There is an emissions trading scheme in operation internationally but many people arent aware that this is perceived to be the cornerstone of the climate change policy in the EU and USA.
Firms are set quotas on how much carbon dioxide they can produce per year, if they produce more than this allowance, then they buy an allowance from another firm that has not reached its quota on how much it can produce in one year! Get it?
Emissions Trading is particularly suited to the emissions of greenhouse gases, the gases responsible for global warming, which have the same effect wherever they are emitted.
Emissions of carbon dioxide – a greenhouse gas – are widely thought to be a key factor in global warming, and increasing atmospheric temperatures around the world.
The idea of the carbon-trading scheme was to raise the cost to firms of continuing to pollute while creating a market to give an incentive to become more environmentally efficient. They are traded in a similar way to buying and selling shares, there are a number of companies that offer the buying and selling of carbon units and many offer different commissions and even free trading if...
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