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Books > Social sciences > Politics & government > Central government > Central government policies
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Environmental Commodities Markets and Emissions Trading - Towards a Low-Carbon Future (Paperback, New)
Loot Price: R988
Discovery Miles 9 880
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Environmental Commodities Markets and Emissions Trading - Towards a Low-Carbon Future (Paperback, New)
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Market-based solutions to environmental problems offer great
promise, but require complex public policies that take into account
the many institutional factors necessary for the market to work and
that guard against the social forces that can derail good public
policies. Using insights about markets from the new institutional
economics, this book sheds light on the institutional history of
the emissions trading concept as it has evolved across different
contexts. It makes accessible the policy design and practical
implementation aspects of a key tool for fighting climate change:
emissions trading systems (ETS) for environmental control. Blas
Luis Perez Henriquez analyzes past market-based environmental
programs to extract lessons for the future of ETS. He follows the
development of the emissions trading concept as it evolved in the
United States and was later applied in the multinational European
Emissions Trading System and in sub-national programs in the United
States such as the Regional Greenhouse Gas Initiative (RGGI) and
California's ETS. This ex-post evaluation of an ETS as it evolves
in real time in the real world provides a valuable supplement to
what is already known from theoretical arguments and simulation
studies about the advantages and disadvantages of the market
strategy. Political cycles and political debate over the use of
markets for environmental control make any form of climate policy
extremely contentious. Perez Henriquez argues that, despite
ideological disagreements, the ETS approach, or, more popularly,
'cap-and-trade' policy design, remains the best hope for a
cost-effective policy to reduce GHG emissions around the world.
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