GEOS2121 Lecture Notes - Lecture 19: Reducing Emissions From Deforestation And Forest Degradation, Market Failure, Ecosystem Services
14 Nov 2018
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Carbon markets and carbon trading: introducing redd credits. Re(cid:272)all: (cid:862)the greatest a(cid:374)d (cid:449)idest-ra(cid:374)gi(cid:374)g (cid:373)arket failure e(cid:448)er(cid:863) Cap and trade) are generally favoured by the market. Introduction of cap (sets a limit) allocation of rights and licenses trading of licenses government enforcement most efficient reduction (because cheapest least economic impact) Vary in scope: some focuses on the electricity sector, others on a broader context. Eu: 1st large greenhouse gas emissions trading scheme in the world: launched in 2005. Important source of information and reference for other ets implementation: now covers more than 11,000 factories, power stations and other installations in all. 28 eu member states (plus iceland, norway, liechtenstein) United states: no nationwide program, but at least 9 ets in state power sectors since 2009 (ex. China: several provincial ets prior to the national cap and trade scheme launched in 2017 (largest ets)
