Pollution market | Wikipedia audio article
Channel: wikipedia tts
Date: 2019-05-15

This is an audio version of the Wikipedia Article:
https://en.wikipedia.org/wiki/Emissions_trading


00:04:29 1 Overview
00:09:04 2 History
00:17:17 3 Market and least-cost
00:19:46 3.1 Emission markets
00:24:19 3.2 Pollution markets
00:29:27 4 Public opinion
00:31:49 5 Comparison with other methods of emission reduction
00:33:00 5.1 Baseline and credit
00:33:36 5.2 Pollution tax
00:38:57 5.3 Command-and-control regulation
00:40:05 6 Economics of international emissions trading
00:41:06 6.1 Example
00:42:31 6.2 Applying the economic theory
00:46:28 6.3 Prices versus quantities, and the safety valve
00:48:56 6.4 Carbon leakage
00:54:59 6.5 Trade
00:57:36 7 Trading systems
01:00:06 7.1 Kyoto Protocol
01:00:16 7.2 Australia
01:07:03 7.3 New Zealand
01:11:10 7.4 European Union
01:16:35 7.5 Tokyo, Japan
01:22:54 7.6 United States
01:25:24 7.6.1 Sulfur dioxide
01:25:34 7.6.2 Nitrogen oxides
01:27:50 7.6.3 Volatile organic compounds
01:30:54 7.6.4 Greenhouse gases (federal)
01:32:30 7.6.5 State and regional programs
01:35:35 7.7 South Korea
01:40:33 7.8 China
01:41:36 7.8.1 Pollution Permit Trading
01:41:45 7.8.2 Carbon Market
01:43:49 7.9 India
01:46:58 7.9.1 Renewable energy certificates
01:47:56 8 Carbon market
01:48:40 8.1 Market trend
01:49:21 8.2 Business reaction
01:53:02 9 Measuring, reporting, verification
01:56:24 10 Enforcement
01:57:57 11 Criticism
02:01:25 11.1 Offsets
02:04:42 11.2 Permit supply level
02:05:24 11.3 Permit allocation versus auctioning
02:06:26 11.4 Distributional effects
02:08:18 12 Linking
02:09:07 13 See also



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SUMMARY
=======
Emissions trading (also known as cap and trade) is a market-based approach to controlling pollution by providing economic incentives for achieving reductions in the emissions of pollutants.A central authority (usually a governmental body) allocates or sells a limited number of permits to discharge specific quantities of a specific pollutant per time period. Polluters are required to hold permits in amount equal to their emissions. Polluters that want to increase their emissions must buy permits from others willing to sell them. Financial derivatives of permits can also be traded on secondary markets.Various countries, states and groups of companies have adopted such trading systems, notably for mitigating climate change.In contrast to command-and-control environmental regulations such as best available technology (BAT) standards and government subsidies, cap and trade (CAT) programs are a type of flexible environmental regulation that allows organizations to decide how best to meet policy targets.
There are active trading programs in several air pollutants. For greenhouse gases, which cause climate change, permit units are often called carbon credits. The largest greenhouse gases (GHG) trading program is the European Union Emission Trading Scheme, which trades primarily in European Union Allowances (EUAs); the Californian scheme trades in California Carbon Allowances, the New Zealand scheme in New Zealand Units and the Australian scheme in Australian Units. The United States has a national market to reduce acid rain and several regional markets in nitrogen oxides. Recent reduction in California's GHG emissions are not attributed to carbon trading but to other factors such as renewable portfolio standards and energy efficiency policies; the 'cap' in California has been and continues to be larger than actual emission rates. GHG emissions increased at more than half of industrial point sources regulated by California's cap and trade program from 2013 to 2015.In theory, polluters who can reduce emissions most cheaply will do so, achieving the emission reduction at the lowest cost to society.  Cap and trade is meant to provide the private sector with the flexibility required to reduce emissions while stimulating technological innovation and eco ...