="Gene bank">gene banks</a></li> <li><a href="/wiki/List_of_plants_used_in_herbalism" title="List of plants used in herbalism">herbal medicines</a></li> <li><a href="/wiki/UPOV" class="mw-redirect" title="UPOV">UPOV Convention</a></li> <li><a href="/wiki/Wood" title="Wood">wood</a></li></ul></li> <li><a href="/wiki/Rangeland" title="Rangeland">Rangeland</a></li> <li><a href="/wiki/Seed_bank" title="Seed bank">Seed bank</a></li> <li><a href="/wiki/Wildlife" title="Wildlife">Wildlife</a> <ul><li><a href="/wiki/Wildlife_conservation" title="Wildlife conservation">conservation</a></li> <li><a href="/wiki/Wildlife_management" title="Wildlife management">management</a></li></ul></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Water" title="Water">Water</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:7.0em;font-weight:normal;">Types / location</th><td class="navbox-list-with-group navbox-list navbox-even" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Aquifer" title="Aquifer">Aquifer</a> <ul><li><a href="/wiki/Aquifer_storage_and_recovery" title="Aquifer storage and recovery">storage and recovery</a></li></ul></li> <li><a href="/wiki/Drinking_water" title="Drinking water">Drinking</a></li> <li><a href="/wiki/Fresh_water" title="Fresh water">Fresh</a></li> <li><a href="/wiki/Groundwater" title="Groundwater">Groundwater</a> <ul><li><a href="/wiki/Groundwater_pollution" title="Groundwater pollution">pollution</a></li> <li><a href="/wiki/Groundwater_recharge" title="Groundwater recharge">recharge</a></li> <li><a href="/wiki/Groundwater_remediation" title="Groundwater remediation">remediation</a></li></ul></li> <li><a href="/wiki/Hydrosphere" title="Hydrosphere">Hydrosphere</a></li> <li><a href="/wiki/Ice" title="Ice">Ice</a> <ul><li><a href="/wiki/Iceberg" title="Iceberg">bergs</a></li> <li><a href="/wiki/Glacier" title="Glacier">glacial</a></li> <li><a href="/wiki/Polar_ice_cap" title="Polar ice cap">polar</a></li></ul></li> <li><a href="/wiki/Irrigation" title="Irrigation">Irrigation</a> <ul><li><i><a href="/wiki/Huerta" title="Huerta">huerta</a></i></li></ul></li> <li><a href="/wiki/Marine_resources" title="Marine resources">Marine</a></li> <li><a href="/wiki/Rain" title="Rain">Rain</a> <ul><li><a href="/wiki/Rainwater_harvesting" title="Rainwater harvesting">harvesting</a></li></ul></li> <li><a href="/wiki/Stormwater" title="Stormwater">Stormwater</a></li> <li><a href="/wiki/Surface_water" title="Surface water">Surface water</a></li> <li><a href="/wiki/Sewage" title="Sewage">Sewage</a> <ul><li><a href="/wiki/Reclaimed_water" title="Reclaimed water">reclaimed water</a></li></ul></li> <li><a href="/wiki/Drainage_basin" title="Drainage basin">Watershed</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:7.0em;font-weight:normal;">Aspects</th><td class="navbox-list-with-group navbox-list navbox-odd" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Desalination" title="Desalination">Desalination</a></li> <li><a href="/wiki/Flood" title="Flood">Floods</a></li> <li><a href="/wiki/Water_law" class="mw-redirect" title="Water law">Law</a></li> <li><a href="/wiki/Leaching_(agriculture)" title="Leaching (agriculture)">Leaching</a></li> <li><a href="/wiki/Sanitation" title="Sanitation">Sanitation</a> <ul><li><a href="/wiki/Improved_sanitation" title="Improved sanitation">improved</a></li></ul></li> <li><a href="/wiki/Water_scarcity" title="Water scarcity">Scarcity</a></li> <li><a href="/wiki/Water_security" title="Water security">Security</a></li> <li><a href="/wiki/Water_supply" title="Water supply">Supply</a></li> <li><a href="/wiki/Water_efficiency" title="Water efficiency">Efficiency</a></li> <li><a href="/wiki/Water_conflict" title="Water conflict">Conflict</a></li> <li><a href="/wiki/Water_conservation" title="Water conservation">Conservation</a></li> <li><a href="/wiki/Peak_water" title="Peak water">Peak water</a></li> <li><a href="/wiki/Water_pollution" title="Water pollution">Pollution</a></li> <li><a href="/wiki/Water_privatization" title="Water privatization">Privatization</a></li> <li><a href="/wiki/Water_quality" title="Water quality">Quality</a></li> <li><a href="/wiki/Water_right" title="Water right">Right</a></li> <li><a href="/wiki/Water_resources" title="Water resources">Resources</a> <ul><li><a href="/wiki/Improved_water_source" title="Improved water source">improved</a></li> <li><a href="/wiki/Water_resource_policy" title="Water resource policy">policy</a></li></ul></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Related</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><td colspan="2" class="navbox-list navbox-even" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Commons" title="Commons">Commons</a> <ul><li><a href="/wiki/Enclosure" title="Enclosure">enclosure</a></li> <li><a href="/wiki/Global_commons" title="Global commons">global</a></li> <li><a href="/wiki/Common_land" title="Common land">land</a></li> <li><a href="/wiki/Tragedy_of_the_commons" title="Tragedy of the commons">tragedy of</a></li></ul></li> <li><a href="/wiki/Natural_resource_economics" title="Natural resource economics">Economics</a> <ul><li><a href="/wiki/Ecological_economics" title="Ecological economics">ecological</a></li> <li><a href="/wiki/Land_(economics)" title="Land (economics)">land</a></li></ul></li> <li><a href="/wiki/Ecosystem_services" class="mw-redirect" title="Ecosystem services">Ecosystem services</a></li> <li><a href="/wiki/Exploitation_of_natural_resources" title="Exploitation of natural resources">Exploitation</a> <ul><li><a href="/wiki/Overexploitation" title="Overexploitation">overexploitation</a></li> <li><a href="/wiki/Earth_Overshoot_Day" title="Earth Overshoot Day">Earth Overshoot Day</a></li></ul></li> <li><a href="/wiki/Natural_resource_management" title="Natural resource management">Management</a> <ul><li><a href="/wiki/Adaptive_management" title="Adaptive management">adaptive</a></li></ul></li> <li><a href="/wiki/Natural_capital" title="Natural capital">Natural capital</a> <ul><li><a href="/wiki/Natural_capital_accounting" title="Natural capital 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