An Emissions Trading Scheme is a better policy instrument than a Carbon Tax in tackling climate change? Name University ‘An emissions trading scheme is a better policy instrument than a carbon tax in tackling climate change.’ Increasing pollution has actually given rise to intense climatic change which is subsequently affecting the human civilization…
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Two of the most widely accepted instruments in this regard are: ‘Emissions Trading Scheme’ and ‘Carbon Tax’ (Van Asselt, 2010, p.126). Both of them are being utilized by the government in order to reduce toxic emission in the natural environment. However, the government has only limited the amount of emissions rather than solving this issue from the roots. Emissions trading scheme allows the industries to release a certain amount of pollutants in to the air. It is basically a market based approach which is supported by economic incentives (Cass, 2005, 38). When a firm successfully reduces its emission of pollutants then it is most likely valued by the government. In contrast to this the carbon tax is a mere pricing strategy according to which households and firms are supported to control pollution with the implementation of various technologies and plantation. In this case the firms have to pay a certain amount of tax because of burning fossil fuels or causing gas pollution (Eckersley, 2010, p. 367). This paper aims to critically evaluate the effectiveness and efficiency of both the pollution controlling strategies while supporting the claim that emissions trading scheme
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The government of Australia have proposed a new environmental tax to be effective from July 1, 2012. It would be levied on the basis of the quantity of carbon dioxide emitted into the atmosphere. Initially the tax rate is set at $23 per tonne of emitted carbon dioxide.
And thus, the glaciers, the ice caps and the ice sheets are melting, the climate is vigorously changing and the sea levels are rinsing. This of course becomes the cause of many of the natural disasters as well, like the tornadoes, floods, sandy storms, etc.
The Coasian theory proved to be the most efficient and was thus taken up. The principal design featured rolling out the scheme in three phases, where the first two phases would guide the third one subsequent to the experiences had. In addition, there was an agreement made with particular nations that made the burden of reducing emissions lesser because of their economic capabilities.
The scheme works by demanding that operators of installations undertake the specified activities to hold a permit, which enables the installation to emit certain levels of CO2. The paper explores one of the market-Based Instruments of Environmental Policy - EU Emissions Trading Scheme (EU ETS) and appraises it effectiveness in controlling environmental degradation.
According to the report The hidden costs due to the damages incurred by environmental pollution, loss of soil and species, climate change, heat waves, storms and floods are borne by the people who have not even enjoyed the benefits of the products and services offered in the markets. The utilization of market-based instruments helps in the realization of economic objective.
Since global warming has a potential impact of increasing the normal temperature it produces a lot of harmful effects for the people living on the earth. In order to restrict the emission of such gases two different forms of providing a deterrent feature is being discussed by the economists and other expert environmentalists; one is the Carbon tax and the other Emission trading.
The greater controversy surrounds exactly how human induced climate change will be realized at the regional level and across time, who will suffer and what should be done. Governments in many developing countries and at least two industrialized countries (the United states and Australia) have, over the years involve the implicit assumption that climate change is a nuisance, that it has little or no economic costs, while doing something about climate change would have serious negative impact on the economy.
The causes of carbon emissions include: emissions by industries (being the major contributor to the levels of carbon that is emitted daily to the atmosphere. Green house emissions have also been at the increase. (Rose, A. et al. 1998) The U.K. government has set up a program that is meant to take off soon to counter this problem.
Initially proposed in 2001 the Emissions Trading System of the EU (EU ETS) was officially established and launched in 2005 as the first cap-&-trade system for the emissions of carbon dioxide in the world with reference to the Kyoto Protocol
Energy security is considered in the attempt to achieve the 80% carbon emission. The development of the 2050 calculator tool is one of the strategies used to reduce the carbon emissions. The tool is used is used to generate figures that simulate the desired plan of achieving
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