1. Introduction:
Carbon emission trading schemes (ETS) have been implemented all over the world as a means to limit the production of greenhouse gases (GHGs). There currently exists an extensive variety of these carbon trading schemes, each with their own strengths and weaknesses. ETS have been used for other air pollutants prior to their application to greenhouse gases. Emissions credit trading in the United States has existed since 1977. (Tietenburg et al. 1998, 6)
One of the world’s largest and most successful ETS, was established in 1990 under the Acid Rain program of the United States Clear Air Act amendments. (Tietenburg et al. 1998, 6) The Acid Rain program differed from its predecessors in that it was a cap-and-trade program and, as a result, yielded far more success.
The first Carbon ETS was implemented by the BP Corporation, which looked into the idea internally to reduce its own emissions and implemented it in 1998. (Betsill & Hoffman 2011, 90) The negotiations at Kyoto in 1997 also set the framework for an international ETS that was truly global in its scale, though it would not be implemented until 2008. After the Kyoto negotiations and the implementation of its own ETS, many other countries and private firms began to explore their own ETS. In 1998, Shell, Norway, Canada, New South Wales in Australia, and the United Kingdom all began initial discussions on implementing cap-and-trade GHG ETS. (Betsill & Hoffman 2011, 90)
As of 2009, thirteen ETS have reached the trading phase of their implementation. (Betsill & Hoffman 201, 93) They include the BP ETS (implemented 1998), Kyoto Protocol ETS (2008), Shell ETS (2002), United Kingdom ETS (2001), Norway ETS (2005), New South Wales ETS (2003), Denmark ETS (2000), European...
... middle of paper ...
...l Emissions Trading.” Date accessed April 14. http://unfccc.int/kyoto_protocol/mechanisms/emissions_trading/items/2731.php
United States Environmental Protection Agency. 2013. 2013 Revisions to the Greenhouse Gas Reporting Rule and Final Confidentiality Determinations for New or Substantially Revised Data Elements. Washington, DC. http://www.epa.gov/ghgreporting/documents/pdf/2013/documents/2013-data-elements.pdf
Voreacos, David and Justin Doom. 2014. “Christie Greenhouse Changes Violate N.J. Law, Court Says.” Bloomberg. Last modified March 26. http://www.bloomberg.com/news/2014-03-25/new-jersey-ordered-by-court-to-repeal-or-amend-pollution-rules.html
Western Climate Initiative. 2010. “Updated Economic Analysis of the WCI Regional Cap and Trade Program.” Western Climate Initiative. http://www.westernclimateinitiative.org/component/remository/func-startdown/265/
The issue presented in this paper is how one can aim to reduce the amounts released, and what the best ways to solve this problem are. This has been long debated amongst scientists, businessmen, Industry-owners, and politicians amongst many other eminent figures in society. The four major approaches to reducing carbon dioxide in the atmosphere include: subsidies of alternative energy, cap and trade, carbon taxes, and command and control regulation. We will examine and compare the effectiveness of two of these methods: The carb...
In 2013, the European Union signed a trading pact with Canada in order both sides to increase their foreign market export and boost their economy sectors. This paper will examine the purpose of CETA and its impact on Canadian industry. The focus will be on food, drug, forestry, marine, and mining industries including water supplies in Canada.
The Environmental Protection Agency, or EPA is the result of a 1970 executive order by President Richard Nixon for the purpose of protecting the environment of the United States through regulation on business and citizens. Public opinion on the Environmental Protection Agency has been divided fairly evenly across the population of the United States as of recently, as compared to the widespread public concern of the 50’s and 60’s that led to the agency’s creation. Recently the agency has come under scrutiny for its contributions of millions of dollars in grants to researchers in order to hide the potential trade off of its actions in order to further the agency’s agenda. The EPA’s ever-expanding regulation could end up harming more than it actually
The Clean Air Act of 1970 APU: BUSI 522 Michelle Manning September 22, 2015 The Clean Air Act of 1970 Introduction The Environmental Protection Agency (EPA) regulates air pollution through various policies passed through the Supreme Court. The scope of this paper is to investigate the Clean Air Act of 1970, and to analyze the impact it has on businesses and society. It provides a rationale for the policy, and contains a brief overview of governmental involvement in regulating air pollution.
