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Erschienen in:

2020 | OriginalPaper | Buchkapitel

Policy Instruments for Mitigating Carbon Dioxide Emissions

verfasst von : Adam Rose, Brandt Stevens

Erschienen in: Fossil Energy

Verlag: Springer New York

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Benefit-cost analysis

The systematic appraisal of all benefits and all costs of a specific course of action.

Cap and trade

The policy instrument of assigning a limited number of property rights to the environment (typically in the form of emission allowances) and then letting recipients of those rights to trade them in the marketplace to achieve the least-cost mitigation of a given pollutant.

Carbon tax

Imposing a fee per unit of carbon (or other greenhouse gas measured in carbon equivalents) in order to create a disincentive for pollution emissions.

Economic efficiency

Obtaining the maximum outcome from the use of limited resources, as in the maximum economic output given a fixed amount of inputs by a producer and the maximum utility from a given combination of goods and services by a consumer.

Economic policy instruments

The institutional means of implementing environmental goals.

Emission allowance auction

Selling emission allowances to the highest bidder, as opposed to allocating the allowances free of charge.

Environmental regulation

Specific requirements pertaining to pollution emissions that are backed up by the force of government and penalties. This includes setting a bound on pollution emissions, limiting the use of certain fuels, or requiring certain production or pollution control technology.

Equity

Fairness in the distribution of income or the distribution of impacts of a given policy more generally. Note that there is no universal consensus on the best definition. One prevalent equity concept in environmental policy is vertical equity – seeking to narrow the disparities between rich and poor, as in allocating relatively more greenhouse gas emission allowances to poorer countries. Another is horizontal equity – treating everyone in the same category equally, as in requiring the same percentage emission reductions from all polluters.

Evaluative criteria

Norms by which to judge the effectiveness of policies.

Renewable portfolio standard

A requirement that a given percentage of electricity be generated by renewable resources.

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Titel: Policy Instruments for Mitigating Carbon Dioxide Emissions
verfasst von: Adam Rose
Brandt Stevens
Verlag: Springer New York
Buch: Fossil Energy
Print ISBN: 978-1-4939-9762-6

Electronic ISBN: 978-1-4939-9763-3

Copyright-Jahr: 2020
DOI: https://doi.org/10.1007/978-1-4939-9763-3_953