Cap and Trade: An Effective Tool forEnvironmental Management

摘要

@@ The UCGEC conference session on cap and trade, moderated by Dr. Robert E. Larson, discussed the use of market mechanisms from an international perspective and addressed their usefulness as a potential tool for China to achieve its environmental objectives. The presentation emphasized success factors, revealing the essential elements of good cap and trade system design, as well as the potential pitfalls of previous implementations. The lessons learned in the US, with the Acid Rain Program, and other programs in Europe, with the EU emissions trading scheme, were reviewed.