How do emissions trading systems work? - Grantham Research …
https://www.lse.ac.uk/granthaminstitute/explainers/how-do-emissions-trading-systems-work/
web11 June, 2018. Emissions trading, also known as ‘cap and trade’, is a cost-effective way of reducing greenhouse gas emissions. To incentivise firms to reduce their emissions, a government sets a cap on the maximum level of emissions and creates permits, or allowances, for each unit of emissions allowed under the cap.
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