U.S. Enviromental Protection Agency. (2011, January 13). Retrieved January 20, 2011, from Summary of the Clean Air Act 42 U.S.C. §7401 et seq. (1970): http://www.epa.gov/lawsregs/laws/caa.html
United States Environmental Protection Agency (US EPA) . "Tools of the Trade: A Guide to Designing and Operating a Cap and Trade Program for Pollution Control." (2003): Web. 24 Apr 2010. .
David, Suzuki. “Carbon Offsets Are One of Many Solutions Needed for Global Warming.” Current Controversies: Carbon Offsets. Ed. Debra A. Miller. Detroit: Greenhaven Press, 2009. Print.
Novak, Mary H. (1998, July 24). Kyoto Treaty A Giant Leap into the Economic Abyss. Houston Business Journal, 29 (10), p. 27A. [Online]. Available: http://insite.palni.edu/WebZ/Authorize:sessionid=0.
“At present, the global system for carbon emissions trading is embodied in the Kyoto Treaty,” said Al Gore, which points out that Global Warming is not a national problem, but global problem. The Kyoto Treaty states that parties involved will reduce greenhouse emissions in their nation (United Nations). These facts introduce the idea of transforming this perilous world into an innocuous one. It supports his claim for having a preferable future for all, where there will be no droughts, devastations, deaths, or poverties due to global warming. His repetition of the word “reduce” engages the audience of having a solution to climate change. Mr. Gore continues with his ideas to reduce Global Warming by saying, “...Carbon Capture and Sequestration (CSS)...will play a significant...role as one of the major blocks of a solution to climate crisis.” This fact is an example of a paradox as before this statement he mentioned that CSS, a method to capture the CO2 burned from the burning coal, is an expensive method which most companies resist from using. His use of paradoxes throughout his speech makes the audience rethink their opinions. These statistics are part of many other logically statements that Mr. Gore used to support his claim. Some of these logical procedures include; electronic cars, reduction of renewable
In May of 1950 the first United States Technical Conference on Air Pollution was established, but it wasn’t until July 14, 1955 that Congress passed the first piece of legislation, the Air Pollution Control Act of 1955 (P.L. 84-159) signed by President Eisenhower. This first piece of legislation addressed pollution at its source and provided “research and technical assistance relating to air pollution control” (P.L. 159). It also assigned $5 million on annual funds for federal research on air pollution for the next five years. These funds had to be shared with states and educational institutions to assist in their own research on air pollution; by 1956, only $2 million of the approved $5 million were appropriated for research and technical assistance. The most influx of money was received in 1958 when Congress appropriated $4 million (Reitze).
UNEP. 2013. Green Economy and Trade: Trends, Challenges and Opportunities. [online] Available at: http://www.unep.org/greeneconomy/Portals/88/GETReport/pdf/Chapitre%207%20Tourism.pdf[Accessed: 5 Nov 2013].
Tietenberg, Thomas. Environmental and Natural Resource Economics. Addison Wesley: New York, 2003. pp. 561. ISBN 0-201-77027-X, pp. 7-11.
... Carbon Market is a form of trading that specifically targets carbon dioxide (calculated in tonnes of carbon dioxide) and is the bulk of emissions trading. Carbon trading is a common method countries use to meet their obligations from the Kyoto Protocol, which involves an attempt to reduce future climate change.
Maeda, Risa. "Japan Shelves Carbon Emissions Trading Scheme." Reuters. Thomson Reuters, 28 Dec. 2010. Web. 15 May 2014.
Stern, Nicholas. “The Stern Review on the Economics of Climate Change,” Report for Her Majesty's