“Cap-and-trade” means a government authority establishes a cap that “Cap-and-trade” means a government authority establishes a cap that and then distributes allowances for “permission to pollute” the global atmosphere, which can be traded as private property. The amount of greenhouse gas emissions permitted declines each year, creating demand for a new commodity: carbon permits.When offered enough money (or faced with high enough costs), polluters who own permits (or need permits) will reduce their emissions.These trades establish a market price for greenhouse gas pollution.
Each chair represents the “permission to pollute”: Each chair represents the “permission to pollute”: one metric ton of carbon dioxide (1 mtCO2) or an equivalent amount of any other greenhouse gas
Players seek better options as costs rise. Players seek better options as costs rise.– and how they want to make that change.
All credits to Dr. Holmes Hummel of the University of CaliforniaThese slides were taken from her site, which is available for your use as well – a great resource of explaining climate policy to your colleagues and members.
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