Scientists generally conclude that rising concentrations of
greenhouse gases are warming the Earth's climate. Concern about the
damage that might result has led policymakers and analysts to
consider policies designed to restrict emissions of those gases.
One type of policy, a cap-and-trade program, could minimise the
cost of achieving a limit, or cap, on emissions by allowing market
forces to determine where, how, and to some extent when the cuts in
emissions necessary to achieve the cap would be made. This new book
examines the potential effects of features that would help manage
allowance prices, and thus the cost of complying with a
cap-and-trade program.
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