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Strengthening Victoria`s Climate Laws
Strengthening Victoria`s Climate Laws

... Improve accountability and transparency on efforts to cut emissions; Ensure all arms of government are factoring climate change impacts and emissions reductions into their decision-making and policy setting. ...
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An Taisce - Houses of the Oireachtas
An Taisce - Houses of the Oireachtas

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Item 5 - Government Consultation On the Draft Climate Change Bill
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The Kyoto Protocol and Global Climate Change
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... progress with achieving the collective target of 8% reductions has been protracted. Indeed, according to the latest projections, based on policies and measures already in place, EU-15 emissions are expected to decline by only 0.6% in 2010. If additional measures that have been agreed at national and ...
FP7 Starting Independent Researcher Grant: Ideas and dates
FP7 Starting Independent Researcher Grant: Ideas and dates

... schemes is derived from the instrumental benefit of achieving any given global carbon budget at the lowest possible economic cost rather than from any intrinsic value that the scheme itself might possess (Sorrell and Sijm, 2005, p.195; Mehling, 2005). Cap-andtrade schemes can be contrasted with ‘cre ...
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Key Elements for Success on Climate Change Mitigation at COP21

... Governments should therefore commit to prepare long-term NDDPs as part of the agreement adopted at COP21 and to nest shorter-term emission reduction strategies within such pathways. These NDDPs would then be submitted to the UNFCCC before the entry into force of the agreement in 2017 or 2018. Develo ...
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... abatement is an often overlooked corollary to Weitzman’s important article, as the focus of the economics profession has been on the ability of marketable pollution permits to reduce the uncertainty in terms of achieving the target level of pollution. However in the current political climate where t ...
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Climate change exercise for grade 10 science students
Climate change exercise for grade 10 science students

... fossil fuels: coal, oil and natural gas. Currently fossil fuels constitute about 85% of energy supply worldwide. Other gases, such as methane, water vapour, ozone, nitrous oxide and chlorofluorocarbons, and other sources such as forest fires, deforestation, agricultural and industrial practices also ...
5.0 long term impacts - California State University Channel Islands
5.0 long term impacts - California State University Channel Islands

... California. Worldwide, the state of California ranks as the 12th to 16th largest emitter of CO2 and is responsible for approximately 2% of the world’s CO2 emissions (CEC, 2006). This large number is due primarily to the sheer size of California compared to other states. By contrast, California has o ...
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Emissions trading



Emissions trading or cap and trade (""cap"" meaning a legal limit on the quantity of a certain type of chemical an economy can emit each year) is a market-based approach used to control pollution by providing economic incentives for achieving reductions in the emissions of pollutants. Various countries, groups of companies, and states have adopted emission trading systems as one of the strategies for mitigating climate-change by addressing international greenhouse-gas emission.A central authority (usually a governmental body) sets a limit or cap on the amount of a pollutant that may be emitted. The limit or cap is allocated and/or sold by the central authority to firms in the form of emissions permits which represent the right to emit or discharge a specific volume of the specified pollutant. Permits (and possibly also derivatives of permits) can then be traded on secondary markets. For example, the EU ETS trades primarily in European Union Allowances (EUAs), the Californian scheme in California Carbon Allowances, the New Zealand scheme in New Zealand Units and the Australian scheme in Australian Units. Firms are required to hold a number of permits (or allowances or carbon credits) equivalent to their emissions. The total number of permits cannot exceed the cap, limiting total emissions to that level. Firms that need to increase their volume of emissions must buy permits from those who require fewer permits.The transfer of permits is referred to as a ""trade"". In effect, the buyer is paying a charge for polluting, while the seller gains a reward for having reduced emissions. Thus, in theory, those who can reduce emissions most cheaply will do so, achieving the pollution reduction at the lowest cost to society.There are active trading programs in several air pollutants. For greenhouse gases the largest is the European Union Emission Trading Scheme, whose purpose is to avoid dangerous climate change. Cap and trade provides the private sector with the flexibility required to reduce emissions while stimulating technological innovation and economic growth. The United States has a national market to reduce acid rain and several regional markets in nitrogen oxides.
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