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Title IV of the Clean Air Act Amendments of 1990 established the allowance market system known today as the Acid Rain Program. Initially targeting only sulfur dioxide, Title IV set a decreasing cap on total SO 2 emissions for each of the following several years, aiming to reduce overall emissions to 50% of 1980 levels.
An early example of an emission trading system has been the sulfur dioxide (SO 2) trading system under the framework of the Acid Rain Program of the 1990 Clean Air Act in the U.S. Under the program, which is essentially a cap-and-trade emissions trading system, SO 2 emissions were reduced by 50% from 1980 levels by 2007. [ 58 ]
At the start of 2022 there were 25 operational emissions trading systems around the world. They are in jurisdictions representing 55% of global GDP. These systems cover 17% of global emissions. [73] The European Union Emissions Trading System (EU-ETS) is the second largest trading system in the world after the Chinese national carbon trading ...
China's SO2 emissions had decreased from a 2006 peak of at nearly 26 million metric tons to 20.4 million tons in 2013 thanks to more gradual emissions restrictions. But with the war on pollution ...
Green trading encompasses all forms of environmental financial trading, including carbon dioxide, sulfur dioxide , nitrogen oxide , renewable energy credits, and energy efficiency . All these emerging and established environmental financial markets have one thing in common, which is making profits in the emerging emissions offset economy by ...
Tianjin Climate Exchange has the following goals: to help enterprises cost-effectively reduce emissions of pollutants, such as sulfur dioxide, chemical oxygen demand, etc.; to help enterprises achieve maximum energy efficiency at minimum cost; to help enterprises manage environmental risks and meet increasing disclosure requirements; and to ...
Carbon emission trading (also called carbon market, emission trading scheme (ETS) or cap and trade) is a type of emissions trading scheme designed for carbon dioxide (CO 2) and other greenhouse gases (GHGs). A form of carbon pricing, its purpose is to limit climate change by creating a market with limited allowances for emissions.
Others argue that an enforced cap is the only way to guarantee that carbon emissions will actually be reduced; a carbon tax will not prevent those who can afford to do so from continuing to generate emissions. Besides cap and trade, emission trading can refer to project-based programs, also referred to as a credit or offset programs.