emissions trading, definition of

Emissions Trading

This is an economic incentive-based alternative to command-and-control regulation. In an emissions trading program, sources of a particular pollutant (most often an air pollutant) are given permits to release a specified number of tons of the pollutant. The government issues only a limited number of permits consistent with the desired level of emissions. The owners of the permits may keep them and release the pollutants, or reduce their emissions and sell the permits. The fact that the permits have value as an item to be sold or traded gives the owner an incentive to reduce their emissions.

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Emissions Trading

Climate change is a change in the statistical distribution of weather over periods of time that range from decades to millions of years. It can be a change in the average weather or a change in the distribution of weather events around an average (for example, greater or fewer extreme weather events). Climate change may be limited to a specific region, or may occur across the whole Earth.

In recent usage, especially in the context of environmental policy, climate change usually refers to changes in modern climate. It may be qualified as anthropogenic climate change, more generally known as global warming.

Wikipedia - Climate Change entry

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